Wipro Utlity Solution
See how Wipro and UnaVista have partnered to offer this new service
London Stock Exchange Group and Wipro are partnering to offer Reconciliation as a Service, 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.
Our Solution
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 subscription basis 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.
How you can benefit
Adapt to increasing regulatory demands
Our solution combines real time processing with an unparalleled speed of change that allows it to adapt to increasing regulatory demand at a cost which is well below industry benchmarks meaning less pressure on existing and future operational budgets.
Gain better business insight and efficiency
The transparency of the operation allows for enhanced reporting and improved analytics driving increased matching rates and efficiency.
Wide range of reconciliations with quick set up time
The solutions highly flexible data model approach allows it to adapt to a more complex reconciliation environment through configuration rather than core code change. This enables a wider scope of service to be offered through a single environment.
Flexible cost model
Low entry barrier to the service with a focus on variable rather than fixed cost model with minimal implementation costs.