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CASE STUDY
Generating operational impact for a large North American retail bank CHALLENGE Strengthen global operations and drive process improvement A large North American retail bank was facing an increasingly competitive market as well as escalating costs resulting from changes in its business model and the regulatory landscape. Among the challenges: maintaining operational excellence, improving the customer experience, enacting better organizational controls, and mitigating regulatory risk. To address these, the bank needed to strengthen global operations and drive process improvement.
Solution A globally distributed ‘virtual captive’ model Through a collaborative planning process, all business units were engaged and common goals identified. The bank decided to employ a “virtual captive” operating model, enabled by Genpact, covering all functions and business lines. An operational excellence framework was created, utilizing Lean Six Sigma management practices— one of the first transformations of its kind and scale in the banking industry. A multi-location model spanned the Americas (transformation, re-engineering and IT), India (transactions processing and technology), and the Philippines (voice operations) along with onsite re-engineering support. The engagement followed a “fix and ship” sequence, wherein process re-engineering experts were deployed on location to streamline wealth, brokerage and retirement services, as well as F&A and IT operations, before transitioning the work to Genpact.
Impact The organizational transformation has created a best-inclass, large-scale global business process operation that has progressively encompassed knowledge-intensive services and resulted in a business impact of $330 million.
overall business impact
$330 million
Genpact engagement begins
Operational excellence framework created
Implemented “virtual captive” model
Greater flexibility of operations
Multi-location model with client site support Evolved delivery platform from transactional to knowledge intensive services
Lower costs
Better decision making
Best-in-class large scale business process operation
Expansion from 15 processes to 85 Organizational transformation achieved
85%+
client satisfaction
Portfolio analysis
Card and mortgage analytics
Fraud prevention
Compliance and regulatory reporting
Accommodates additional future transformation
Overall Genpact Impact for the Banking and Financial Services Industry
$1.5 billion+
All figures in US dollars
Genpact Limited (NYSE: G) is a global leader in designing, transforming and running business processes and operations. Genpact generates impact for 700+ clients including over 100 of the Fortune Global 500. We offer an unbiased combination of smarter processes, analytics and technology through our 65,000+ employees in 25 countries, with key management based in New York City. For more information, visit www.genpact.com/home/industries/banking-financial-services or email
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