Company Lauded for Building a Comprehensive Set of Solutions with a
Vision for the Mortgage Market
BANGALORE, India & EAST BRUNSWICK, N.J.--(BUSINESS WIRE)--
Wipro Ltd. (NYSE: WIT), a leading global Information Technology,
Consulting and Outsourcing company today announced that Wipro BPO has
been positioned in the Winner’s Circle among the top worldwide Mortgage
BPO service providers by the leading analyst firm HfS Research in its
"Blueprint Report on Mortgage BPO," authored by analyst Charles
The HfS Blueprint identifies relevant differentials between service
providers across numerous facets primarily based on two parameters.
Service providers placed in the HfS Research "Winner’s Circle" are
companies that demonstrate excellence in execution and innovation. From
an execution perspective, these providers have developed strong client
relationships, real-world delivery solutions and are flexible in meeting
clients’ needs. Innovation represents providers’ strong vision, plans to
invest in future capabilities and ability to leverage external drivers
to increase value for their clients.
HfS notes that Wipro is being active at seeking feedback from customers
on mortgage capabilities and then building that into new offerings and
solutions. Wipro has built a broad set of capabilities across the
mortgage services market and has solutions for all client requirements
including areas such as risk management and mobility, where other
service providers still have limited capabilities.
The research also highlights Wipro’s capability to deliver tangible
business outcomes that clients seek to achieve in partnership with Wipro
and measure them with the using its Business Value Meter (BVM)
framework. Wipro’s Business Value Meter is a proprietary framework that
helps clients measure and monetise business outcomes in the area of
client experience, cost optimization and revenue enablement delivered
using gold template processes, best in class tools, technology, and
value creation practices.
HfS in this research mentions Wipro as ‘innovation leader’ due to its
focus both on the broader vision for where the mortgage market is headed
and in terms of its investments for this market, to build end-to-end
capabilities. For instance, in December 2013, Wipro acquired Opus CMC
(Opus Capital Markets Consultants LLC), one of the leading US-based
providers of mortgage due diligence and risk management services to
strengthen Wipro's mortgage solutions business and complement its
existing offerings in mortgage origination, servicing and the secondary
Keyur Maniar, Vice President and Global Head, BFSI BPO, Wipro Limited
said, “Wipro’s focus on innovation in a time of constraints has paid
off. Our strategic investments in platform technology, mobility, domain
expertise and compliance have catapulted us into the winner’s circle.
Wipro’s solution combines platform technology, accelerators, advisory
services and business process operations elements to address the needs
of lenders, servicers and investors.”
“Opus CMC is excited to be part of Wipro's innovative vision. The
addition of risk management and due diligence options to the Wipro suite
of services is an important step in providing end-to-end solutions for
the mortgage industry,” added Jennifer LaBud, Principal, Opus Capital
Markets Consultants, LLC, a wholly owned subsidiary of Wipro Ltd.
“Wipro was the overall leader on our Blueprint innovation axis
because they have invested in new capabilities across all three process
areas of origination, servicing and risk/default management. They have a
proactive strategy for building out services and shaping an overall
vision that responds to the current needs of traditional and emerging
residential lenders and servicers who are looking for new ways to
succeed in the mortgage market,” saidCharles Sutherland, EVP of
Research, HfS Research.
The Blueprint ratings are based on 1,355 crowd-sourced responses that
covered a broad range of stakeholders with specific weightages. The
stakeholders that participated in the ratings include, BPO Enterprise
Buyers, BPO Service Providers, BPO Sourcing Advisors and HfS Analysts.
Wipro’s presence in the mortgage industry spans across service and
technology. Wipro’s universal loan origination system, NetOxygen® is
currently being used by global banks and financial institutions to
improve workflow automation and increase efficiencies at every aspect of
origination. Wipro has been focused on helping their customers be agile
through variabilization of IT and operations and delivering
analytics-based outcomes to provide deeper customer insights, better
financial performance analysis, optimize operations, drive
product/service innovation and target continuous process improvement.
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting
and Outsourcing company that delivers solutions to enable its clients do
business better. Wipro delivers winning business outcomes through its
deep industry experience and a 360 degree view of "Business through
Technology" - helping clients create successful and adaptive businesses.
A company recognized globally for its comprehensive portfolio of
services, a practitioner's approach to delivering innovation, and an
organization wide commitment to sustainability, Wipro has a workforce of
140,000 serving clients across 61 countries. For more information,
please visit www.wipro.com.
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
Source: Wipro Ltd.