Wipro partners with EMC to develop e-banking solution

By siliconindia   |   Wednesday, 27 October 2010, 07:39 IST
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Bangalore: Wipro Technologies has announced partnership with EMC Corporation to develop an electronic bank account management solution for the Corporate Banking sector of the Financial Services industry. Wipro will be using EMC Documentum xCelerated Composition Platform (xCP) to develop the Electronic Bank Account Management (eBAM) solution. EMC Documentum xCP integrates EMC Captiva for intelligent enterprise capture and Wipro's message management and back office integration offerings. Apart from this, RSA technologies will also be used to address the security aspects of the solution. Through the solution, the Corporate Banking industry will get an efficient and geographically standardized bank account management process that will help banks achieving a faster time to market and better demonstration of compliance. For the eBAM solution, Wipro will provide the business solution conceptualization, system integration as well as message management. Adding to it, it will also provide banking domain expertise and advisory services as part of this solution to financial institutions. Wipro claims that solution intends to offer a document driven workflow-based integration that is easy to deploy, configure, operate, maintain and upgrade. "Wipro's vertical knowledge combined with the strength and flexibility of Documentum xCP enables our mutual customers to realize value much faster and at a substantially reduced cost", said Neville Letzerich, Vice President and General Manager for EMC Documentum xCP, Information Intelligence Group, a division of EMC. Sriram Srinivasan, Senior Vice President & Global Business Head, Banking, Wipro Technologies said, "It has been our endeavor to build industry solutions and help financial institutions cut down their implementation timelines with best-of-breed technology choices." Wipro has also announced that it has entered into a relationship with SWIFT (Society for Worldwide Interbank Financial Telecommunication), the global provider of standardized financial messaging services, to provide technical qualification testing services for its SWIFTReady Label program. Wipro has been selected to provide the technical qualification testing services for over 100 vendor applications that apply to the SWIFTReady Label program every year.