Banking & Financial Services
Retail Banking Services
Generating Retail Banking Impact
Genpact helps banks achieve operational excellence, and transform business by extending digital's power beyond the front, middle and back office through its unique Lean DigitalSMapproach, which combines advanced process-centric digital technologies, design thinking, Lean principles, and domain expertise.
Our deep industry experience has shown us that process is an untapped resource for banks in driving front- and back-end business results. To drive these outcomes, Genpact has created Centers of Excellence (CoE) in 18 countries throughout the world. These enable us to devise the best combination of on- and off-shore solutions to support a wide range of retail products and to "industrialize" the related operations, making them more scalable, agile, transparent, cost-effective, and intelligent.
Our experience, unique tools, and methodologies enable us to deliver best-in-class financial services solutions and smooth process transformation. Our solutions include:
Omnichannel Customer Acquisition and Servicing
Multi-Channel Customer Acquisition and Service (MCAS) service line helps banks serve their customers through the channel of their choice throughout the entire banking life cycle.
Genpact's mortgage processing services span the globe, combining worldwide delivery capabilities with improvements in process performance that help mortgage lenders intelligently manage costs and improve customer satisfaction
Genpact offers a wide spectrum of retail brokerage services—from securities processing and collateral management to regulatory reporting, portfolio reconciliation, valuation, and clearing. The combination of experience in brokerage market operations, spanning front, middle, and back offices; process rigor; and industry expertise enables our clients to meet the requirements of a demanding customer base.
Rising regulatory scrutiny of Anti-Money Laundering (AML) programs and increasing penalties for non-compliance have challenged financial institutions with the need to strengthen their Customer Due Diligence (CDD) processes.
The challenges facing the collections process are growing. Companies need a strategic partner who can deliver improved collections efficiencies. With unique capabilities combining industry-specific process management and a globally talented workforce, patented technology, and analytics, Genpact has developed a comprehensive approach to collections that diminishes revenue loss while enhancing the customer experience.
A large North American retail bank was facing an increasingly competitive market and escalating costs resulting from changes in its business model and the regulatory landscape. To address these, the bank needed to strengthen global operations and drive process improvement. Genpact helped the bank employ a “virtual captive" operating model and create a best-in-class, large-scale global business process operation that has progressively encompassed knowledge-intensive services, resulting in a business impact of $330 million.
A fortune 100 financial services firm needed to optimize customer service operations of its cards division. Genpact solutions helped the firm realize $40 million in costs savings through collaborative business projects and sustained leadership through data-driven analytics and intelligent reporting. The firm also managed to reduce year-over-year operating costs by 5%, increase self-service penetration by 25%, increase first-call resolution by 12%, and improve customer satisfaction scores by more than 700 bps.