Markit and Genpact Launch KYC Services

                    Markit and Genpact Launch KYC Services

Citi, Deutsche Bank, HSBC and Morgan Stanley work with Markit ? Genpact to
design new service to centralize client onboarding and KYC data management

PR Newswire

NEW YORK and LONDON, May 22, 2014

NEW YORK and LONDON, May 22, 2014 /PRNewswire/ --Genpact Limited (NYSE: G), a
global leader in transforming and running business processes, operations and
technology, and Markit, a leading global diversified provider of financial
information services, today announced the launch of Markit І Genpact KYC
Services. Designed in partnership with four leading global financial
institutions, the service standardizes and centralizes the collection and
management of KYC data for financial institutions in order to streamline
client onboarding.

Genpact Limited Logo.

End-to-end solution for KYC data management
The service will collect, enrich and centrally administer legal entity data
and documents that banks require from their clients in order to conduct
business and comply with KYC and anti-money laundering regulations, including
Dodd-Frank, Emir, Fatca and Mifid. The service will actively monitor client
information and perform proactive data revalidation on regular schedules.

By standardizing and centralizing the collection, validation and management of
KYC information, the service is designed to help banking institutions benefit
from high quality client data and an optimized compliance process that reduces
operational risk and lowers costs.

Centralizing KYC delivers synergies for all industry participants
For the community of banks' clients and counterparties, Markit І Genpact KYC
Services reduces the burden of duplicate data requests and provides increased
transparency and efficiency in the onboarding process.

An online portal, KYC.com, is now open for institutions, including asset
managers, corporations and hedge funds, to register for the service. There is
no fee to use the portal to submit and share KYC information with banks
participating in the service.

Creation of a common global data standard
Citi, Deutsche Bank, HSBC and Morgan Stanley participated in the design phase
of the service, announced in September 2013, and were instrumental in creating
the common standard and global framework for KYC data and document management
provided by the service. Markit І Genpact KYC Services is advised by third
party experts on global regulatory standards, cost benchmarking and
information security.

The service launches with coverage for banks booking trades in the US and UK
and is expected to expand to multiple jurisdictions worldwide in the near
future.

"The combined capital markets technology, data analytics and domain expertise
from Genpact and Markit, along with the insights provided by our banking
partners, has led to a service that marks an inflection in the way business
process services are delivered and changes how the industry manages a core
function," said Monty Singh, senior vice president and business leader,
Capital Markets and IT Services, Genpact. "This collaboration demonstrates
how the banking industry is implementing new operational strategies in
response to regulatory challenges."

"Invaluable insight and cooperation from our design partners helped us to
leverage long-standing solutions from Markit and Genpact to create a new
service that addresses an industry-wide challenge," said Michele Trogni,
managing director and global head of managed services at Markit. "Our KYC
offering shows how we can use our expertise in innovative ways to help
customers who are increasingly turning to centralized solutions in order to
transform their operations."

New service leverages operational expertise and technology from Markit and
Genpact
Markit І Genpact KYC Services operates as a joint venture and will serve
customers from centers in London, New York, Dallas, Bucharest, Krakow,
Bangalore and Noida. It builds on expertise and technologies offered by
Markit and Genpact, including Genpact's Remediation as a Service platform,
which offers transparent workflow, document management, analytics, reporting,
traceability and governance, and Markit's Counterparty Manager service.
Counterparty Manager is used by 900 financial institutions and approximately
5,000 corporate customers to automate how they share regulatory information
and KYC documents with over 80 banks worldwide. Counterparty Manager will
continue to offer a single workflow system to share information efficiently
with banks.

About Markit
Markit is a leading global diversified provider of financial information
services. We provide products that enhance transparency, reduce risk and
improve operational efficiency. Our customers include banks, hedge funds,
asset managers, central banks, regulators, auditors, fund administrators and
insurance companies. Founded in 2003, we employ over 3,000 people in 10
countries. For more information, please see www.markit.com.

About Genpact
Genpact Limited (NYSE: G) is a global leader in transforming and running
business processes and operations, including those that are complex and
industry-specific. Our mission is to help clients become more competitive by
making their enterprises more intelligent, meaning more adaptive, innovative,
globally effective and connected to their own clients. Genpact stands for
Generating Impact – visible in tighter cost management as well as better
management of risk, regulations and growth for hundreds of long-term clients
including more than 100 of the Fortune Global 500. Our approach is distinctive
– we offer an unbiased, agile combination of smarter processes, crystallized
in our Smart Enterprise Processes (SEP^SM) proprietary framework, along with
analytics and technology, which limits upfront investments and enhances future
adaptability. We have global critical mass – 64,000+ employees in 24
countries with key management and corporate offices in New York City – while
remaining flexible and collaborative, and a management team that drives client
partnerships personally.Our history is unique – behind our single-minded
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 15 years. For more information, visit www.genpact.com. Follow
Genpact on Twitter, Facebook and LinkedIn.

For more information:

Gail Marold (Genpact Media Relations) Alex Paidas (Markit Media Relations)
gail.marold@genpact.com               alex.paidas@markit.com
+1 919-345-3899                       +1 212-205-7101
Matt Kirdahy(For Genpact U.S.)        Joanna Timmermann (For Genpact Europe)
matthew.kirdahy@ogilvy.com            genpactuk@uk.ogilvypr.com
+1 212-880-5358                      +44 (0) 207 30 1060

Logo - http://photos.prnewswire.com/prnh/20120501/NY98560LOGO

SOURCE Genpact Limited

Website: http://www.genpact.com
 
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