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NEW YORK, April 8, 2015 /PRNewswire/ -- Genpact (NYSE: G), a global leader in designing, transforming, and running intelligent business operations, today announced the launch of Genpact OpenWealth®, an end-to-end wealth management service for banks, brokers, insurers and asset managers.

Genpact acquired the OpenWealth platform in the United States from Citibank, N.A. earlier this year. Genpact OpenWealth provides an end-to-end managed account platform that supports portfolio management and customization, investor suitability, householding, rebalancing, tax optimization, trading, performance, reporting, and compliance management – with integrated administration services.

Genpact OpenWealth is currently operational in North America. The U.K.-based business is expected to become operational later this year following the closing of the acquisition by Genpact of the U.K. business from Citibank, which will establish the company's presence in wrap and direct to consumer (D2C) administration in the European market. The platform includes state-of-the-art technology and operations administration services in the wealth management market, adding specialized domain expertise to Genpact's Banking, Financial Services and Insurance business.

The managed account market continues to experience strong growth fueled by regulatory changes, the demand for transparency, and the alignment of interest between investors and advisors. In addition, aging technologies have put pressures on sponsors' profitability. Genpact OpenWealth allows financial organizations to capitalize on these trends by providing a flexible business process as a service (BPaaS) platform, which leverages innovative cloud-based technology to drive advanced operations while keeping costs down through scalable solutions. The service also provides enhanced risk management and automated compliance oversight through pre- and post-trade compliance capabilities. Genpact OpenWealth helps wealth management firms that offer fee-based managed accounts to grow their business at a fast pace. The service allows wealth managers and financial advisors to focus on their core competencies, including raising and managing investor assets, and frees them up to invest more time in improving customer service instead of overseeing administrative processing.

"The addition of OpenWealth significantly expands Genpact's capabilities for the financial services industry, especially wealth management administration, which is a very dynamic space and a strategic investment and growth area for us globally," said Mohit Thukral, senior vice president and business leader, Banking, Financial Services and Insurance at Genpact. "We apply our scale, process excellence, analytical insights, and technology to these industrialized operations, with the ambition and opportunity of making them truly intelligent – able to sense, react, and learn from their actions over time." 

"OpenWealth and Genpact are a perfect match, combining OpenWealth's market-leading solutions and strong growth momentum in the wealth management servicing space with Genpact's heritage of operations excellence, client service culture, and brand recognition as the administrator of choice for leading financial institutions worldwide," said Boaz Lahovitsky, senior vice president, Wealth Management, Genpact.

More information about Genpact's global banking and financial services business, including its investment and wealth management services offerings, is available at http://www.genpact.com/home/industries/banking-financial-services.

About Genpact
Genpact (NYSE: G) stands for "generating business impact." We design, transform, and run intelligent business operations including those that are complex and specific to a set of chosen industries. The result is advanced operating models that make our clients more competitive as they help them grow and manage cost, risk, and compliance across a range of functions such as finance and procurement, financial services account servicing, claims management, regulatory affairs, and industrial asset optimization. Our Smart Enterprise Processes (SEP^SM) proprietary framework helps companies reimagine how they operate by integrating effective Systems of Engagement™, core IT, and Data-to-Action Analytics^SM. Our hundreds of long-term clients include more than one-fourth of the Fortune Global 500. We have grown to over 67,000 people in 25 countries, with key management and a corporate office in New York City. Our global critical mass doesn't dilute our flexible and collaborative approach, and our management team still drives client partnerships personally. We generate impact quickly because of our business domain expertise and experience running complex operations, driving our focus on what works and making transformation sustainable. Clients attribute much of our success to our unique history: behind our passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 16 years. For additional information, visit www.genpact.com. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.

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SOURCE Genpact