Wipro introduces services advisory capability 'Capco' in Middle East

15 Dec 2022 , 10:02 AM

Wipro Limited, global technology services and consulting firm, announced the launch of a new Middle East financial services advisory capability.

Capco, a Wipro company, will provide strategic management and technology consulting services to Middle Eastern financial services firms to support their transformation, digitization, and business consolidation initiatives.

Regional macroeconomic trends, such as diversification away from a petrodollar economy, are driving significant investment in financial services, emphasizing digital innovation, neo-banking, post-merger integration, and large-scale core transformations.

Against this backdrop of change, consulting spend in the Gulf Cooperation Council (GCC) region reached USD3.3 billion in 2022, with financial services accounting for approximately 30% of total spending, and is expected to grow by 30% year on year in the near term.

Capco is well positioned to capitalise on the region’s growth opportunities due to its expertise in successfully driving transformation programmes for tier-one financial institutions globally, said the company on Wednesday.

Naim Alame, Managing Partner, Middle East, will lead the new consulting capability. He joins from Accenture Middle East, where he was responsible for delivering digital and core transformation programmes to top-tier banks in the region.

At around 10.05 AM, Wipro was trading at Rs396.80 down by 0.79% from its previous closing of Rs399.95 on the BSE. The scrip opened at Rs400 and touched an intraday high and low of Rs400 and Rs396.40 respectively.

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