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Financial Crime

Offering

Financial Crime Compliance Offerings

Strengthen defense against financial crime and future-proof your business

 

Challenge

Financial institutions are no strangers to money laundering, fraud, and other financial crimes. However, the frequency and severity of such crimes have been on the rise, posing a significant challenge to banks and financial services firms. The COVID-19 crisis has magnified the problem for financial institutions, which were already struggling to tackle their long-standing financial crime compliance (FCC) issues owing to poor data quality, fragmented compliance platforms, high false alert volumes, SLA breaches, and high operational cost. To add to the woes of banks and financial services firms, customer transaction behaviors have significantly changed – and are changing still – in the wake of the ongoing pandemic.  

TCS Solution

TCS offers a range of FCC solutions and services spanning areas such as KYC, sanctions, AML compliance, transaction monitoring, and fraud management. TCS’ FCC suite includes:

  • Consulting and advisory services around regulatory changes, technology led business transformations, risk and operational impact assessments, automation and optimization analysis of FCC functions, and product evaluations
  • Innovation strategy for FCC combining the best of robotics, artificial intelligence, machine learning, NLP, text mining, and other technologies to build digital solutions for enhancing the effectiveness and efficiency of financial crimes prevention, detection, investigation, and reporting mechanisms
  • Solution accelerators including cognitive RPA for KYC, Smart KYC document verification, dynamic customer risk profiling, FinCEN/FIU inquiry management, and RPA-based auto alert disposition
  • Professional services for development and implementation of data analytics and assurance frameworks

Benefits

TCS’ solutions and services are backed by global best practices and industry benchmarks. Our FCC suite extends a host of benefits to financial institutions, including:

  • Comprehensive transformation and innovation strategy to safeguard against probable financial crimes
  • Significant enhancement of FCC effectiveness and efficiency
  • Regulatory updates, thought leadership, and advisory to stay ahead of the curve
  • Alliance with fintechs to harness the latest and best in FCC technology

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