NEW YORK and TORONTO, March 7, 2017 /PRNewswire/ -- Genpact (NYSE: G), a global professional services firm focused on delivering effective digital transformation, and OutsideIQ, a leader in investigative cognitive computing, are teaming together to help banks and financial services companies transform mission critical due diligence operations to gain competitive advantage and increase agility to respond to market issues through faster, more effective risk management.
The relationship combines Genpact's deep domain knowledge in risk management, process expertise in know your customer (KYC) and anti-money laundering (AML) compliance, and experience working with various financial institutions, with OutsideIQ's automated, artificial intelligence (AI) due diligence solution, DDIQ, which provides access to fast, automatic risk reports to help companies keep pace with new regulations and compliance reporting requirements. By extracting greater value from their data with AI tools, financial institutions can more effectively and quickly analyze risk vulnerabilities that are not easily identified in traditional manual research processes.
DDIQ is programmed to think like an investigator, interrogate the web to extract real-time information about a subject, and automatically flag risks in an auditable report. Genpact manages one of the world's largest learning data sets for business operations processing and runs risk management and compliance operations for numerous global financial institutions, which drives valuable insights that power cognitive computing technology to predictably deliver accurate results. Genpact and OutsideIQ's combined expertise allows their clients to respond faster to risk issues and more easily adapt to increasingly changing regulations.
"Our alliance with OutsideIQ helps our clients increase their competitive advantage by driving more intelligent risk management with greater agility to identify and analyze vulnerabilities," said Manish Chopra, senior vice president, Global Risk and Regulatory Services, Genpact. "Companies can adapt and respond quickly, and in turn, onboard their customers faster, and achieve better compliance and efficiencies, all while avoiding the complexity, cost, and inaccuracy associated with manual systems."
"Manual due diligence processes are no longer good enough given the growing number of data sources available today," said Dan Adamson, founder and chief executive officer, OutsideIQ. "We are excited to work with Genpact and benefit from its industry knowledge and expertise in process improvement to help our clients find a better, more consistent, and auditable way to manage risk and compliance monitoring."
This alliance leverages Genpact's unique Lean DigitalSM approach which combines process-centric technologies, design thinking, Lean principles, and deep domain expertise to reimagine end-to-end operations to achieve measurable impact in driving revenue and profit growth, business agility, and superior customer experiences.
About OutsideIQ OutsideIQ is the leader in due diligence cognitive computing and search. OutsideIQ brings together some of the world's foremost experts on search with the best data scientists, big data professionals and software engineers to solve the complex problems of search for due diligence. Leveraging a proprietary approach to research via automated data-sifting with the data-interpretation skills of a human researcher, OutsideIQ is changing the way that businesses vet their customers and handle their complex compliance requirements. For more information on OutsideIQ, please visit www.outsideiq.com.
About Genpact Genpact (NYSE: G) stands for "generating business impact." We are a global leader in digitally-powered business process management and services. We architect the Lean DigitalSM enterprise through our patented Smart Enterprise Processes (SEPSM) framework that reimagines our clients' operating models end-to-end, including the middle and back offices. This creates Intelligent OperationsSM that we help design, transform, and run. The impact on our clients is a high return on transformation investments through growth, efficiency, and business agility. For two decades, first as a General Electric division and later as an independent company, we have been passionately serving our clients. Today, we generate impact for a few hundred strategic clients, including approximately one-fifth of the Fortune Global 500, and have grown to over 75,000 people in 25 countries, with key offices in New York City. The resulting business process and industry domain expertise and experience running complex operations are a unique heritage and focus that help us drive the best choices across technology, analytics, and organizational design. For additional information, visit www.genpact.com. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.