US-based digital transformation company Genpact has expanded its collaboration with Amazon Web Services (AWS) to augment financial crime risk operations with AI and LLM. Integrating Genpact's proprietary cloud-based financial crime suite, riskCanvas, with Amazon Bedrock, has led to accelerated efficiencies and impact for clients such as Apex Fintech Solutions.

Amazon Bedrock is a fully managed service that enables developers to test, integrate, and deploy foundation models (FMs) via an application programming interface (API) and customise the models to best suit their unique use cases. Enhances financial crime detection with AWS's generative AI capabilities Building on its existing relationship with AWS, Genpact is now combining its intellectual property and deep industry expertise with AWS's generative AI capabilities. For example, seamlessly incorporating Amazon Bedrock FMs into Genpact's riskCanvas financial crimes software suite aims to unlock exponential value and improve speed and accuracy in the detection, investigation, and prevention of financial crime threats for operations across enterprises.

This allows experts to review outputs and incorporate a guided decision-making process, providing comprehensive summaries and analyses of potential financial crime activities – accelerating both efficiency and precision. Genpact engaged multiple riskCanvas clients to significantly improve the detection, investigation, and prevention of a wide range of financial crime threats. As a result, Genpact is now driving accelerated efficiencies and delivering substantial impact for these clients in finance and capital markets, exemplified by their work with Apex Fintech Solutions.

Speaking on the evolution of financial crime, officials from Apex Fintech Solutions said bad actors are constantly innovating, which means financial services companies need to use advanced digital technologies to stay one step ahead of them. With the addition of generative AI features to Genpact's riskCanvas, their analysts will be able to produce Suspicious Activity Report (SAR) narratives and case summaries at the click of a button using inputs from millions of data points. They expect this will reduce time spent on case summarizations by 60%, allowing their analysts to spend more time identifying truly suspicious financial activity.

Transforming operations with secure generative AI Using approved client data from the secure riskCanvas ecosystem, combined with Amazon Bedrock's secure data handling, enables the generation of highly accurate outcomes while maintaining data protection across clients. Representatives from AWS said that 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. The initiative enables clients to fully leverage the potential of generative AI solutions and drive secure, scalable, AI-led transformation. Growing data complexities, false positives, and evolving criminal tactics have accelerated the demand for generative AI in transforming financial crime operations said Genpact’s team.

The expanded partnership with AWS marks a significant step in reshaping enterprise operations, unlocking value, and fostering client growth opportunities. .