- AWS's generative AI capabilities combine with Genpact's deep
digital, data, and domain expertise
- Integration of Amazon Bedrock into Genpact's riskCanvas™
financial crime risk management suite to drive value across
clients, including Apex Fintech Solutions
NEW
YORK, Sept. 28, 2023 /PRNewswire/ --
Genpact (NYSE: G), a global professional services firm focused
on delivering outcomes that transform businesses, expanded its
relationship with Amazon Web Services, Inc. (AWS) to transform
financial crime risk operations, leveraging generative AI and large
language models (LLMs). Integrating Genpact's proprietary
cloud-based financial crime suite, riskCanvas™, with Amazon
Bedrock, has led to accelerated efficiencies and impact for clients
such as Apex Fintech Solutions.
Amazon Bedrock is a fully managed service that enables
developers to test, integrate, and deploy industry-leading
foundation models (FMs) via an application programming interface
(API) and customize the models to best suit their unique use
cases.
Building on its existing relationship with AWS, Genpact is now
combining its intellectual property and deep industry expertise
with AWS's generative AI capabilities.
For example, seamlessly incorporating Amazon Bedrock FMs into
Genpact's riskCanvas financial crimes software suite aims to unlock
exponential value and improve speed and accuracy in the detection,
investigation, and prevention of financial crime threats for
operations across enterprises. This allows experts to review
outputs and incorporate a guided decision-making process, providing
comprehensive summaries and analyses of potential financial crime
activities – accelerating both efficiency and precision.
Genpact engaged multiple riskCanvas clients to significantly
improve the detection, investigation, and prevention of a wide
range of financial crime threats. As a result, Genpact is now
driving accelerated efficiencies and delivering substantial impact
for these clients in finance and capital markets, exemplified by
their work with Apex Fintech Solutions.
"Financial criminals are constantly innovating, which means
financial services companies need to use advanced digital
technologies to stay one step ahead of them," said Justin Morgan, Head of Financial Crimes
Compliance at Apex Fintech Solutions. "With the addition of
generative AI features to Genpact's riskCanvas, our analysts will
be able to produce Suspicious Activity Report (SAR) narratives and
case summaries at the click of a button using inputs from millions
of data points. We expect this will reduce time spent on case
summarizations by 60%, allowing our analysts to spend more time
identifying truly suspicious financial activity."
Using approved client data from the secure riskCanvas ecosystem,
combined with Amazon Bedrock's secure data handling, enables the
generation of highly accurate outcomes while maintaining data
protection across clients.
"Responsible AI is a core consideration in AI implementation and
its importance will continue to increase," said Atul Deo, General Manager, Amazon Bedrock at
AWS. "Amazon Bedrock is rooted in secure data handling,
encrypting all data and allowing users to customize models
privately. Integrated with Genpact's riskCanvas, this powerful
combination enables our mutual customers to enhance productivity in
investigating, detecting, and preventing financial crime
threats."
The initiative enables clients to fully leverage the potential
of generative AI solutions and drive secure, scalable, AI-led
transformation.
"Data complexity and volume, false positives, and evolving
sophisticated criminal tactics are accelerating the need for
businesses to harness generative AI to transform financial crime
operations," said BK Kalra, Global Business Leader, Financial
Services, Consumer and Healthcare, Genpact. "Genpact's expanded
relationship with AWS represents a pivotal step in redefining the
operations landscape for enterprises. Together we can unlock
untapped value, and fuel significant growth opportunities for our
clients, solidifying our commitment to delivering valuable business
impact."
For more information on Genpact's relationship with AWS, visit:
AWS | Our Partners | Genpact, and for more information on our
financial services visit: AWS Financial Services | Our Partners |
Genpact.
About Genpact
Genpact (NYSE: G) is a global professional services firm
delivering the outcomes that transform our clients' businesses and
shape their future. We're guided by our real-world experience
redesigning and running thousands of processes for hundreds of
global companies. Our clients – including many in the Global
Fortune 500 – partner with us for our unique ability to combine
deep industry and functional expertise, leading talent, and proven
methodologies to drive collaborative innovation that turns insights
into action and delivers outcomes at scale. We create lasting
competitive advantages for our clients and their customers, running
digitally enabled operations and applying our Data-Tech-AI services
to design, build, and transform their businesses. And we do it all
with purpose. From New York to
New Delhi and more than 30
countries in between, our 115,000+ team is passionate in its
relentless pursuit of a world that works better for people. Get to
know us at Genpact.com and
on LinkedIn, Twitter, YouTube,
and Facebook.
MEDIA CONTACT:
Siya Belliappa
Genpact Media
Relations
718-561-9843
siya.belliappa@genpact.com
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SOURCE Genpact