Tata Consultancy Services (TCS) is partnering with NICE Actimize, a 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, said a press release from the company.
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.”