Genpact ranked 'leader' in retail banking BPO

NelsonHall’s vendor evaluation and assessment tool 'NEAT' score is based on a combination of analyst assessments of a vendor’s ability to deliver immediate client benefits and feedback from clients on levels of partnership and ability to meet future client requirements.

NEAT is a method by which strategic sourcing managers can evaluate outsourcing vendors and is part of NelsonHall's Speed-to-Source initiative.

With demand moving from mature to emerging economies and to emerging client segments, banks are looking for operating models for reduced cost and capital allocation, faster local market entry and quicker product introductions.

NelsonHall’s assessment reflects the fact that Genpact’s global service capability and expertise for retail banking BPO, built from long term engagements with global clients and the ability to drive operational excellence through analytics and Lean Six Sigma methods enables clients’ need for advanced – or industrialized – operating models.

Genpact’s operating model solutions cover compliance, risk management, fund management, reporting, process and platform transformation, and mortgage origination services.

Genpact’s extensive capabilities in investment banking cover asset management, custody and fund administration, retirement services, record keeping services, brokerage and wealth management firms.

Its ability to drive efficiency and effectiveness improvement enables clients to improve data quality, reducing turn-around time, simplifying and automating processes, and benchmarking of processes.

These are critical operational needs for capital markets players grappling with the transformation of their business models.

“Genpact provides a wide range of retail banking and capital market BPO services with an emphasis on analytics, data management, and risk management,” said Andrew Efstathiou, director, Banking Sourcing Program, NelsonHall.

Efstathiou added, "Genpact clients rely on them to maintain workforce stability by using their large staff, in a field where turnover typically undermines client specific process knowledge. Genpact is relied on for lean project capabilities, which is perceived as a core strength of the company."

“Genpact is privileged to be positioned as a leader in the NEAT evaluations for retail banking and capital markets BPO market segment assessments,” said Mohit Thukral, senior vice president and business leader, Banking, Financial Services, Insurance and Healthcare, Genpact.

Thukral added, “Our deep domain expertise and experience helps our clients through their transformation journeys as we consolidate and standardize their business operations by integrating analytical tools, Smart Enterprise Processes (SEPSM) methodology and targeted technology solutions.”