Nov 19, 2015, 09:00 ET
Genpact and RAGE Frameworks Partner to Combine Lean Digital Strategy and Artificial Intelligence to Automate Financial Institutions’ Complex Processes
NEW YORK, Nov. 19, 2015 /PRNewswire/ — Genpact (NYSE: G), the architect of the Lean DigitalSM enterprise, and RAGE Frameworks, a leader in cognitive intelligence and business process automation technology, are partnering to harness artificial intelligence technologies that push the boundaries of existing automation systems in financial institutions.
Genpact’s Lean DigitalSM approach combines design thinking methodology with an operator’s view of lean processing and advanced technologies to re-architect business processing into the digital future. The RAGE Enterprise™ platform uses artificial intelligence and business process automation technologies in a model-driven application development framework to eliminate traditional and cumbersome manual work such as data standardization and semantic analytics, and expensive system replacements and satellite system enhancements.
Genpact and RAGE’s joint solutions drive intelligent, dynamic, and automated use of data sources both in and outside of financial institutions’ firewalls to improve risk decisions and drive greater efficiencies. The solutions also facilitate the orchestration of intelligent processes across the enterprise, making operations more adaptive, accurate, and timely, in a seamless manner. For example, Genpact clients can now easily extract and interpret from reported global events in real time to monitor credit risk, and then provide valuable internal early warning triggers, and drive needed interventions dynamically.
More broadly, these solutions drive greater value by integrating artificial intelligence and automation in commercial lending, policy underwriting, client onboarding, multi-system reconciliation, financial statement spreading, vendor screening, and investment research.
“Digital technologies like the ones we are working on with RAGE allow us to drive complete transformation of the work we do for our clients, and re-architect traditionally manual business processing to be more automated, intelligent, and adaptive,” said Sanjay Srivastava, senior vice president and chief digital officer, Genpact. “Lean Digital helps us bridge the gap between the potential of digital and the reality of most middle and back offices still burdened with complex or exception processing work that has had to be done manually.”
These solutions are part of Genpact’s Systems of Engagement™ portfolio, which embeds leading digital technologies within a cloud-based offering that is added on top of clients’ existing systems to streamline and transform operations in an agile and flexible manner. As a result, clients can be more effective in responding to new market opportunities, complying with evolving regulatory requirements, and competing effectively with new disruptors in their ecosystems.
RAGE also joins Genpact’s incubation program, a unique Silicon Valley-based partner ecosystem that combines the power of new disruptive technologies with Genpact’s deep industry domain and hands-on process expertise, all within one of the largest real-world business processing environments.
“We are excited to partner with Genpact, and combine its financial services domain and process management expertise with our deep experience with cutting-edge automation and artificial intelligence technology,” said Dr. Venkat Srinivasan, chief executive officer, RAGE Frameworks. “We look forward to actively participating in Genpact’s incubation program to continue to innovate and deliver new solutions for our clients.”
For more information, see www.genpact.com/leandigital.
About RAGE Frameworks: It’s Possible
RAGE Frameworks Inc. is a leader in Cognitive Intelligence and Business Process Automation technology providing enterprise solutions in wealth management and business banking, breakthrough information products and custom solutions to power business transformation. Headquartered in Dedham, Massachusetts with global operations centers in Pune and Belgaum, India, RAGE offers unprecedented speed, flexibility and insight in solving today’s most complex, critical business problems. For more information, visit www.Rageframeworks.com.
Genpact (NYSE: G) stands for “generating business impact.” We architect the Lean DigitalSM enterprise through a unique approach based on our patented Smart Enterprise Processes (SEPSM) framework that reimagines our clients’ middle and back offices to generate growth, cost efficiency, and business agility. Our hundreds of long-term clients include more than one-fourth of the Fortune Global 500. We have grown to over 70,000 people in 25 countries, with key management and a corporate office in New York City. We believe we are able to generate impact quickly and power Intelligent OperationsSM for our clients because of our business domain expertise and experience running complex operations, driving our unbiased focus on what works and making technology-enabled transformation sustainable. Behind our passion for technology, process, and operational excellence is the heritage of a former General Electric division that has served GE businesses since 1998. For additional information, visit www.genpact.com. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.