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Andy Efstathiou

Andy is the Banking Sourcing Research Director at NelsonHall where he has global responsibility for Retail and Commercial Banking BPS, Capital Markets BPS, and RPA, AI, and FinTech services in Banking, including consulting, design & deploy, and operations support.

Genpact - Mortgage and Loan BPO

Vendor Analysis

by Andy Efstathiou

published on Mar 10, 2015

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Report Overview:

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.

Who is this Report for:

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.

Scope of this Report:

The report provides a comprehensive and objective analysis of M&L offerings, capabilities, and market and financial strength, including:

  • Identification of the company's strategy, emphases and new developments
  • Analysis of the company's strengths, weaknesses and outlook
  • Revenue estimates
  • Analysis of the profile of the company's customer base including the company'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 of delivery locations.

Key Findings & Highlights:

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:

  • Irvine, CA
  • Dallas, TX
  • Danville, IL
  • Manila, Philippines
  • Juarez, MX
  • Jaipur
  • Gurgaon.

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:

  • Americas
  • U.K.
  • Australia.

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
  • Processes: Genpact will focus on a few key processes in banking, one of which is mortgage origination.

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Delivery
  • Pricing and Contracts
  • Platforms and Intellectual Property
  • Changes to Operations
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Strengths
  • Challenges
  • Outlook

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