Case Study

Lending a hand to a major lender

By unifying processes across 24 nations in 90 days

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Who we worked with

A growing financial services firm with operations in 24 countries.

What the company needed

To build global corporate card operations around the world to foster growth and mitigate risk.

How we helped

Launched a real-time credit risk monitoring service in all of its markets with a pioneering early-warning system.

What the company got

Automated underwriting for 17 products in 24 countries and ten languages. The result: central control with local flexibility to view real-time, end-to-end processes.

Global expansion had obvious benefits for this growing financial services firm. But it also faced legal, linguistic, and procedural complications in the 24 countries where it did business. For example, underwriting solutions—many of which were spreadsheet-based—weren’t consistent across all markets.

The challenge

Turn global process chaos into a well-oiled, unified machine

This enterprise needed global corporate card operations—and fast—to keep pace with its rapid growth. But several hurdles made it hard to integrate its operations. Among them:

  • A non-scalable, hardwired, fragmented, and inflexible IT ecosystem made up of home-grown applications that didn’t connect well with new technology tools.
  •  No standards, general inconsistencies, and no end-to-end process visibility, which made it hard to comply with regulations.
  •  It was expensive and time consuming to make regulatory changes. 
  •  The customer experience suffered due to outdated operations. 
  •  Inefficient processes and systems were driving up the cost of getting and keeping customers.

The firm’s re-underwriting initiative was behind schedule and way over budget—and piecemeal approaches only added to the problem. It needed a solution that would be effective and consistent in every country.

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Our solution

Customize and integrate

The company chose Genpact Credit Assistant to create a unified, global underwriting program—a solution rich enough and flexible enough to handle 24 key markets.

Each Genpact Credit Assistant module is fully configurable. Countries used the modules most relevant to them as building blocks, then further adapted them to their market’s specific needs.

Genpact’s product helped the company prospect, underwrite, and monitor corporate card client activity. With artificial intelligence (AI) handling much of the manual and data-driven judgment tasks, the enterprise could now focus on assessing risk. That slashed costs and significantly sped up the underwriting cycle time. The automation engine also gave the firm rapid control and perpetual flexibility with the following applications:

  • Used filters up front to identity cases for fast tracking, rejection, or special handling
  • Used rules and models to gather applicant and reference data from multiple sources
  • Extracted and normalized applicants’ financial data regardless of format
  • Generated company models with forward-looking ratings and ended reliance on rating agencies and credit bureaus
  • Created a composite credit score by applying scoring rules to all the data gathered upstream
  • Helped determine the outcome of the application

Now the company can take geographic and policy specifics into account to tailor its services to users. What’s more, it can make upgrades without additional programming.

Five months after kick-off, each country was applying Genpact Credit Assistant to meet program goals with over 1,200 active users on the system. Genpact Credit Assistant also integrated 17 international bureaus. The financial services firm was so impressed, it nominated Genpact’s breakthrough innovation for its annual chairman’s award.

The impact

Consistency, compliance—and a smooth credit card process roll-out

The company not only transformed its global corporate card processes, it also enjoyed other benefits:

  • Consistent portfolio assessment in all countries
  • Standardized global and local compliance
  • Simultaneous and selective roll-out of credit card process decisions in all markets

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