Tech Mahindra partners with Discai for AI-powered anti-money laundering solution

Tech Mahindra (NSE: TECHM), a global leader in technology consulting and digital solutions, has announced a strategic partnership with Discai, a BankTech company and a fully owned subsidiary of the KBC Group. The collaboration aims to deliver an advanced AI-powered Anti-Money Laundering (AML) solution designed to enhance transaction monitoring and ensure regulatory compliance for financial institutions.

The partnership leverages Tech Mahindra’s expertise in IT integration and Discai’s innovative Artificial Intelligence (AI) and rule-based AML technology to provide a comprehensive, reliable, and compliant solution for financial institutions. The solution’s dual focus on AI and rule-based transaction monitoring, known as KYT AML (Know Your Transaction Anti-Money Laundering), is set to bolster the capabilities of financial institutions in detecting and preventing financial crimes while complying with regulatory standards.

Harshul Asnani, President and Head of Europe Business at Tech Mahindra, highlighted the importance of this collaboration, stating, “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™.”

Comprehensive AI and Rule-Based AML Solution

Tech Mahindra and Discai’s partnership will provide a modular solution that combines AI-driven technology with a robust rule-based engine. This approach ensures full compliance with regulatory standards while seamlessly integrating with existing systems, making it a versatile choice for financial institutions worldwide. Additionally, Tech Mahindra’s involvement will enhance operational efficiency by reducing the risks associated with complex IT integrations.

Fabrice Deprez, CEO of Discai, expressed enthusiasm about the partnership, stating, “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 Mahindra’s proven IT integration skills, ensures that financial institutions can effectively combat financial crime while fully adhering to stringent regulatory requirements.”

Strengthening Compliance Capabilities in the Financial Sector

For over two decades, Tech Mahindra has been a key partner for financial institutions, supporting them with core transaction processing, automation, and digital transformation. The company has successfully executed more than 500 programs for over 300 financial institutions across five continents, including bespoke transformation programs for Fortune 500 banks. This extensive experience positions Tech Mahindra as a trusted provider of cutting-edge solutions that enhance compliance and operational efficiency in the financial sector.

The collaboration between Tech Mahindra and Discai is a strategic move to address the growing need for effective financial crime prevention solutions in an increasingly regulated industry. By combining AI with rule-based transaction monitoring, the two companies aim to set a new standard in the fight against money laundering, providing financial institutions with the tools they need to navigate complex regulatory landscapes efficiently.