White Papers
May 11, 2020As consumers increasingly desire faster banking, more convenient access to their accounts and quicker decisions on their loan requests, financial institutions are hamstrung by a rising wave of new financial regulations. The burden includes new and existing regulatory requirements including the CECL accounting standard, KYC/AML, customer disclosures and fair lending laws, while risks of default,...
May 7, 2020COVID-19 has disrupted banking for good. The depth of change, and the speed at which it has occurred, has ratcheted up risk levels. The result? An environment ripe for financial crime – especially fraud, cybercrime, and money laundering. Banks can combat financial crime by using advanced digital technologies, revisiting their business continuity planning, adjusting their risk models, and...
April 24, 2020In a matter of weeks, banks approved millions of loan applications from the Paycheck Protection Program. Now, they must prepare to forgive some portion of those loan amounts. In this video, Genpact's global leader of commercial banking , Dan Davidson, and Enrico Dallavecchia, head of our risk practice, discuss the challenges and opportunities ahead and what banks must do to maximize forgiveness,...
Community Reinvestment, Digital Innovation & Mobile Banking, Marketing, Communications & Consumer ExperienceApril 9, 2020EVERFI’s National Financial Bee is a nationwide financial literacy initiative for 7th-10th grade students that will run from April 20-24. Sponsored by financial institutions for the students in their communities, the Bee is made up of a 5-part course and an essay contest, where students compete to win up to $10,000 in scholarship prizes. This initiative enables financial institutions to connect...
April 7, 2020The CARES Act expects banks to distribute $350 billion in loans to small businesses in just three months – that’s $4 billion per day. To deliver, banks will need to rapidly update and scale their operations, including people, process, and technology. In this video,Genpact’s global leader of commercial banking, Dan Davidson, discusses the challenges and opportunities CARES act poses for the banks...
April 6, 2020Due to COVID-19, banks are under increased pressure to provide financial assistance to consumer and commercial clients. But with the impact of this disruption still unknown, how can chief risk officers (CRO’s) help their banks adapt in the short term and come out stronger in the future? Gina Hertel, head of editorial for banking and capital markets, Genpact, interviewed Manish Chopra, global risk...
March 31, 2020As the coronavirus rages on, it’s critical for businesses to adapt to changing customer habits. A recent survey found that 73% of U.S. consumers are doing more remote work or remote errands due to the crisis. Especially as business tapers off, customer-facing remote solutions enable companies to continue to service their customers while keeping the economy running and communities safe. Download...
March 31, 2020Recovery and Resilience in Default Management - How banks can weather the storm and prepare for the future As the year began, some economists were bullish on the economy. Yes, there were signs that a recession could be coming: the US-China trade war, Brexit uncertainty, soft spending in Australia due to drought and bushfires, an inverted yield curve in the US bond market last summer. But no one...
March 19, 2020We all know that consumer banking behavior is changing, but what do people really want from their checking account? The Novantas 2020 U.S. Bank Shopper Survey, an in-depth research report about consumer checking-account behavior and preferences, answers some of those important questions. This year’s survey includes research on neobanks for the first time and for good reason: consumers are...
March 12, 2020Improper handling of customer feedback, both positive and negative, rates at the top of the list when it comes to poor customer management. These experiences shape the relationships you have with your customers and can have a huge impact on your long-term financial projections if not taken seriously. In fact, over $60 billion is lost each year because of poor service. Evidently, things will go...
