Wipro Limited, leading technology services and consulting company, announced the launch of a new Middle East financial services advisory capability. Capco, a Wipro company, will offer strategic management and technology consulting capabilities to financial services firms in the Middle East to enable their transformation, digitization, and business consolidation initiatives.

Regional macroeconomic trends, including diversification away from the oil dollar economy, are driving strong investment in financial services, with a focus on digital innovation, new banking, post-merger integration and fundamental transformation on a large scale. Against this changing backdrop, consulting spending in the Gulf Cooperation Council (GCC) region will reach $3.3 billion by 2022 – of which financial services account for about 30% – and is expected to grow. 30% increase over the previous year in the coming time. * With its expertise in successfully driving transformation programs for leading global financial institutions, Capco is well-positioned to tap growth opportunities in the region.

The new consulting capacity will be led by Naim Alame as Vice President, the Middle East. He is from Accenture Middle East and has extensive experience in the financial services sector, delivering digital and physical transformation programs at leading banks in the region.

“Our ambition in the Middle East is simple – for Capco, as a creative, disruptive management and technology consultancy, to support the region’s most prestigious financial services institutions. Capco has always been about pushing boundaries and creating new opportunities, for our business and our people. Our new Middle East presence continues to deliver on that.”

Lance Levy, CEO of Capco and Executive Sponsor of Wipro’s Financial Services Business.

“The success of Capco’s innovative and entrepreneurial approach is recognized across the financial services industry. Capco’s bold ideas and value propositions will allow financial services firms in the region to enhance the scope, accessibility, and attractiveness of their offerings to their customers. I look forward to partnering with Middle Eastern clients to design and implement bespoke, strategic programs that will deliver true value and differentiation.”

                                                    Naim Alame, Managing Partner – Middle East, Capco.

“The launch of Capco’s financial services consulting capability will allow us to accelerate our Middle East clients’ innovation plans and end-to-end transformation journeys. The combination of Capco and Wipro capabilities will enable us to offer a front-to-back proposition that addresses our clients’ most pressing challenges and opportunities. We are confident that this new advisory focus will strengthen our growth ambitions in the region.”

Mohamad Hamza, Regional Head of Banking, Financial Services, & Insurance (BFSI) – Middle East, Wipro Limited.