Wipro, Microsoft launch an Innovation Experience for Financial Services

Wipro has announced the launch of the Wipro Industry Innovation Experience for Financial Services, which includes a range of banking and financial services solutions developed on the Microsoft Cloud platform.  

The virtual Innovation Experience is aimed at helping financial services organisations in discovering new solutions and accelerate their digital transformation journey.  

According to the company, the partnership will bring together Microsoft Cloud capabilities with Wipro FullStride Cloud. Additionally, it will also utilise the financial services domain expertise of Wipro and Capco.

“The Innovation Experience will allow financial services firms to explore new solutions in an immersive 3D environment. Solutions currently available as part of the Experience range from prevention of financial crime and loan origination to those that help transform core banking systems and maximize cloud investments,” the company said.

The Innovation Experience currently offers several solutions to address specific needs. One such solution is Core Banking Transformation, designed to enhance the agility, scalability, and security of core banking systems for financial institutions.

Another solution is Intelligent Volume Optimization and Risk Management (IVOR), an AI-powered tool that improves the accuracy of operations and aids in the detection of financial crimes, specifically money laundering.

Additionally, the company introduced NetOxygen, a digital loan origination solution that operates on the cloud. This solution aims to streamline the borrower-lender experience, making it more efficient and seamless.

Furthermore, Wipro has launched FinOps, a cloud operations and management solution. FinOps enables banks to leverage their cloud investments, drive innovation, optimise operations, and rapidly scale their products.