Genpact takes over Citibank OpenWealth in the UK 24 August 2015Glasgow Reporter: Stephanie Palmer
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Genpact has completed its acquisition of Citibank’s UK OpenWealth platform, expanding its own OpenWealth capabilities in to the UK financial services market.
Genpact’s platform provides wealth management solutions fort insurers, banks, brokers and asset managers, and is designed to deliver end-to-end technology and administration services including account opening, transfers and regulatory reporting.
It is a flexible solution suited to all asset types and with a customisable support system.
Genpact acquired Citibank’s US OpenWealth business earlier in the year, and will now open a centre in Glasgow to serve UK clients.
Mohit Thukral, senior vice president and business leader for banking, financial services and insurance at Genpact, said: "We can now provide end-to-end wealth management servicing operations to two of the largest geographic markets, combining domain expertise, scalable technology, advanced analytics, and global services delivery that will further drive innovation, efficiency, and controllership."
Boaz Lahovitsky, senior vice president for wealth management at Genpact, added: "We are excited to fully integrate the respective strengths of Genpact and our wealth management services centre in Glasgow to allow wealth managers and financial advisors in the UK to focus on their core competencies of enhancing customer service and raising assets."
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