Genpact- RPA and AI in Banking BPS
Who Is This Vendor Assessment For?NelsonHall’s Retail Banking BPS Vendor Assessment for Genpact is acomprehensive assessment of Genpact’s RPA and AI offerings andcapabilities for the banking industry designed for:
Sourcing managers monitoring the capabilities of existing suppliers ofRPA and AI services and identifying vendor suitability for bankingindustry (consumer banking, commercial banking, and capital markets)RPA and AI services RFPs
Vendor marketing, sales and business managers looking to benchmarkthemselves against their peers
Financial analysts and investors specializing in the support servicessector.
Scope of the ReportThis NelsonHall assessment analyzes Genpact’s offerings and capabilities inRPA and AI services for the banking industry. Genpact is one of a number ofbanking services vendors analyzed in NelsonHall’s comprehensive industryanalysis programs.Genpact’s RPA and AI practices are part of its Lean Digital services. Genpactbegan its journey in automation at the end of 2014. Initially, its efforts wereall focused on BPS delivery of its RPA and AI services; but now that it hasdeveloped its approach to RPA and AI, its focus has shifted to delivery in itsclient's internal shared services environments.Genpact designed its Lean Digital strategy with three components: Enabling operations to fulfill at the speed of customer-facing channels:Genpact believes that new technologies (the internet, mobility, socialmedia) have increased the speed and responsiveness of enterprises tocustomer demand. However, operations (middle and back-officeprocessing) have not kept pace due to legacy system limitations. Genpacthas focused its Lean Digital efforts on enabling the legacy operationssystems to operate at the same speed as the front-office New technology: enablement of a Lean Digital strategy would require newtechnologies, such as RPA, NLP, NLG, translation, IIoT, machine learning,and cognitive and AI, which requires Genpact to conduct due diligence onemerging technologies and partner with product vendors for delivery Domain and process definition: identifying the appropriate processes forenablement, and the appropriate solutions to achieve that enablement.In April 2015, Genpact announced its Lean Digital offering and began toactively pursue clients for this initiative. Genpact has often built capabilities by acquisition and has made some recentacquisitions to support its RPA and AI initiatives. Key recent acquisitionsinclude:
Endeavor Software Technologies: mobile digital solutions vendor withconsulting capabilities for mobile solutions enablement across theoperations environment (Q3 2015)
PNMSoft: vendor of dynamic workflow, case management, and workoptimization solutions (Q3 2016)
Open Wealth platform (Citibank): Citibank’s proprietary capital marketsoperating platform, including AI capabilities (Q3 2015).
Scope of the ReportThe report provides a comprehensive and objective analysis of Genpact’sRPA and AI services for banking offerings, capabilities, and market andfinancial strength, including:
Identification of the company’s strategy, emphases and newdevelopments
Analysis of the company’s strengths, weaknesses and outlook
Analysis of the profile of the company’s customer base including thecompany’s targeting strategy and examples of current contracts
Analysis of the company’s offerings and key service components
Analysis of the company’s delivery organization including the location ofdelivery locations.