Authority Magazine: Can you tell our readers a bit about your work to promote financial inclusion? Without saying names, can you share a story about a person your initiative helped?
BK Kalra: Absolutely. At Genpact, our purpose is the relentless pursuit of a world that works better for people. An inclusive world, including one that is financially inclusive, is by definition a world that works better for people. At Genpact, we promote financial inclusion in two primary ways: 1) directly as a company and 2) through our work with our financial and big tech clients.
As a company, we directly promote financial inclusion through our diversity, equity, and inclusion efforts. For example, Genpact runs a project called the Livelihoods Project, which skills women in rural, Indian communities – most of whom have never had a job, never handled money, never seen a profit-and-loss statement – and teaches them to become entrepreneurs. Similarly, we run a program called Rise Together, which provides financial and career help and education to job seekers from families who have lost their primary breadwinners to COVID-19. These programs provide us with opportunities to live out our purpose.
Secondly, we promote financial inclusion through our clients in the financial services and big tech industries. We enable these clients to use the power of data and advanced digital technologies to help promote, and maintain, financial inclusion. For example, during the pandemic, Genpact worked with a US regional bank to analyze the notes customer-service representatives took during routine customer calls to find those who might need financial assistance. We identified about 20 keywords and phrases, ran them through our artificial intelligence engines, and then created models to proactively offer hardship programs to customers that had loans they were struggling to pay back.