Everest Group Names Genpact a Leader and Star Performer in Financial Crimes and Compliance Operations Services
Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation, today announced that Everest Group, a leading consulting and research firm, has named Genpact a Leader and Star Performer in the Financial Crimes and Compliance Operations Services Peak Matrix® 2019.
The report evaluates 21 service providers across areas including market impact, vision, and capabilities. Everest Group emphasizes Genpact’s deep domain expertise, strategic acquisitions including riskCanvas in January 2019, and integrated solutions to transform clients’ financial crimes and risk management operations.
“Risk management challenges to combat financial crimes include the inability to analyze large data volumes with manually-intensive investigations,” said Manu Aggarwal, vice president, Everest Group. “Genpact’s continued investments in digital technology, combined with its geography-specific risk advisory councils that add to its domain expertise, help financial institutions transform operations to drive more strategic business impact.”
Improving service and scaling operations with digital technology
Genpact’s end-to-end capabilities across digital technology, consulting services, and intelligent operations help financial institutions reimagine their financial crime and compliance processes to enable competitive growth. For example, Genpact leveraged robotic process automation technology, powered by its Genpact Cora digital business platform, to transform the anti-money laundering (AML) risk management operations of a major U.S. bank. Automating repetitive data-gathering tasks allowed investigators to focus on more complex, value-added activities. The bank also enhanced customer service by scaling operations 24 hours a day, seven days a week, delivering faster, more accurate AML activities, boosting productivity by 75%.
“With ever-evolving regulations, and new threats from financial crimes, banks need agile operations with quicker, smarter access to data," said Manish Chopra, global risk and analytics leader, Banking and Capital Markets, Genpact. “Being recognized as a leader again by Everest Group underscores Genpact’s ability to help financial institutions respond quickly to market challenges and transform their risk management operations from mere compliance activities to a strategic competitive advantage.”
Risk and compliance services require specialized professionals who can keep pace with the constantly evolving regulations and practices. To continue to foster skills in this area, Genpact recently created its Financial Crimes and Compliance Talent Academy. This program helps build a training ecosystem to encourage early careers, chart out learning journeys for existing talent, and provide certifications to upskill talent.
