White Papers
Digital Innovation & Mobile Banking, Deposits & Payments, Marketing, Communications & Consumer ExperienceJune 16, 2020The pandemic-driven economic crisis has precipitated a flurry of loan activity. As customers rush to take out new loans or modify existing ones from the safety of their homes, banks’ digital capabilities have been put to the test. A survey of 1,006 Americans revealed that banks mostly succeeded in providing customers the digital loan experience they sought during the pandemic. Yet glaring flaws,...
June 2, 2020As America slowly starts to reopen, auto lenders are thinking about how they can transition back to normal. But executives should really be asking themselves whether that’s something consumers want — and if not, what would they prefer? A survey of 1,028 Americans conducted in mid-May underscores the impact COVID-19 is having on the auto finance industry. In this report, you’ll discover: Up-to-...
Digital Innovation & Mobile Banking, Deposits & Payments, Marketing, Communications & Consumer ExperienceMay 21, 2020Do customers even want to go back to a reality where “business as usual” means long lines, bounded banking hours, and physical paperwork? The answer, as this report will show, is a resounding “no.” A survey of 1,028 Americans conducted in mid-May underscores the impact COVID-19 is having on consumer banking. In this report you’ll discover: Up-to-date consumer sentiment and Corona's impact New...
May 20, 2020Even before COVID-19, auto finance companies were on the on-ramp to change. An increased focus on the customer, new modes of engagement, and preparation for a slowdown were driving digital transformation in their operations and offerings. COVID-19 will not throw this transition into reverse but will instead accelerate it. Now, auto finance companies must harness the digital and analytical...
May 19, 2020Branch colleagues are one of the retail bank’s front lines. They frequently rely on rigid and outdated systems and processes that add complexity and frustration. Managers and associates alike lose too much time on non-customer-facing activities. These current challenges have only been magnified by the current crisis and demand an immediate response for branches to thrive. But, this is also an...
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...
