Exclusive: Genpact wins TD contract
By Joseph

Genpact was India’s first BPO and still continues its market leadership position in India.  Genpact has 41,000 employees and earned revenue of $1.1 Billion in 2009. Genpact started life as a Business Unit of GE, but by January 2005 it became an independent company.  Two years later, it was listed on the NYSE. In 2009,  NASSCOM ranked Genpact as the No. 1 BPO company in India.

Genpact has more than 400 plus clients including AstraZeneca, BUPA, Ceridian, Diebold, eBay, GE, Halifax Bank of Scotland, Hertz, Hyatt, Ashland, Kimberly Clark, Miami Children’s Hospital, National Australia Bank, Nissan, Serco, Walgreens, Wells Fargo and Wellpoint.

Because outsourcing is a sensitive subject in America, Europe and Canada, some of the Genpact clients prefer a low key association.

Techgoss has learnt that Canada’s TD Bank Financial Group has signed a major contract with Genpact that would involve recruitment of between 500-1000 Agents in India.  The TD Bank Financial Group is one of the biggest companies in Canada employing 74,000 people worldwide.  TD Bank Financial Group has 18 million customers and CDN $574 Billion in assets.

According to sources in the Canadian bank,  their processes to be managed by Genpact would involve recruiting about 1000 employees in India.  Genpact would manage a number of TD Bank processes including Credit Card Dispute, Collection and fraud. Genpact will start hiring for the first training batch in a couple of weeks.

If you want to see how sensitive the subject of outsourcing is at TD Bank, check out the following email sent by TD Bank to Canadian media in 2008 when it first tried out outsourcing on a small scale.

“
Kelly Hechler, TD Bank
Jan 11 2008

Though the majority of customer service calls are handled by our call centres in Canada, some of our customer service calls are answered by our vendor in India, a vendor we chose after extensive due diligence.

All of the vendor employees in India receive similar training regarding processes, privacy, customer service and compliance to what our TD employees receive in Canada.

Technology and production controls are also in place, through TD and our vendor, to protect our customers and their personal information.

Overall, customers have responded positively to the service they receive.

We have been transparent about the site location and vendor relationship. If asked where they are located, the vendor specialists in India respond as any TD Specialist in Canada would by disclosing where they are located.
“