Banks are evolving their operating models to adapt to changed market conditions, with the objective of reducing costs while maintaining compliance. Transforming and outsourcing parts of their operations is one of the levers available to banks in their journey. Genpact Limited (NYSE: G), a global leader in designing, transforming and running intelligent business operations, announced it has been positioned as a “Leader” in Everest Group’s Banking BPO – Service Provider Landscape with PEAK MatrixTM Assessment 2014.
Genpact is one of only two organizations to receive the Leader designation based on Everest Group’s evaluations of 23 firms’ market success, scale, scope, technology and delivery footprint. In naming Genpact as a Leader, Everest Group referred to Genpact’s strengths in its scale, scope, delivery footprint, social media and cloud capabilities. Genpact was specifically cited as having a large scale in banking BPO.
Mortgage is a good example of a dynamic market environment that requires agility, typically obtained through new organizational structures, technology and analytics. In its assessment, Everest Group also cited Genpact’s BPaaS mortgage solution, Quantum, which helps financial institutions reduce costs and cut mortgage cycle times while increasing transparency and lowering risk. Additionally, the assessment highlighted the scale and scope of Genpact’s delivery capability in various banking processes. For example, Everest Group identified Genpact as having the largest share in lending services and cards servicing.
“Everest Group’s analysis underscores the value of our unique strategy combining domain expertise and operational process excellence with Systems of EngagementTM solutions and technology transformation services, as well as Data-to-Action Analytics.SM This practical combination makes our clients more competitive by enhancing their operations through a contemporary technology and analytics genome, making those operations intelligent – that is, able to sense the environment, react, and learn from their actions – at scale,” said Mohit Thukral, senior vice president and business leader, Banking, Financial Services and Insurance, Genpact. “Since we spun out from GE Capital, we have taken our industrialized operations approach to the world’s largest and most complex banking institutions, delivering billions of dollars of impact.”