Banking Business Process Outsourcing: Genpact Named a Leader by Analyst Firm Everest
Genpact's strength lies in its scale, scope, and delivery footprint
NEW YORK, June 10, 2015 - 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, today announced that 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 AnalyticsSM. 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."
More information about Genpact's global banking and financial services business is available at http://www.genpact.com/home/industries/banking-financial-services.
To access a summary of Everest Group's report: https://research.everestgrp.com/Product/EGR-2014-11-R-1272/Banking-BPO-Service-Provider-Landscape-with-PEAK-Matrix-Asses.
Genpact (NYSE: G) stands for "generating business impact." We design, transform, and run intelligent business operations including those that are complex and specific to a set of chosen industries. The result is advanced operating models that assist our clients in becoming more competitive by supporting their growth and managing cost, risk, and compliance across a range of functions such as finance and procurement, financial services account servicing, claims management, regulatory affairs, and industrial asset optimization. Our Smart Enterprise Processes (SEPSM) proprietary framework helps companies reimagine how they operate by integrating effective Systems of EngagementTM, core IT, and Data-to-Action AnalyticsSM. Our hundreds of long-term clients include more than one-fourth of the Fortune Global 500. We have grown to over 68,000 people in 25 countries, with key management and a corporate office in New York City. Our global critical mass doesn't dilute our flexible and collaborative approach, and our management team still drives client partnerships personally. We believe we are able to generate impact quickly because of our business domain expertise and experience running complex operations, driving our focus on what works and making transformation sustainable. Clients attribute much of our success to our unique history: behind our passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 16 years. For additional information, visit Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
For more information:
+44 (0)207 309 1053