CPT Global partners with Wipro in financial sector testing deal

CPT Global (ASX:CGO), has struck a deal with IT consulting and outsourcing firm, Wipro, to deliver IT testing services to one of Australia’s biggest financial institutions.

CPT Global, which is listed on the Australian Securities Exchange (ASX), is a specialist IT consulting services company with operations in Australia, North and South America, Europe and Asia.

While the company is remaining tight-lipped about the identity of the financial institution, the terms of the deal see the two companies deliver testing services over a five-year term, with the partnership set to result in “transformational outcomes” for the client.

The scope of the partnership with Wipro includes test management, test governance, test environment management, as well as functional and non-functional testing. The client is expected to realise cost reductions and efficiency gains through automation, the use of specialised software, innovation and a mix of other resources and skills.

“We’re excited to be partnering with Wipro and are pleased to be embarking on our first customer engagement together,” CPT Global Australia and Asia CEO, David Lynch, said.

“The synergies between Wipro’s best practices and global delivery capability, and CTP’s deep technical experience, trust from clients and testing capability, help us offer a unique value proposition for assuring quality business outcomes whilst driving efficiency for customers.

“We see potential for expanding the success of our partnership with Wipro,” he said.

Wipro, based in Bangalore, India, announced in October last year that it would acquire cloud services vendor, Appirio, for US$500 million in a bid to bulk up its cloud applications business.

The move is expected to see Appirio be in a better position to fight back against big consulting firms like Accenture and Deloitte.

Meanwhile, CPT's financial services sector deal comes as one of Australia’s largest financial institutions, Westpac, closes in on the completion of its new wealth system, Panorama, with the bank improving the functionality and usability of various mobile applications, and continuing to digitize manual activity.

“We’ve launched a number of new systems, including Samsung Pay, SuperCheck, and our new wealth system, Panorama,” Westpac Group chief, Brian Hartzer, told shareholders on 8 May. “And we’ve added around 100 new online features to assist customers.”