RECON as a SERVICE
Wipro introduces reconciliation as a service offering, in partnership with the London Stock Exchange and powered by the award winning UnaVista platform. The service offers a highly flexible operating model coupled with an on demand commercial model that drives maximum commercial benefit for our shared clients.
With rising cost pressures, financial institutions need to look at new solutions to age old problems of control and risk mitigation. Our service has been shown to save a potential 50% of total cost of ownership when compared to internal solutions where sharing opportunities are limited to the individual institution.
Wipro offers a standard solution that includes core processing services with the opportunity to increase the services offered from our shared facility,where we are able to use template solutions to drive efficiencies across multiple participants. The core solution is contracted on a subscriptionbasis with the On Demand services contracted for, based on usage. In essence, you pay only for what you use rather than what you forecast.
The service can be scaled to suit relatively small requirements but as the use of the service grows, additional discounts are passed directly to the client as we leverage the scale achieved across the client base, effectively cross funding between participants.