Wipro Targets Buy-Side Market Share with ReconX

Wipro's ReconX platform uses machine learning to identify patterns and spot errors.

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The reconciliations space is being driven by three forces: regulatory demands, the need to cut costs, and the need to gain greater insight into trading strategies. 

For outsourcer Wipro, that has led them to launch ReconX, which went into full production earlier this year. ReconX is the vendor's cloud-based platform that is currently geared toward the alternatives space in North America, with plans to expand into Europe and Asia. Wipro is in contract with three hedge funds and hopes to grow

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