Case Study: a largest asset servicing company streamlines clearing and settlement with Wipro

Largest Asset Servicing Company - Customer Case Study

The client, a large asset servicing company, partnered with Wipro to address challenges in its global trade clearing and settlement systems. The firm faced numerous inefficiencies due to manual processes, including the unavailability of historical data, documentation, and standardized procedures, as well as conflicting market deadlines and changing regulations. This required a large-scale application development and business process management initiative to automate and modernize its operations.

Wipro developed and implemented robust applications to automate the client's clearing and settlement systems. The solution leveraged Wipro's capabilities in middle office support and trade processes, and was supported by measures such as data collection for benchmarking, the creation of standard operating procedures, and targeted team training. Wipro's engagement resulted in a dramatic improvement, successfully reducing high-value trade settlements from over 30 days outstanding to zero days. The client significantly improved its risk and control governance and was featured in a major industry survey for its improvement in EMEA fixed income rankings.