Greater need to monitor changing messaging standards such as SWIFT, ... The Wipro TransformX App Framework allows firms
WIPRO TRANSFORMX Adding Agility, Transparency and Efficiency to Message Transmission
Challenges
Suite of Services
Owing to the ever changing business models and regulations, Financial Institutions are increasingly getting interconnected. They have been leveraging aging ‘message’ integration channels with customers, partners and service providers as well as dealing with multiple types of integration and format requirements. This is leading to:
Wipro addresses the needs of financial institutions by offering a full suite of advisory, technology and operations services, which include:
• Increasing spends on messaging infrastructure and services
Assessment – Assessment of current I2I
• Greater need to monitor changing messaging standards such as SWIFT,
practices and mechanisms that enable gap/white
FIX, FpML and proprietary formats
space analysis and solution recommendations
• Challenges in scalability and portability of messages thereby leading to the need for format conversion • Increased checks and balances on message transmission
Program Management – Coordination, communication and orchestration of the
The Solution Wipro TransformX solution enables Financial Institutions to expand and enhance their core business by providing a fully-managed service for Institution-2-Institution (I2I) Integration. Wipro TransformX addresses the
message integration and optimization program
Testing – Verification and validation services for I2I integration
scalability, portability and cost related challenges of the integration requirements through a message transformation service by providing: • A scalable, resilient and extensible messaging framework and process asset
Message Transmission Support – Steady state operations support for message transmission
• Accelerators for integration, portability and monitoring of messages • An open platform for Straight Through Processing (STP) and improved transparency • Commercial models aligned to the client’s business model
Technology Support – Steady state technology platform and application support
Features The Wipro TransformX Solution has point accelerators that include:
Ready-Adapters for SWIFT; FIX; FPML and CSV designed for multiple transport protocols, which allow accelerated time to market and reduced TCO for clients
A secure FTP that provides batch file transmission in a perfectly designed infrastructure
Benefits The Wipro TransformX Scalable Service Delivery (SSD) Model allows clients to focus on customer demands with superior service delivery and customer experience, typically leading to: 40% reduction in cost from current attempts for messaging implementation
Increased STP by up to 25%, and a 70% improvement in time to revenue with quick setup and onboarding of "paying" clients The Wipro TransformX App Framework allows firms the access to a scalable platform capable of processing large volumes and handling 10 million messages/day at 1,000 TPS
A Case in Point Client One of the largest financial institutions executing interbank payments
Activities • Gap analysis of current state vis-à-vis the desired state of the system • Customized the Wipro TransformX solution to suit the client’s environment • Performed review and proposed a new design for real-time connectivity with filtering applications
Outcomes Wipro delivered the solution which: • Increased capacity fourfold from 5 million messages per day to 20 million messages per day by processing 1500 TPS (Transactions Per Seconds) • Improved processing availability from 23x5 earlier to 24x7 today • Provided 100% payment filtering checks on all interbank payments • Provided 100% visibility of funds movement through Liquidity Monitoring and Throttling
About Wipro Ltd. Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Business Process Services 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 over 150,000, serving clients in 175+ cities across 6 continents. For more information, please visit www.wipro.com
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