Vendor Analysis
published on Nov 14, 2016
Report Overview:
This NelsonHall vendor assessment analyzes Genpact's offerings and capabilities in RPA and AI in Banking BPS.
Who is this Report for:
NelsonHall’s Retail Banking BPS Vendor Assessment for Genpact is a comprehensive assessment of Genpact’s RPA and AI offerings and capabilities for the banking industry designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of RPA and AI services and identifying vendor suitability for banking industry (consumer banking, commercial banking, and capital markets) RPA and AI services 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 RPA and AI services for banking 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:
This NelsonHall assessment analyzes Genpact’s offerings and capabilities in RPA and AI services for the banking industry. Genpact is one of a number of banking services vendors analyzed in NelsonHall’s comprehensive industry analysis programs.
Genpact’s RPA and AI practices are part of its Lean Digital services. Genpact began its journey in automation at the end of 2014. Initially, its efforts were all focused on BPS delivery of its RPA and AI services; but now that it has developed its approach to RPA and AI, its focus has shifted to delivery in its client'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, social media) have increased the speed and responsiveness of enterprises to customer demand. However, operations (middle and back-office processing) have not kept pace due to legacy system limitations. Genpact has focused its Lean Digital efforts on enabling the legacy operations systems to operate at the same speed as the front-office
- New technology: enablement of a Lean Digital strategy would require new technologies, such as RPA, NLP, NLG, translation, IIoT, machine learning, and cognitive and AI, which requires Genpact to conduct due diligence on emerging technologies and partner with product vendors for delivery
- Domain and process definition: identifying the appropriate processes for enablement, and the appropriate solutions to achieve that enablement.
In April 2015, Genpact announced its Lean Digital offering and began to actively pursue clients for this initiative.
Genpact has often built capabilities by acquisition and has made some recent acquisitions to support its RPA and AI initiatives. Key recent acquisitions include:
- Endeavor Software Technologies: mobile digital solutions vendor with consulting capabilities for mobile solutions enablement across the operations environment (Q3 2015)
- PNMSoft: vendor of dynamic workflow, case management, and work optimization solutions (Q3 2016)
- Open Wealth platform (Citibank): Citibank’s proprietary capital markets operating platform, including AI capabilities (Q3 2015).