One of the world’s largest financial institutions turned to Genpact for help in achieving its strategic priorities. The firm wanted ways to optimize operating costs, streamline compliance efforts, and develop overall smarter operations. The challenge: could it grow its business while improving the customer experience at the same time?
We knew it could and that setting up global business services across business lines would be key. So we embedded domain experts and Lean Digital specialists in the bank who could design and implement operating models, and support innovation across the company’s lines of business.
We also set up and transformed three operating centers supporting the front, middle, and back offices. These centers handled wealth and investment management, wholesale banking, risk, finance, and accounting.
The business impact to date has been over $500 million. The bank has cut its exposure to Regulation-E infractions, but more importantly, it has created faster and more efficient on-boarding and fund disbursement processes. So the large-scale reengineering and automation initiatives we helped put in place are not only delighting customers, but also turning the customer experience banking mantra into a reality. And looking forward, the bank now has a transformation use case that it can apply to other areas of its business.