Global professional services firm Genpact has extended its relationship with Amazon Web Services (AWS) to transform financial crime risk operations by tapping generative artificial intelligence (AI) and large language models (LLMs).
To achieve this, Genpact is integrating its cloud-based financial crime risk management suite, riskCanvas, with Amazon Bedrock. This will allow Genpact to attain accelerated efficiencies and impact for clients including Apex Fintech Solutions, said the professional services firm.
Amazon Bedrock is a fully managed service that lets developers to test, integrate and deploy foundation models (FMs) through an application programming interface (API).
It also helps developers to personalise the models to better address their special use cases.
AWS Amazon Bedrock general manager Atul Deo said: “Responsible AI is a core consideration in AI implementation and its importance will continue to increase. Amazon Bedrock is rooted in secure data handling, encrypting all data and allowing users to customise models privately.
“Integrated with Genpact’s riskCanvas, this powerful combination enables our mutual customers to enhance productivity in investigating, detecting, and preventing financial crime threats.”
Through the extended collaboration with AWS, Genpact aims to combine its intellectual property and deep industry expertise with the former’s generative AI capabilities.
Genpact said that the frictionless integration of Amazon Bedrock FMs into riskCanvas will open up exponential value and enhance speed and accuracy in the detection, investigation, and prevention of financial crime threats for operations across enterprises.
Besides, the use of approved client data from the riskCanvas ecosystem combined with Amazon Bedrock’s secure data handling will generate highly accurate outcomes along with maintaining data protection across clients, said the firm.
Furthermore, the extended relationship between the companies will allow clients to fully utilise the potential of generative AI solutions and power secure, scalable, AI-led transformation.
Genpact financial services, consumer and healthcare global business leader BK Kalra said: “Genpact’s expanded relationship with AWS represents a pivotal step in redefining the operations landscape for enterprises.
“Together we can unlock untapped value, and fuel significant growth opportunities for our clients, solidifying our commitment to delivering valuable business impact.”
