Tech Mahindra, a global leader in technology consulting and digital solutions, has formed a strategic partnership with Discai, a subsidiary of KBC Group. Together, they will provide an AI-powered Anti-Money Laundering (AML) solution designed to enhance transaction monitoring and ensure regulatory compliance for financial institutions.
This collaboration leverages Tech Mahindra’s expertise in IT integration and Discai’s advanced AI and rule-based AML technology. The AML solution focuses on AI-driven and rule-based transaction monitoring (KYT AML – Know Your Transaction Anti-Money Laundering), enabling financial institutions to better detect and prevent financial crime while maintaining regulatory compliance.
Harshul Asnani, President and Head of Europe Business at Tech Mahindra, emphasized the importance of providing financial institutions with strategic advantages to navigate complex regulations and security challenges. This partnership aims to revolutionize anti-money laundering processes, improving efficiency and security for financial institutions.
The solution offers a modular approach, combining AI technology with a rule-based engine that ensures full regulatory compliance while integrating with existing systems. It also boosts operational efficiency by reducing risks tied to complex IT integrations.
Fabrice Deprez, CEO of Discai, expressed excitement about extending Discai’s AML solutions to a broader market through this partnership. Backed by KBC Bank Group’s expertise, the collaboration with Tech Mahindra ensures financial institutions can effectively combat financial crime while adhering to stringent regulations.
With over two decades of experience in supporting financial institutions through automation and digital transformation, Tech Mahindra has delivered over 500 programs across more than 300 institutions globally, including major transformation projects with Fortune 500 banks.
