Business Wire

Wipro and First Horizon Bank Forge a Cloud-Based Fintech Future for VirtualBank

Share

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, has partnered with Tennessee-based First Horizon Bank (FHN) to transform the core banking channels and servicing capabilities of VirtualBank, an established digital bank that FHN inherited from Louisiana-based IBERIABANK as part of the merger completed in 2020. The combined entity’s assets are approximately $87 billion.

Wipro worked with six other companies to streamline VirtualBank’s cloud migration and support its fintech stack on a public cloud ecosystem. Wipro also supported the bank’s end-to-end program management, governance, customer data conversion, migration and validation, systems integration and testing services. This partnership resulted in a comprehensive transformation of VirtualBank’s legacy technology stack to a cloud-based, Application Programming Interface (API) enabled offering.

Wipro partnered with FHN to evaluate the fintech cloud products; developed end-to-end solution architecture, core configuration and accounting fund flows; and managed customer data migration and a quality assurance plan. Wipro also invested in a real-time event aggregator capable of collecting mission critical events from various cloud sources and reconciling and reporting on them for regulatory purposes. Wipro’s business domain and technological insight and expertise contributed to a rapid cloud migration, requiring about eight months to complete the project implementation.

“Offering full cloud support to a digital bank with thousands of customers was a challenging exercise. Wipro was able to help guide the process by combining the best aspects of modern and legacy financial systems. A repeatable playbook was created for the go-live launch sequence that can bring a competitive advantage to the market. Wipro is proud to be First Horizon’s strategic business partner in this journey which has better equipped both companies for the future,” said Mahesh Raja, Vice President and Sector Head - Banking and Financial Services, Americas, Wipro Limited.

“We are proud to work with Wipro to support VirtualBank’s adoption of cloud technology and new capabilities. Through a collaborative process, we addressed the unique challenges of converting to a cloud-based ecosystem and setting up new capabilities to build upon in the future,” said Anthony Restel, Chief Operating Officer, First Horizon.

Wipro has a successful history of supporting cloud migration for a range of enterprises, taking a bespoke approach that considers the unique situation of every customer and partner to create the ideal digital transformation.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 200,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.

About First Horizon Bank

First Horizon Corp. (NYSE: FHN), with $87.9 billion in assets as of June 30, 2021, is a leading regional financial services company dedicated to strengthening the lives of our associates, clients, shareholders, and communities. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, mortgage, and title insurance services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Sony Shetty
Wipro Limited
sony.shetty@wipro.com

Beth Ardoin
First Horizon
Beth.ardoin@firsthorizon.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

IFF Appoints Glenn Richter as Executive Vice President and Chief Financial Officer16.9.2021 22:15:00 CEST | Press release

IFF (NYSE: IFF) today announced that Glenn Richter, an accomplished financial executive with nearly three decades of experience overseeing finance and corporate strategy for multinational companies, has been appointed Executive Vice President and Chief Financial Officer, effective September 27, 2021. Mr. Richter was most recently Chief Financial Officer of TIAA, a leading global provider of financial services with $1.3 trillion in assets under management. He succeeds Rustom Jilla, who will be leaving the Company following a period of transition. With this appointment, Mr. Richter becomes a member of IFF’s Executive Committee and will be based in the Company’s New York City headquarters. “We are delighted to welcome Glenn to our leadership team. His experience leading large, global finance departments, implementing multi-year strategic productivity initiatives and managing transformative integrations will be a tremendous asset to our team,” said Andreas Fibig, Chairman and Chief Executi

The NAGA Group AG: Christian Angermayer's Apeiron Investment Group and Fosun Join Forces to Further Drive NAGA Growth16.9.2021 22:00:00 CEST | Press release

NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for trading, cryptocurrencies and payments NAGA.com, announces its largest equity financing round to date and welcomes Apeiron Investment Group Ltd, the private investment company of entrepreneur and investor Christian Angermayer, and Igor Lychagov, founder of Exness (one of the world's largest brokerage firms with a monthly trading volume of USD 1 trillion) as new strategic and long-term investors. Hauck & Aufhäuser acted as sole bookrunner in the transaction. In addition to participating in the capital increase, Apeiron has entered into a share purchase agreement with its Elevat3 strategy, operating in partnership with Peter Thiel's Founders Fund, to purchase a block of shares from FOSUN Group and is in negotiations to acquire additional shares from other shareholders. These transactions are subject to regulatory approvals. In total and upon full completion, Apeiron is targeting a stake of approximately 22

Landmark Celebrates 30 Years as the Industry Leader in Personal & Professional Growth, Training and Development16.9.2021 20:00:00 CEST | Press release

Landmark (Landmark Worldwide), established in 1991, celebrates its 30th anniversary with more than three million people across the globe having been positively and powerfully contributed to and empowered by its programs. Marking a related anniversary, it was 50 years ago that the ideas that grew into Landmark were born with the delivery of the first est Training in 1971. As the leader in the personal and professional growth, training and development industry, Landmark’s programs and ideas have empowered people for five decades to dramatically elevate the quality of their lives and, in addition, to impact the areas of their lives that matter most to them. Marketdata Enterprises, Inc., publishers of the definitive report on the personal development industry in the United States, stated in their 2021 report: “Landmark was named one of the top training and development companies in the world by HR.com/James McNeil.” “Landmark is recognized for having one of the best faculty bodies in the bu

ISACA to Host Inaugural ISACA Conference Europe Virtual Event16.9.2021 19:21:00 CEST | Press release

Next month, ISACA will host the first-ever ISACA Conference Europe, an event focused on emerging technologies, best practices, and leadership development. The conference will take place virtually 20-22 October featuring topics for business technology professionals as they navigate their transformational roles. ISACA Conference Europe sessions range from 25-75 minutes in length and provide the opportunity to earn up to 19 continuing professional education credits. Conference tracks focus on IT audit, IT governance, COBIT, CMMI, cybersecurity, privacy, risk, performance improvement, emerging technologies, and leadership development & career management. Sessions will be presented live via ISACA’s virtual conference platform, and many will feature a live Q&A with speakers. Attendees will have extended access to the sessions and content so they may view them at their own pace. Session topics include data ethics laws, blockchain, CMMI V2.0, cloud security, auditing artificial intelligence, q

Virpax ® Pharmaceuticals Announces Closing of $40 Million Public Offering of Common Stock16.9.2021 19:00:00 CEST | Press release

Virpax® Pharmaceuticals Inc. (“Virpax” or the “Company”) (NASDAQ:VRPX), a company specializing in developing pharmaceutical products for pain management, today announced the closing of an underwritten public offering of 6,670,000 shares of its common stock at a public offering price of $6.00 per share, for gross proceeds of $40,020,000, before deducting underwriting discounts and offering expenses. In addition, Virpax has granted the underwriters a 45-day option to purchase up to an additional 1,000,500 shares of common stock to cover over-allotments at the public offering price, less the underwriting discount. Virpax intends to use the net proceeds from the offering to fund research and development of the Epoladerm, Probudur, Envelta and AnQlar indications and other development programs, pay fees and expenses associated with the offering, repay outstanding promissory notes issued to the Company’s Chief Executive Officer and pay deferred compensation due to the Company’s Chief Executiv

Verimatrix To Highlight Success In Enabling Secure Virtual Hollywood Events at Variety Entertainment & Technology Summit16.9.2021 17:45:00 CEST | Press release

Regulatory News: Verimatrix, (Paris:VMX), the leader in powering the modern connected world with people-centered security, today announced that Jon Samsel, Senior Vice President of Marketing, will discuss the value of harnessing security as a differentiator for the M&E industry during the upcoming virtual Variety Entertainment & Technology Summit. On Thursday, September 23, 2021 from 10:50 to 11:20 a.m. Pacific Time, Samsel will take part in a panel alongside Little Cinema Digital CEO Jay Rinsky and moderator Todd Spangler, NY Digital Editor at Variety. Register for free today. Titled, “Security That's Transforming Hollywood: The Little Cinema Digital Story,” the online event serves as an opportunity for attendees to learn how Verimatrix and Little Cinema Digital collaborated to transform the traditional Hollywood movie premiere business into an immersive virtual event platform that breaks down traditional limitations of venue capacities or locations. By leading with security, the comp

Exactech’s Equinoxe® Stemless Shoulder Replacement System Debuts in Europe16.9.2021 16:06:00 CEST | Press release

Exactech, a developer and producer of innovative implants, instrumentation and smart technologies for joint replacement surgery, announced today that the first anatomic total shoulder surgery has been performed in Europe using its bone-conserving, 3D-printed Equinoxe® Stemless Shoulder. Prof. Mark Tauber, MD, PhD, of Athos Klinik in Munich, Germany, performed the first surgery earlier this month. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210916005561/en/ Prof. Mark Tauber, MD, PhD, of Athos Klinik in Munich, Germany performed the first surgery in Europe using Exactech's bone-conserving, 3D-printed Equinoxe® Stemless Shoulder (Photo: Business Wire) “It was wonderful to be the first user of the Exactech Stemless humeral component in Europe,” Tauber said. “I’ve used stemless implants with various systems since 2007, so I know what we are talking about and have to congratulate Exactech for this product. The user-friendly in

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom