Vendor Analysis
published on Dec 03, 2024
Report Overview:
This NelsonHall vendor assessment analyzes Genpact's offerings and capabilities in core banking services
Who is this Report for:
NelsonHall’s ‘Transforming Core Banking Services’ profile on Genpact is a comprehensive assessment of Genpact’s offerings and capabilities for the core banking sector, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of technology and operational services and identifying vendor suitability for core banking services in 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 Genpact’s BFS-focused core banking service offerings and capabilities and market and financial strength, including:
- Identification of the company’s strategy, offerings, 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 Genpact service components
- Analysis of the company’s delivery organization including the location of delivery centers.
Key Findings & Highlights:
Genpact has been delivering operations and technology services to the financial services industry since its inception. Since its IPO in 2007, it has focused on growing its capabilities for BFS in CX, AI, and risk management. In 2017, it acquired Rage Frameworks, an AI vendor for financial services. In June 2017, it launched its Core AI platform.
Today, Genpact has positioned itself as an AI-first solution provider. It has focused its core banking transformation services on:
- Consulting: enhancing its consulting capabilities with AI-supported consulting and staff across all three key markets (i.e., North America, Europe, and APAC)
- IT services: expanding the capabilities of technology in operations with three strategies:
- Integrate AI into solutions to increase efficiency
- Increase the use of business operations as as-a-Service (BPaaS)
- Expand its skilled and certified staff
- Managed services: deliver BPaaS from the cloud
- BPS: using its AI offerings to reduce manual processing or, where required, increase agent-assisted manual processing.