Genpact a global leader in digitally-powered business process management and services, today announced an agreement with Calcutta University for a consultancy and research partnership in banking and financial services analytics. Under this industry-academia collaboration, faculty members of Calcutta University will be empanelled as consultants with Genpact, working on the incubation of new ideas and building knowledge frameworks.
With rapid digitization and the advent of big and unconventional data structures, analytics is playing a more critical role in enabling smarter decision making. In an increasingly stringent regulatory environment, the need to mitigate risk while focusing on improving operational efficiency is driving adoption of analytics across industries. In particular, the banking and financial services industry is grappling with the need for innovative analytics solutions in the constantly evolving risk and compliance processes.
“The partnership is designed to foster innovation in the areas of risk management and financial automation, allowing both Genpact and Calcutta University to co-develop new ideas that will facilitate smarter and quicker decision making in the area of banking and financial services analytics,” said Manish Chopra, senior vice president and business leader, Risk Services, Genpact. “Genpact has been actively engaged with academia in developing financial services-oriented knowledge and skills in analytics. This partnership will significantly strengthen the applied learning of analytics and foster innovation in an ecosystem of data-enabled decision-making.”
Experts from Genpact will partner with university faculty for the publication of joint research papers in analytics. Combining industry expertise with academic research, the collaboration will create innovative solutions that will be deployed in client engagements. It will also provide university students with hands-on experience in real-time industry issues while they assist faculty members in the research. Genpact and Calcutta University are already currently engaged in a partnership for an “On-Campus Analytics” program for a Masters in Economics and Statistics, which helps students develop skills and knowledge with a focus on the banking and financial services sector.
“This new partnership will give our faculty members more opportunities to work in tandem with the industry, and it will facilitate a sustainable mechanism for fostering industry-academia linkages, capacity building, and innovation,” said Professor Ashutosh Ghosh, vice chancellor, Calcutta University.
“This unique collaboration of academia and industry for research will provide avenues for innovation in the world of financial analytics,” said Professor Sugata Marjit, former vice chancellor, Calcutta University.