By Mahesh Chandra, Senior Vice President, Head of Banking and Financial Services, Wipro.
In today's fast-paced world, where banking and financial services firms need automation and artificial intelligence (AI) to drive efficiency, they also understand that customers want services that feel personalized, not robotic. This applies to both enterprise customers and retail customers and is true across all segments, whether Millennials, Boomers, small and medium-sized businesses, or institutional clients. In today's customer focused environment, financial firms need to forge emotional bonds and foster deep relationships to drive customer loyalty and fuel growth.
When we talk to financial institutions about the future of their customer experience, we focus on three areas: financial advisory, financial wellness, and trust.
Many firms offer a range of advisory services. The challenge lies in presenting the appropriate services to the right customers and then delivering a highly personalized advisory experience. To succeed, they need to understand their customers' financial situation even better than the customers themselves do. Fortunately, this no longer needs to be a completely manual approach. Firms can now utilize AI algorithms to unlock their data and offer insightful financial advisory at scale. We're collaborating with some of the world's most innovative AI and fintech companies to build a more curated approach to advisory that leverages data and AI for hyper-personalization.
Looking ahead, we know that financial institutions are also seeking to attract customers with new financial wellness tools, such as spend analytics, goals-based savings, and personal finance education. It's a deeply collaborative effort that pulls data and technology together from across the financial ecosystem. In collaboration with Capco, Designit, and our engineering teams, we are identifying exciting opportunities to codevelop financial wellness products with our clients.
Let's not underestimate the trust and security aspects. With generative AI (gen AI) coming to the fore, customers are more concerned than ever about security—particularly given the stories about major fraud driven by gen AI deepfakes. Robust cybersecurity and fraud mitigation are integral to a human-centric banking experience. It will become a real competitive differentiator. Customers want assurance that their bank truly cares about protecting their assets. That's why Wipro's cybersecurity and risk and compliance practices are actively working with our banking and financial services clients to combat AI-driven fraud using cutting-edge AI-powered anti-fraud tools.
We see tremendous opportunities for our clients to embrace new technologies in ways that strengthen customer relationships. Technology doesn't need to translate into a robotic, impersonal banking experience. At the end of the day, customers want to bank with a brand they can trust and a team that genuinely understands their personal needs. Financial institutions that are ready to deliver on these promises will succeed in the coming decade.
At Wipro, we are dedicated to helping banks and financial services firms create innovative experiences, products, and services for their customers by empowering them with the tools and knowledge needed to thrive in an AI-driven world. We invite you to dive into the unique insights provided by industry leaders and practitioners in this report as you pursue your own transformation journey.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at
