Future-proof KYC processes with Blockchain enabled Quartz solution

Solution

Challenge

KYC regulations are increasingly becoming critical issues for organizations globally and it is estimated that millions are spent each year on KYC related procedures alone. Existing KYC processes are lengthy and complex, affording little transparency on how data is collected. Further, the secure authentication of customer identification data and the need to protect it from unauthorized and fraudulent usage add to the challenges faced by firms worldwide. What institutions are looking for is a single and integrated solution catering to multiple regulatory requirements and stakeholder needs.

Solution

The KYC solution from Quartz is an enterprise-wide e-KYC platform that offers organizations a comprehensive view of all client relationships spanning multiple business lines, enabling intelligent and informed decision-making. TCS has invested in future-proofing our KYC solution through integration with DLT (Distributed ledger technology) and AI/ML technologies, enabling organizations to leverage the power of ecosystems. This strategy is designed to bring in efficiencies for the organizations and enhance the end customer experience significantly. The solution is designed to simplify the end-to-end KYC process, standardize and streamline data collection for efficient and rapid customer onboarding, periodic reviews, remediation and lifecycle management. It caters to the KYC requirements of institutions across multiple industries.

Benefits

Instant access to trusted KYC information, elimination of duplicate records, immutability of records through the use of blockchain technology.
A common platform for multiple business lines or multiple institutions, allowing for the creation, modification and sharing of KYC data.
Flexibility to configure KYC rules and parameters as per business needs
Compliant with global regulations and data privacy norms.
Digital data analysis supported by unsupervised models and NLP, connecting internal and external data sources.
Reverse link analysis with advanced analytics and support for continuous risk assessment for real-time views of the client profile

The Quartz Advantage

Co-existence and Interoperability: Quartz solutions are built on this philosophy and can integrate with third-party solutions and various blockchain based systems and networks.
Integration: Quartz solutions are simple, lightweight and can seamlessly bring together third-party solutions, legacy applications and messaging middleware. They can therefore reduce entry barriers to blockchain adoption by insulating connecting systems from the complexities of the underlying blockchain.
Agile Development and Deployment Framework: Quartz DevKit along with its foundational components can provide an agile framework for faster development and deployment of business applications on a choice of blockchain platforms.

Contact

TCS is here to make a difference through technology.

We deliver excellence and create value for customers and communities.

Extraordinary expertise leads to remarkable results.

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TCS works hand in hand with world-leading investors.

Global knowledge. Local support

TCS is here to make a difference through technology.

We deliver excellence and create value for customers and communities.

Extraordinary expertise leads to remarkable results.

Want to be a global change-maker? Join our team.

Find the latest news about TCS in our Newsroom

Recent Press releases

Recent News

Recent recognitions

Upcoming events

TCS works hand in hand with world-leading investors.

Global knowledge. Local support

Quartz for KYC

Solution

In this article

Challenge

Solution

Benefits

The Quartz Advantage

Harness the power of next-gen technology

TCS is here to make a difference through technology.

We deliver excellence and create value for customers and communities.

Extraordinary expertise leads to remarkable results.

Want to be a global change-maker? Join our team.

Find the latest news about TCS in our Newsroom

Recent Press releases

Recent News

Recent recognitions

Upcoming events

TCS works hand in hand with world-leading investors.

Global knowledge. Local support

Solution

In this article

Challenge

Solution

Benefits

The Quartz Advantage

Harness the power of next-gen technology

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