Together Tata Consultancy Services and NICE Actimize will Bring Transformation Capabilities to Financial Services Organizations to More Effectively Fight Financial Crime
NEW YORK | MUMBAI, September 21, 2021: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, is partnering with NICE Actimize, a NICE (Nasdaq: NICE) business, the broadest provider of financial crime, risk and compliance solutions for global financial institutions, to implement anti-money laundering, compliance, and fraud risk management solutions. The partnership with NICE Actimize will further enable the two companies to provide integrated services, solution synergies and global scale to banking, financial services, and insurance clients.
The partnership will combine TCS’ and NICE Actimize’s domain expertise and financial crime and compliance solutions. TCS has extensive experience partnering with some of the world’s largest banks and has built unparalleled expertise in financial crime and compliance services across KYC, AML and anti-fraud operations. TCS’ comprehensive set of services in this domain include consulting, analytics, transformation and technology solutions, platform solutions, and change management services. TCS has been continuously investing in financial crime and compliance-focused research and adopting RegTech designs to combat financial crime, enhance associated market compliance, and minimize financial and reputational risks.
TCS leverages its Machine First™ approach and innovative solutions in financial crime and compliance to offer end-to-end services to financial institutions to control financial crime and fraud risks.
“Evolving financial crime typologies, increased transgressions, and higher risk exposures require financial institutions to continuously enhance the controls for combating financial crime. Advanced technology designs, data interventions, and digitalization can enable these organizations to maintain a robust defense,” said K Krithivasan, Business Group Head, Banking, Financial Services, and Insurance, TCS. “The TCS and NICE Actimize partnership will bring in the right mix of domain expertise, data analytics, world-class solutions, scale and agility to help our customers transform their financial crime controls and compliance function.”
Craig Costigan, CEO, NICE Actimize, said, “As we join together with the TCS organization, NICE Actimize is excited to expand the footprint for our financial crime solutions, while allowing us to provide enhanced customer support and services. We welcome the opportunity to further our market expansion within TCS’ extensive network.”
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 500,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com.
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