VARINDIA IT MAGAZINE

Genpact and Arria NLG, a world leader in artificial intelligence and natural language generation, have tied up to help banks, financial services companies, and other enterprises dramatically transform how they leverage automation and run complex business reporting processes. “Through this relationship with Genpact, Arria NLG’s Platform reaches a far wider, global audience than can be achieved through our own direct sales process,” said Stuart Rogers, Chairman & Chief Executive Officer, Arria NLG. “Our investment in expanding our development and technical teams to support the projects coming from Genpact is a core part of our strategy, and we also look forward to partnering together in Genpact’s Silicon Valley innovation lab.” Read more

Genpact has inked a Memorandum of Understanding (MoU) with one of India’s premier universities, Jadavpur University. With this MoU, the two organizations have agreed to work together to develop an Analytics & Research programme as part of the Masters in Economics stream run by the University. The course aims to provide both theoretical and practical experience in analytics as applied in different industries. Upon successful completion of the programme, students will become eligible for employment in the Risk Analytics practice at Genpact.  manish chopra genpact 150x150 Genpact and Jadavpur University together to develop an Analytics & Research ProgrammeAnnouncing signing of the MoU, Manish Chopra, Senior Vice-President & Business Leader – Risk Services, Genpact, said, “Genpact’s Risk Academy differentiates us in quickly building a sustainable talent pool of industry-ready resources in niche areas like model validation, stress testing, data analytics, etc. We look f...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Genpact Limited has entered a partnership agreement with Calypso Technology Inc.  Genpact's Enterprise Applications Services (EAS) group is believed to be able to provide a range of support services including implementations and upgrades for the Calypso Trading and Risk Management application software suite utilized by major financial institutions globally under the agreement. Genpact and Calypso Technology is supposed to help capital markets clients increase the efficiency in their trading and risk management operations, including helping to reduce their total cost of ownership (TCO) and implementation and upgrade cycle times, as well as efficiently manage ongoing maintenance and support requirements. Sandeep Sahai, Sr. VP, IT Solutions & Capital Markets, Genpact said, "As global business... See More

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   NASSCOM Foundation and Genpact have announced the NASSCOM Social Innovation Honours. Entries for the national competition are now open, and the winners will be honoured at the NASSCOM India Leadership Forum early next year. "The NASSCOM Social Innovation Honours redefines the use of IT. In a wide variety of ways, technology is being used to improve the lives of Indians and bring sustainability to our planet. In partnership with Genpact, we believe it is this potential which will bring true change to our India," said Rita Soni, CEO, NASSCOM Foundation. "We are delighted to be associated with an award that honours the exemplary work done by entrepreneurs in improving the social landscape of the nation," said Tiger Tyagarajan, President & CEO, Genpact.   NASSCOM Foundation has also introduced a Special Recognition Award: “Innovation for Children” in partnership with UNICEF. This award will honour innovation...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Genpact has signed a definitive agreement to acquire Triumph Engineering Corp. Closing is subject to satisfaction of certain customary conditions. Terms of the deal are not disclosed.Triumph enhances Genpact's services portfolio for the infrastructure and manufacturing sector by adding capabilities in the large and high-growth segment of engineering and technical services.   "The acquisition of Triumph is an excellent fit for Genpact. We are seeing a huge demand for engineering services in highly technology-intensive industries like aviation, energy and oil and gas. This acquisition will allow us to combine Triumph’s onsite expertise and depth in engineering with our global scale, end-to-end process management, analytics, and technology capabilities to meet this growing demand," said Tiger Tyagarajan, President & CEO, Genpact. "Triumph is excited to join the Genpact team in this next step in our evolution...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Genpact has released virtual correspondent and private-label origination applications for its Quantum Mortgage Operating System (MOS). The applications are leveraged with Genpact’s Mortgage Business Process as a Service offering (BPaaS), which combines the technology with Genpact’s business process services, data analytics and mortgage domain expertise.  The virtual correspondent and private label applications combine Quantum MOS’ data-centric loan automation platform with Genpact Mortgage Services’ BPaaS offering to increase effectiveness and reduce the loan cycle time by as much as 30 per cent. The applications can be set up in either a delegated or non-delegated model, enabling users to customize the workflow to best suit the needs of each lender.   Roger Hull, Vice-President, Genpact Mortgage Services, said, “Lenders who can push enterprise software to their correspondents while also leveraging business proces...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Genpact Limited has signed a definitive agreement to acquire Accounting Plaza. This acquisition is believed to expand Genpact's domain expertise in the retail industry in addition to its service delivery footprint in Europe. The terms of the deal are not disclosed yet. Tiger Tyagarajan, President & CEO, Genpact said, "This deal gives Genpact domain expertise in the retail industry, an industry which is transforming globally. Along with finance and accounting, one of our core capabilities, we now gain tremendous traction in the retail industry. The addition of operating centers in The Netherlands will further expand and grow our business in Europe, especially with large European multinational corporations. We're looking forward to partnering with Ahold Europe and applying our capabilities in smarter processes, analytics and technology to help support their growth plans." Pascal Henssen, Sr. VP & COO, Genpact Europe s...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Genpact has integrated Digital Docs Inc's document compliance system into Genpact Mortgage Services' Quantum Mortgage Operating System (MOS). This integration provides complete document and disclosure compliance within Quantum's workflow, keeping all loan data in one system and eliminating redundant data entry. "Genpact always aims to develop and manage business processes to be the most effective, efficient and compliant for our clients, especially in the mortgage industry. Our Quantum MOS offering, especially with this Digital Docs integration, is the confluence of process excellence, mortgage industry domain expertise, leading technology, and superior data management," said Mohit Thukral, senior vice president, Banking, Financial Services, Insurance and Healthcare, Genpact. "The factory-line assembly method of loan production is no longer profitable or efficient in today's technology environment. Integrating ...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Genpact has announced financial results for the fourth quarter and full-year ended December 31, 2011. Revenues from Global Clients grew 42.7% for the full year 2011 and 46.9% in the fourth quarter. Business process management revenues from Global Clients grew by 23.4% for the full year, and 20.5% in the fourth quarter and were led by growth in Smart Decision Services of 52.4% for the full year and 54.8% for the fourth quarter. Revenues from Global Clients represented approximately 69.8% of Genpact's total revenues in 2011, with the remaining 30.2% of revenues coming from GE. GE revenues increased 1.6% for the full year 2011 and were relatively unchanged in the fourth quarter. N.V. 'Tiger' Tyagarajan, Genpact's President & CEO said, "We had a great 2011 and finished the year with a very strong fourth quarter. Genpact delivered growth in revenues, adjusted operating income and margin, as well as EPS for the year. We al...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Genpact Limited has announced its offering that streamlines the application-to-issue (A2I) processes for life insurance companies. Genpact's A2I solution saves life insurance companies time and money by streamlining these critical processes to work together more efficiently and effectively, which has already been proven with existing clients. Genpact's A2I SEP solution leverages the diagnostic results to build a roadmap to optimize the processes, using a scalable infrastructure, automation of manual steps, database integration, document management, technology standardization, and deep insurance industry expertise. As a result, Genpact can help bring cycle times to best-in-class levels of 15-30 days, increase accuracy of reporting, eliminate costs, and increase placement rates, which translates into millions of dollars of incremental revenue for the insurance operation. "Genpact's diagnostic process and SEP methodology unco...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Genpact Limited has entered into an agreement with PreCash, a rapidly-growing provider of expedited payment systems and other payment services. Through this engagement, Genpact will enable PreCash to respond to its increasing volume of payment processing transactions. Leveraging Genpact's ability to scale and drive end-to-end process excellence encapsulated in its proprietary Smart Enterprise Processes (SEP) framework, PreCash will now be able to accelerate its growth with existing customers and onboard new customers at a much faster rate. Additionally, PreCash will utilize Genpact's extensive data analytics to help broaden the breadth of products and services that it delivers to the market. "Genpact's expertise in payment processing, financial services operations and customer service, along with a scientific approach to process and operational rigour, is already helping PreCash manage and drive growth. Our payment volume is ...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Genpact has announced financial results for the third quarter ended September 30, 2011. Revenues were $429.6 million, up 33.6% from $321.6 million in the third quarter of 2010. Revenues from Global Clients were up 53.6% and business process management revenues from Global Clients were up 22.9%. Net income attributable to Genpact Limited shareholders was $48.0 million, up 19.7% from $40.1 million in the third quarter of 2010; net income margin for the third quarter of 2011 was 11.2%, compared to 12.5% in the third quarter of 2010. Diluted earnings per common share were $0.21, up 18.7% from $0.18 in the third quarter of 2010. Adjusted diluted earnings per share were $0.26, up 25.9% from $0.20 in the third quarter of 2010. N.V. 'Tiger' Tyagarajan, Genpact's president and CEO said, "Genpact delivered another great quarter in Q3, with strong growth in revenues, adjusted operating income, earnings per share and cash flows. Overall...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Genpact Limited has announced the opening of its Dubai, United Arab Emirates (UAE) global delivery center. The 80-seat modern center set up in Dubai as a licensed partner of Dubai Outsource Zone (DOZ) will provide business process services such as claims processing, customer service, collections, treasury operations, finance and accounting, analytics and risk-related services for clients in the Middle East and North Africa. Tiger Tyagarajan, President & CEO, Genpact said, "We are delighted to begin operations in Dubai and hope to grow this center into a 500-person center in the next three years. Not only will the center deliver business impact through our uniquely scientific Smart Enterprise Processes (SEPSM) framework, it will also help our clients make smarter business decisions through our Smart Decision Services comprising analytics and research, reengineering and risk management." Malek Al Malek, Managing Director, Dubai In...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Genpact has acquired High Performance Partners, LLC (HPP) and their Quantum Mortgage Technology. Genpact had previously announced an initial equity investment in HPP in March 2010 and now owns 100 per cent of the company. Genpact will leverage the Quantum software platform to support its Mortgage Business Process as a Service (BPaaS) offering. The Quantum platform helps originators and lenders to automate and streamline major elements of the loan origination process, resulting in a shorter loan lifecycle and a more transparent mortgage asset. Quantum's software platform combines automated decisioning and highly efficient processing with its data-centric approach. Roger Hull, Founder & CEO of HPP, will lead the ongoing development of Quantum for Genpact as Vice President of Genpact Mortgage Services. He has more than 27 years of real estate, finance, information technology and executive leadership experience. In addition to founding HP...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Genpact has announced plans to increase its investment of dollars and man-hours in training and talent development in the U.S. At the core of this effort is training to build talent in the U.S., Genpact is focused on providing its employees with leadership training, professional skills training, and numerous courses and professional certifications to strengthen domain expertise and provide higher-level services to its hundreds of U.S.-based clients. To help lead this initiative, Genpact has appointed Cindy Baudoin in a new role as training and development leader for the Americas. Genpact is working with community colleges and universities such as Purdue University that are located near its delivery centers. Genpact is also partnering with business schools and non-profit institutes at a number of universities across the country to develop experiential learning programs, conduct business research, and help students be better trained for care...