Copenhagen, Denmark and Bangalore, India – December 14, 2018:
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company and Saxo Bank Group (Saxo Bank), a leading multi asset trading and investment specialist with more than 25 years of Fintech innovation, today announced a strategic partnership. Saxo Bank has chosen Topcoder, a Wipro company and the world’s largest talent network and crowdsourcing platform for data scientists, programmers and designers, for the execution of digital transformation initiatives at the bank.
Topcoder is home to a global, on-demand network of designers and technologists. It became a part of Wipro in November 2016. At Topcoder, a network of talent assists companies of all sizes to uncover and put together innovative ideas and digital solutions in terms of apps, dashboards and algorithms. Every challenge is presented to the Topcoder community in the form of a competition, wherein only the best and the most innovative solutions are selected.
This engagement will enable Saxo Bank to provide its customers unparalleled access to global financial markets, cutting-edge technologies and industry-leading expertise. The program will also help the bank secure high-quality end results through access to Topcoder’s network of 1 million+ designers, developers and technology architects, who will bid on the individual assignments and deliver design concepts, prototypes and click-through apps.
“Uncovering an innovative idea and executing on that idea quickly is crucial for us to stay ahead of the technology curve and continue to deliver a unique digital client experience. Leveraging crowdsourcing and working with Topcoder helps us execute on our ambitious strategy and innovation projects,” says Richard Douglas, Global COO, Group IT at Saxo Bank.
Mike Morris, Global Head- Crowdsourcing, Wipro Limited said, “The Nordic region is a powerhouse of innovation and companies in this region are increasingly taking advantage of new and advanced technologies to deliver better products and services for their customers. We see tremendous potential for Topcoder to accelerate innovation for Nordic businesses.”
“Innovation is something, every company wants to achieve, but it is easy to hit a roadblock in the initial ideation phase. This partnership enables Saxo Bank to not only uncover new ideas, but also to see them through to execution with top talent. Offering tasks to a crowdsourcing talent network helps achieve the best possible outcome on every assignment,” added Morris.
Wipro has been present in the Nordic region for over a decade and works with customers across the healthcare, manufacturing, energy, natural resources, utilities, financial services, telecom and retail industry verticals. Wipro also has a presence in the Nordic region through its acquired entities – Appirio, which helps companies improve their worker and customer experiences through cloud technology and Designit, a strategic design firm specializing in transformative product-service experiences.
About Saxo Bank
Saxo Bank Group (Saxo) is a leading multi-asset trading and investment specialist, offering a complete set of investment and trading technologies, tools and strategies. For 25 years, Saxo’s mission has been to democratize investment and trading, enabling clients by facilitating their seamless access to global capital markets through technology and expertise. As a fully licensed and regulated bank, Saxo enables its direct clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides wholesale institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology, supporting the full value chain delivering Banking-as-a-Service (BaaS). Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide. Founded in 1992, and launching its first online trading platform in 1998, Saxo Bank was a Fintech even before the term was created. Headquartered in Copenhagen, Saxo Bank today employs more than 1,500 people in financial centers around the world including London, Paris, Zurich, Dubai, Singapore, Shanghai, Hong Kong and Tokyo.
About Topcoder
Topcoder, a Wipro company, is a workforce marketplace with 1.4 million developers, designers, and data scientists around the world. For more than a decade, Topcoder has helped organizations — including IBM, Honeywell, GE, BMC, Booz Allen, NASA Tournament Lab, Harvard Medical School, U.S. Dept. of Energy and Land O’Lakes — accelerate innovation, solve challenging problems and tap into hard-to-find skills. Enterprises distribute work to our global network through the Topcoder platform where individuals with the right skills participate in competitions to win money, build skills, and earn recognition. For more information, visit www.topcoder.com.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics, and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability, and good corporate citizenship, we have over 175,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
Wipro Limited
Prathibha Das
Suzanna Abarca
+46 72 511 90 08
Allan Priess Poulsen
+45 61 18 08 08
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
