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TCS Bancs | Compliance

 

In the face of ever-changing global regulations, how can firms stay on par with the latest compliance requirements and avoid penalties, sanctions, and serious damage to reputation? The need of the hour is a comprehensive technology solution that can predict risk scenarios and protect firms from future losses.

TCS BaNCS’ compliance offering is a proactive, web-based, enterprise-wide solution for monitoring money-laundering activities across various business lines such as retail banking, corporate banking, investment banking, cards, insurance, etc.

The TCS Advantage

Our solution is unique in the following ways:

  • Complies with all AML regulation requirements across the globe to help banks in any geography
  • Highly configurable and intelligent solution with in-built detection mechanisms which can track and sift out fraudulent transactions with clinical accuracy
  • Uses artificial intelligence for character profiling, which is then used to detect anomalies from the expected behavior of the customer

Features

TCS BaNCS for Compliance functionalities can primarily be categorized into the following segments:

  • Watch-list scanning
  • KYC / customer due diligence
  • Customer profiling
  • Configuration of business monitors (rules) and administrative roles
  • Transaction monitoring
  • Alert generation
  • Alert investigation
  • Regulatory and ad-hoc report generation

Benefits

Enterprise-wide compliance - Single, enterprise-wide, holistic view of the customer  ensures compliance with BSA, USA Patriot Act, FATCA, BASEL III, etc.

Advanced watch-list scanning - Complex algorithms to handle spelling variations, aliases, phonetic variation and alternate names scan customers and payments for suspicious or fraudulent activity.

Intuitive customer monitoring - Clustering algorithms group customers together, analyze their financial DNA and detect unusual transactional behavior.

Risk-based profiling - Advanced tools like link detection, statistical modeling, transaction tracing, etc. assess the risk associated with new and existing customers.

To know how TCS BaNCS can help you eliminate risks and develop a competitive advantage, email us at tcs.bancs@tcs.com.

View Brochure: Compliance solution from TCS BaNCS

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