Case Study: a global financial service firm reduces TCO by 30% with Wipro’s consolidated AML and Trade Surveillance platform

Global Financial Service Firm - Customer Case Study

The Europe-based global financial service firm, a major financial services institution with over 50,000 employees, faced challenges with its fragmented trade surveillance and anti-money laundering (AML) systems across Europe. This non-standardized environment led to inefficient investigations, a lack of consolidated reporting, and high maintenance costs for its multiple platforms. Seeking to increase efficiency and reduce its total cost of ownership, the firm engaged Wipro for a technology solution.

Wipro implemented a single, consolidated technology platform for AML and trade surveillance, which included upgrading legacy systems and integrating SMARTS alert functionality. The solution provided executive dashboards, intuitive visualizations, and handled data from over 100 sources to identify abusive trading activities. As a result, Wipro helped the client achieve a 30% reduction in annual TCO, a 15% faster time-to-market for new applications, and a 25% reduction in report-related production incidents.