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© 2013 WIPRO LTD | WWW.WIPRO.COM 1
Outsourcing
Innovation in
The New –
“Not so Normal”Balaji Yellavalli
VP BFSI, Wipro Ltd.
New York NY
© 2013 WIPRO LTD | WWW.WIPRO.COM 2
Velocity of Innovation has Defied Even Moore’s Law…
From inter-generation Innovations...
…to Intra-Generation Innovations
© 2013 WIPRO LTD | WWW.WIPRO.COM 3
Financial Services
Financial Services have been Impacted Across the Board…
Payments
SquareCheque Credit Card
Channels
Net BankingBank ATM
Trading
Hedge Funds / Algo TradingWall Street Trading Room
© 2013 WIPRO LTD | WWW.WIPRO.COM 4
CIO, CFO, CRO, CMO, CXO…
Lower Growth & Profitability for Banks & Financial Institutions
What’s keeping the CIO,
CFO, CRO, CMO, CXO…
awake at night, today?
Changing
Customer Dynamics
© 2013 WIPRO LTD | WWW.WIPRO.COM 5
The “Half-Life” of Innovative Ideas!
2007-2009(Stumbling but
Bouncing Back)
Cost
Arbitrage
Value &
“Variabilization”
Services
Products &
Solutions
Industry
Agnostic
Domain
Specific
Effort
Business &
Revenue
Outcomes
Globalization
“Glocalization”&
“Ancillarization”
The Death of Traditional Outsourcing as We Know It…or The “Half-Life”
of Innovative Ideas!
© 2013 WIPRO LTD | WWW.WIPRO.COM 6
The Evolving New Global Operating Model
Trust
GrowthSimplification
Insights
© 2013 WIPRO LTD | WWW.WIPRO.COM 7
So, What are Business Partners Looking For?..
Trust – with
customers &
regulators
Growth
– from new
products,
services &
channels
Simplification – of
processes &
technology
Insights
– turning
hindsight-
20X20 into
foresight
Achieved Through
Relevant Innovation in:
Process
Engagement
Product & Pricing
Technology
© 2013 WIPRO LTD | WWW.WIPRO.COM 8
Innovation in How Engagements are Carried Out
Global Delivery +
Near Shore
Global
Delivery
Onsite
Onsite
OffshoreLimited Innovation
Client
Solutions &
Accelerators
Service Provider
& Partners
Frameworks
Service Provider
Innovation
Councils
Service Provider
Jointly with
Clients
© 2013 WIPRO LTD | WWW.WIPRO.COM 9
Moving Up The Value Chain
Preliminary Offerings
1980sADM, Infrastructure,
Testing, BPO
1990s
Mature Offerings
Package
Implementation
2000s
Advanced Offerings
Systems Integration,
Consulting
2010s
Future Offerings
Utilities and
“Ancillaries”
Next Gen
Pricing Models
Traditional
Pricing Models
Time & Materials
Fixed Price
License Based
Moving Up The Value Chain Through Product & Pricing Innovation
Risk & Reward – Align with
Client’s Revenue
Transaction Based – Align
with Cost
© 2013 WIPRO LTD | WWW.WIPRO.COM 10
Technology Innovation: The Key Enabler
of buyers feel
connected to
Brands that
engage
socially
56%
is the annual
value created
for
businesses by
Social Media
$1.3
Trillion
virtual
“country”
with 1.3B
users !
3rd Largest
of online sales
will be
influenced by
Social Media
50%
priority for
CIO/CFO’s in
2012
#1
of data was
created in
2011, and this
will grow 20
times by 2020
1.8 Trillion
GB
is the Market
size of
worldwide
Analytics by
2016
$51 Billion
of top
executives
see analytics
as the engine
for future
growth
50%
Penetration
Cost
Device
1%
$ 6,000
PC
1981
10%
$ 2,000
Laptop
1994
75%
$ 25-400
m-Phone
2011+
will be spent
on SaaS
platforms by
2015 if cloud
standards are
formalized
$10
Billion
of the FIs
intend to
adopt /
replace cloud
by 2016
68%
is what global
FIs will spend
on cloud by
2015
$27
Billion
will be spent
on public
cloud by 2015
if cloud
standards are
formalized
$ 9.5
Billion
© 2013 WIPRO LTD | WWW.WIPRO.COM 11
Customer Value Maximization
Wipro’s Business Strategy Focuses on Customer Value Maximization
Shareholder
Value
Reduce Operating
Costs
Increase Revenue
Standardize at the core
Differentiate at the Front
Integrated consulting capability
Deep Industry and Advanced
Technology focus
Client centric Go-to-market
structure
Technology accelerator's
Automation and Non Linear
models
Process assets
Transformation
Themes
Transformation
InitiativesValue Drives
© 2013 WIPRO LTD | WWW.WIPRO.COM 12
Did You Know?
Of the $1.7 trillion in mortgages originated
in the US, about 10% were originated on
Wipro’s NetOxygen platform in 2012…
Settles 1 out of 9 Cash equity Trades
globally and manages ~ 30% of the
trading volume in the Equity & OTC
Derivatives market…
Processed 115 million claims across lines
of business for a leading insurer in
2012…
Provides Authorization, Clearing and
Settlement to 50 million cards in
circulation…
Handled requests for over 25 billion card
transactions with managed receivables of
$ 60 billion in 2012
© 2013 WIPRO LTD | WWW.WIPRO.COM 13
World’s Largest &
Most Complex
Banking Integration
HIGHLIGHTS
£110 trillion Balances to move
31 million accounts to move
15,000 lines in milestone plan alone
Integration required 1250 new environments
After integration it became one of the largest banks in
the UK, storing 2000 TB of data
Delivered in record time of 18 months
Achieved synergy benefits of £2bn run rate
© 2013 WIPRO LTD | WWW.WIPRO.COM 14
Channel Transformation
Drives Significant Growth
in Product Sales Volume
HIGHLIGHTS
Checking: 33% increase (11 months)
CDs: 34% increase (5 months)
Savings: 7% increase (11 months)
Credit cards: 18% increase (3 months)
Channel agnostic common application platform with
instant decision making across products facilitating multi
product purchase
Cross channel collaboration by seamless hand off of
leads from online to offline channels
Moving to paperless world by use of e-signatures,
emailing of welcome kits and electronic disclosures
Guided Service delivery to enable help for the phone
channel advisor through out the sales process
© 2013 WIPRO LTD | WWW.WIPRO.COM 15
Sales & Distribution
Solution For a Fortune
100 Auto Insurer
HIGHLIGHTS
338% jump in online premium in 2 years
40% reduction in elapsed time to get
online quotes
Worked with 50+ dependent applications
Implemented 3 Products (Standard Sales/ Servicing,
Non-Standard Sales/ Servicing and GBB)
Achieved 19 states roll out in 18 months
© 2013 WIPRO LTD | WWW.WIPRO.COM 16
In Summary
It is important to view Innovation holistically across all 4
dimensions-engagement, technology, pricing and product
The engagement model has a significant influence on the level of
joint-innovation along with clients
Effective Leverage of new and emerging technologies-Social,
Mobile, Analytics & Cloud-is key to address Customer, Competitive
and Regulatory priorities
Shared Utility Models enabled by new technologies, will conserve
much-needed capital while bringing greater value to the operating
budget
© 2013 WIPRO LTD | WWW.WIPRO.COM 17
Balaji Yellavalli
Vice President, BFSI
Thank You