Page 53 - Banking Finance June 2023

INTERVIEW

“The impact of AI is apparent,

which is why banks are

starting to develop and

deploy AI technologies. But to
truly realize the impact of AI,

the innovation needs to be
rapid, and investments need

to be broader, at the

enterprise level.”

B K Kalra
Global Business Leader,
Financial Services, Genpact

How can Genpact's advanced AI banking data, aiding in assessing risks and understanding the impact
on investment portfolios. Our generative AI solutions also
solutions be used as a helpful guidebook for
facilitate credit risk models for assessing borrower
banks globally?
creditworthiness and making informed lending decisions.
The impact of AI is apparent, which is why banks are starting
Genpact's conversational AI solutions allow banks to drive
to develop and deploy AI technologies. But to truly realize
stronger customer engagement and personalization such as
the impact of AI, the innovation needs to be rapid, and
by guiding customers through the loan application process
investments need to be broader, at the enterprise level.
by collating relevant information, answering queries, and
Banks need to embed AI into the core strategy as well as
assisting with furnishing required documentation.
operations to gain a competitive edge.
Genpact's AI use cases are in front, middle and back office.
At Genpact, over the years we have developed and refined
our AI capabilities, enabling us to create innovative,
Why must banks invest in intelligent data capture
industry-specific solutions for our clients.
to manage risk and prevent future collapses like
For instance, today, we are helping clients by applying AI to
SVB?
improve the existing "Run the Bank" processes or change
In today's dynamic environment, managing risks has become
quickly to adhere to new regulations or to maintain
one of the biggest concerns and priorities for financial
competitiveness and drive growth. For example, Genpact's
institutions, especially after the recent banking crises. It is
Portfolio and Default Management as a Service helps predict
important for banks to develop dynamic risk infrastructures
and action credit concerns faster, reduce charge-offs, and
that can nimbly respond to both traditional, new, and even
improve recoveries by dynamically monitoring clients with
unanticipated risks. This means that firms need to manage
internal bank data and external unstructured data using AI.
their data holistically and transform outdated financial risk
Early Warning Signals (EWS), based on generative AI, which
monitoring and management practices to reduce exposure
is a part of the Portfolio and Default Management service
simulate market scenarios and generate synthetic financial and improve controls.
BANKING FINANCE | JUNE | 2023 | 47