Tech Mahindra and Discai to Deliver AI-Powered Anti-Money Laundering Solution for Global Financial Institutions

Pune – WEBWIRE – Friday, September 13, 2024

Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, announced a strategic partnership with Discai, a BankTech company and 100% subsidiary of the KBC Group. The partnership will deliver a comprehensive, AI-powered Anti-Money Laundering (AML) solution that is developed, tested and validated to enhance transaction monitoring and ensure regulatory compliance for financial institutions.

The partnership combines Tech Mahindras extensive IT integration experience with Discais state-of-the-art Artificial Intelligence (AI) and rule-based AML technology to offer financial institutions a reliable, compliant, and seamlessly integrated AML solution. The solutions dual focus on AI and rule-based transaction monitoring (KYT AML Know Your Transaction Anti- Money Laundering) will enable financial institutions to effectively prevent and detect financial crime. It will also help enterprises adhere to regulatory framework compliance.

Harshul Asnani, President and Head – Europe Business, Tech Mahindra, said, As the financial industry continues to navigate complex regulatory environments and sophisticated security challenges, offering them a strategic advantage is critical to strengthening their compliance capabilities. In response, Tech Mahindra has partnered with Discai to revolutionize anti-money laundering processes, offering customers unparalleled efficiency and security to help them Scale at Speed.

Tech Mahindra and Discai will provide customers with a comprehensive solution addressing the need for efficient and effective financial crime prevention. The modular solution will combine AI- driven technology with a robust rule-based engine, ensuring full compliance with regulatory standards while integrating seamlessly with existing systems. Additionally, Tech Mahindra will enhance the operational efficiency of financial institutions by reducing the risks associated with complex IT integrations.

Fabrice Deprez, CEO, Discai, said, We are excited to partner with Tech Mahindra to extend our advanced AML solutions to a broader market. Powered by the expertise of KBC Bank Group, our AI-driven and rule-based technology, combined with Tech Mahindras proven IT integration skills, ensures that financial institutions can effectively combat financial crime while fully adhering to stringent regulatory requirements.

For over two decades, Tech Mahindra has supported financial institutions with core transaction processing, automation, and digital transformation. The business has successfully delivered over 500 programs across over 300+ financial institutions across five continents, including complex, multi-year bespoke transformation programs with Fortune 500 banks.

About Discai

Discai, a fully-owned subsidiary of KBC Group, pioneers innovative AI-based solutions to combat financial crime. Backed by KBCs expertise in compliance and data science, Discai offers unmatched domain and technology proficiency.

Our +100 data scientists develop cutting-edge solutions, including the flagship KYT AML (Know Your Transactions Anti-Money Laundering), designed to boost the efficiency and effectiveness of end-to-end AML processes, within the strict regulatory context of a bank. What sets us apart is our unique collaboration between compliance experts and data scientists, ensuring solutions meet the highest legal and risk standards. With Discai, financial institutions access proven, trustworthy tools to navigate complex regulatory landscapes and fight financial crime effectively. More information: www.discai.com.

About Tech Mahindra

Tech Mahindra (NSE: TECHM) offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 147,000+ professionals across 90+ countries helping 1100+ clients, TechM provides a full spectrum of services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services. It is the first Indian company in the world to have been awarded the Sustainable Markets Initiatives Terra Carta Seal, in recognition of actively leading the charge to create a climate and nature-positive future. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies. For more information on how TechM can partner with you to meet your Scale at Speed imperatives, please visit https://www.techmahindra.com/

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