Genpact leverages platform to streamline online business lending for fintech firms and banks

Genpact, a leader in digitally-powered business process management and services, announced an innovative platform that drives rapid, broad-scale transformation, and changes the business model for online commercial lending, for banks and fintech firms. The platform creates more agile systems that improve operations and positions companies for growth.

According to the official release, the online lending industry brings both opportunities and challenges for fintech companies as well as traditional banks. The company’s cloud-based solution incorporates cutting-edge technology in loan originations that are presently being used by several banks. The solution helps in providing quick, easy implementation and scalability without data center investment and offers fintech firms, a robust technology system.

“Traditional banks need to overcome the burden of legacy systems to compete faster, using disruptive technology that fintechs already deploy. Fintechs need to ‘institutionalize’ their front, middle, and back office. Genpact answers both needs, with a scalable, easy-to-deploy digital solution that helps better manage assets and improve customer experiences,” Diwakar Singhal, senior vice president, Commercial Lending, Genpact said.

Genpact has partnered with fintech startup InterNex Capital in order to offer a superior customer experience that delivers in-depth account analyses, real-time updates, and visibility into all activities. The collaboration combines InterNex’s sophisticated customer portals and its proprietary scoring with Genpact’s digital technology.

Genpact is leveraging its unique Lean DigitalSM approach that harnesses the combined power of process-centric technologies, design thinking methodologies, and domain expertise, by developing the new platform with InterNex.

“InterNex’s financial services domain expertise in origination, risk management, technology, and capital markets, coupled with Genpact’s digital technology and excellence in process and operations, delivers a superior business model to best service our clients and drive operational scale capabilities,” Paul DeDomenico, co-founder and chief executive officer of InterNex Capital, said. “We are excited to work with Genpact as we build, grow, and scale InterNex. This strategic partnership complements our capital markets capabilities and recent funding facility.”