NelsonHall’s Mortgage and Loan (M&L) BPO Vendor Assessment for Genpact is a comprehensive assessment of Genpact’ M&L BPO offerings and capabilities designed for:
Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for M&L BPO RFPs
Vendor marketing, sales and business managers looking to benchmark themselves against their peers
Financial analysts and investors specializing in the support services sector.
Key Findings & Highlights
This NelsonHall assessment analyzes Genpact’ offerings and capabilities in retail banking BPO. Genpact is one of a number of mortgage and loan BPO companies analyzed in NelsonHall’s comprehensive industry analysis programs.
Genpact began delivering financial industry specific processes to General Electric Capital in 1998 (two years after the founding of GECIS, which at the time was part of General Electric). The financial services experience gained with GE Capital allowed Genpact to bid for other financial services business.
This vendor profile focuses on mortgage and loan BPO (M&L BPO). Genpact’s M&L BPO services are delivered out of its business process management unit. Genpact began delivering M&L BPO services in 2006, when it decided to enter the mortgage BPO business with the acquisition of Moneyline Lending Services (MLS), which provided private label mortgage processing services. MLS had 150 FTEs at the time.
Genpact has continued to add capabilities that complement its M&L BPO capabilities. A notable addition was the acquisition of Quantum Technology in 2011. Quantum was acquired from First American, a large title company. It was a mortgage origination software vendor which was able to provide Genpact with a configurable BPO platform.
Genpact M&L BPO delivers service from seven delivery centers:
Genpact’s primary targets for M&L BPO are:
Tier one U.S. mortgage originators
Tier one mortgage servicers
Large wealth management firms in the U.S.
Tier one Australian banks
Large U.K. lenders
Commercial finance companies in the U.S.
In future, Genpact will continue to target U.S. and U.K. lenders, but will increase its focus on wealth managers and jumbo loan originators.
Genpact’s M&L BPO clients by geography, are in:
Genpact recently completed a three year review of its business strategy (refer to Key Vendor Assessment for detailed review). Key strategic initiatives adopted from this exercise include narrowing its business focus to a few key:
Industries: banking is the largest single industry for Genpact, and is a high focus industry, in which Genpact will aggressively invest in developing proprietary IP and sales presence. Investment levels in banking will increase by 3X to 6X, depending on geography and service line
Geographies: Genpact will focus on key geographies; in banking it will focus on banks headquartered in mature economies