Welcome!

News Feed Item

Wipro Signs Partnership with AxiomSL

Wipro Ltd. (NYSE:WIT), a leading Information Technology, Consulting and Outsourcing company today announced that it has signed a partnership with Axiom Software Laboratories Inc. (AxiomSL), a global leader of regulatory reporting and risk management solutions for the financial services industry. The partnership between Wipro and AxiomSL seeks to address challenges faced by financial institutions with solutions that offer increased transparency, improved data integrity and a deeper level of data granularity and traceability required by regulators. Wipro is currently assisting two global banks in the firm-wide roll-out of the AxiomSL solution.

Risk & Compliance Services is one of the fastest growing segments for Wipro’s banking, financial services and insurance business. Wipro has a strong team of ex-regulators, ex-CROs, risk architects and technologists that has successfully delivered over 100 Risk & Compliance engagements spanning consulting, IT and BPO services. AxiomSL’s integrated data-driven platform meets the demands of regulators across multiple jurisdictions while supporting diverse submission formats including XBRL taxonomy requirements. AxiomSL’s solution combined with Wipro’s consulting and technology capabilities will empower clients to have full control over their regulatory process workflow.

Cubillas Ding, Research Director - Finance and Risk, Global Financial Services, Celent, said, “The market for regulatory reporting solutions, and associated upstream data aggregation and integration services will exceed $18bn globally by 2015. With financial firms pressured to reliably go-to-market rapidly with mandatory obligations such as regulatory reporting, consulting and implementation partnerships between service providers can serve as a strategic catalyst.”

“To mitigate regulatory risks, financial firms demand an integrated, multi-jurisdiction regulatory reporting platform to reduce costs, improve efficiencies, enhance transparency and meet global and regional mandates,” said Gordon Elliot, Global COO, AxiomSL. “We are confident that our strategic partnership with Wipro will enhance our value proposition and strengthen our global footprint. This collaboration will result in a more efficient approach for both firms to expand their reach and help financial institutions address reporting challenges as it relates to increasing transparency and flexibility, while meeting multiple filing deadlines under tight timeframes.”

Santhosh Nair, Vice President and Global Head – Risk & Compliance, Finance Solutions, Wipro, said, “Compliance with regulatory reporting requirements is critical for financial institutions to address the trust deficit with various stakeholders post the financial crises. This strategic partnership enhances Wipro’s leadership position in Risk & Compliance Services to assist global financial institutions to meet their regulatory obligations in a cost effective and timely manner. This solution combines AxiomSL’s industry-leading platform with Wipro’s techno-domain capabilities, global footprint and track record in helping leading financial institutions meet their risk and compliance obligations.”

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.

About Axiom Software Laboratories, Inc
Axiom Software Laboratories, Inc., (AxiomSL) is the global leader in regulatory reporting and risk management solutions for the financial services industry. Established more than 20 years ago, AxiomSL empowers financial institutions to meet regulatory reporting and risk requirements across multiple regulators and jurisdictions. Via the strategic data-driven platform, firms can meet demands from various regulations, including Basel III, Dodd-Frank, CCAR, FINREP/COREP, AIFMD, FATCA and Solvency II, as well as liquidity, market and credit risk management requirements.

Leading financial firms use AxiomSL’s data management, regulatory reporting and risk management solutions to administer all internal data procedures, simplify, standardize and automate processes, and improve data integrity to successfully enhance decision making. The AxiomSL platform integrates clients’ source data from disparate systems and locations, without any data conversion, in a cost-effective manner, providing flexibility, transparency, traceability and the ability to drill down into data sources. It also delivers analytical applications in the areas of data integration and warehousing, financial risk management, regulatory reporting, compliance and financial control. This solution enables financial institutions to have full control over every step of the process and can adapt quickly to evolving regulations.

AxiomSL’s suite delivers a fully integrated solution from data sourcing to final reports including XBRL submission. www.axiomsl.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 our behalf.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Is it possible to migrate 100% of your data ecosystem to the cloud? Join Joe Caserta as he takes you on a complete journey to digital transformation mapping out on-prem data footprint and walking it to the cloud. Joe will also explain how the modern ecosystem supports Artificial Intelligence and will include business use cases to back each of his insights.
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
The now mainstream platform changes stemming from the first Internet boom brought many changes but didn’t really change the basic relationship between servers and the applications running on them. In fact, that was sort of the point. In his session at 18th Cloud Expo, Gordon Haff, senior cloud strategy marketing and evangelism manager at Red Hat, will discuss how today’s workloads require a new model and a new platform for development and execution. The platform must handle a wide range of rec...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of ...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...