What is Rage Frameworks?
RAGE Frameworks Inc., a subsidiary of Genpact, provides knowledge-based automation technology and artificial intelligence (AI) services for the enterprise. Founded in 2007 by Dr. Venkat Srinivasan, RAGE Frameworks is currently headquartered in Dedham, Massachusetts, with operation centers based in India (Pune and Belgaum).
The company offers products such as business automation and big data solutions. It specializes in wealth management and business banking through its information products and customized solutions. RAGE-AI™ is a no-code patented platform that is currently used by some of the largest banks, consulting companies, high tech firms, and logistics companies for end-to-end automation of knowledge-based processes.
Genpact is a global professional services firm helping businesses in their digital transformation stage. Its clients include hundreds of the Global Fortune 500 companies. Genpact calls its approach to design thinking, lean principles, and digital technologies “Lean Digital.” It currently employs over 77,000 individuals in over 20 countries. In 2016, it recorded a revenue of $2.57 billion.
In March 2017, Genpact signed a definitive agreement to acquire Rage Frameworks to expand its horizon of offerings by investing in artificial intelligence. With Genpact’s existing technology and Rage’s AI capabilities, Genpact aims to provide custom solutions to complex issues at unparalleled speeds.
Products and Services
The major products of RAGE Frameworks comprise RAGE LiveWealth, RAGE LiveCredit, RAGE LiveSpread, Capital Markets RTI, Supplied RTI, and the Credit RTI.
RAGE LiveWealth is an end-to-end wealth management service that assists RAGE Wealth Management Firm in enhancing client experience in a fast and economical way. Despite its complexity, the wealth management service complements existing internal IT infrastructure.
RAGE LiveCredit helps in the development of financial product solutions from origination to servicing. It is simple, as well as flexible enough to use in modernizing commercial lending operations. The technology also rapidly adapts to internal and external changes.
RAGE LiveSpread is an AI framework that automatically extracts vital data from a company’s financial statements, bank statements, and income tax returns. It is adaptable to frequently changing source file formats. The technology also helps reduce manual processing time and the probability of human errors. RAGE LiveSpread is a very comprehensive system that understands revolving credit lines, operating leases and contractual obligations, notes to accounts, and auditor’s opinions.
Rage Frameworks Competitors
RAGE Frameworks faces major competition from Automated Intelligence, Arago, and Symphony in the financial and logistical technology sector. According to estimates, Rage ranks third in the sector with a revenue of $11 million, next to Automated Intelligence’s $13.4 million and Arago’s $13 million, and just above Symphony’s $10.3 million.
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