To address challenges faced by financial institutions with solutions that offer increased transparency, improved data integrity and a deeper level of data granularity and traceability required by regulators, Wipro(NYSE:WIT) has announced that it has signed a partnership with Axiom Software Laboratories (AxiomSL).
Risk & Compliance Services is one of the fastest-growing segments for Wipro’s banking, financial services and insurance business. Wipro has a strong team of ex-regulators, ex-CROs, risk architects and technologists that have successfully delivered over 100 Risk & Compliance engagements spanning consulting, IT and BPO services. AxiomSL’s integrated data-driven platform meets the demands of regulators across multiple jurisdictions while supporting diverse submission formats, including XBRL taxonomy requirements. AxiomSL’s solution combined with Wipro’s consulting and technology capabilities will empower clients to have full control over their regulatory process workflow.
Santhosh Nair, Vice-President & Global Head - Risk & Compliance, Finance Solutions, Wipro, said, “Compliance with regulatory reporting requirements is critical for financial institutions to address the trust deficit with various stakeholders post the financial crisis. This strategic partnership enhances Wipro’s leadership position in the Risk & Compliance Services to assist global financial institutions meet their regulatory obligations in a cost-effective and timely manner. This solution combines AxiomSL’s industry-leading platform with Wipro’s techno-domain capabilities, global footprint and track record in helping the leading financial institutions meet their risk and compliance obligations.”
At present, Wipro is assisting two global banks in the firm-wide rollout of the AxiomSL solution.
