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 compounded this problem for financial institutions, which were already struggling to tackle long-standing financial crime compliance 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.
TCS offers a range of financial crime compliance solutions and services spanning areas such as KYC, sanctions, AML compliance, transaction monitoring, and fraud management.
TCS’ financial crime compliance suite includes:
TCS’ solutions and services are backed by global best practices and industry benchmarks.
Our financial crime compliance suite offers a range of benefits to financial institutions, including: