Wipro’s strong, strategic partnerships and ability to provide clients with comprehensive solutions to embrace the open finance ecosystem position the company as a Leader, according to Everest Group.

Everest Group named Wipro a Leader in its PEAK Matrix® for Open Finance IT Service Provider 2023.

Leaders, according to Everest Group, are working with governments and regulatory bodies around the world to shape the open finance agenda. They are expanding their scope of services to include open finance use cases beyond banking and payments and are pursuing acquisitions and partnerships to further enhance their open finance capabilities.

In their assessment, Everest Group noted Wipro’s ability to be a strategic partner and to provide clients with credible proof points that speak to the regulatory compliance issues and emerging technology challenges that can be targeted by an end-to-end open banking journey. They also noted the strength of Wipro’s API Marketplace (including API project management, integrators, low-code/no-code capabilities, and cloud-based deployment) and its 360-degree partnership with the Banking Industry Architecture Network (BIAN).

“Our vision is to help our current and future clients pivot towards emerging technology and define their role in the open finance ecosystem, said James Curzon Global Head of Consulting – Banking Domain, Wipro. The rise of open banking is creating a shift in the role of banks. Wipro has invested and prioritized building strong partnerships with hyper-scalers and regulatory bodies to ensure we are providing innovative solutions to our clients. This recognition by Everest Group is a proof point that we are headed in the right direction towards our larger vision.”

“A robust solutions portfolio with tools and accelerators and cutting-edge innovation through setting up sandbox environments and publishing dedicated thought papers and handbooks have helped Wipro gain momentum in open finance with banking and financial service (BFS) enterprises globally,” said Pranati Dave, Practice Director, Everest Group. “Association with industry bodies and being reliable partners for clients, with good geographical and line of business footprints, have helped Wipro earn recognition as a Leader on Everest Group’s Open Finance IT Services PEAK Matrix® Assessment 2023

To learn more about Wipro’s capabilities as an enabler of open finance transformation, download the full report.