Tech Mahindra, Discai To Deliver AI-Powered Anti-Money Laundering Solution

Tech Mahindra Ltd. has announced a partnership with Discai, a banktech company and subsidiary of the KBC Group, to deliver an artificial intelligence-powered anti-money laundering solution. The solution will be developed, tested and validated to enhance transaction monitoring and ensure regulatory compliance for financial institutions.

The partnership combines Tech Mahindra's IT integration experience with Discai's AI and rule-based AML technology to offer financial institutions a compliant AML solution. The solution's dual focus on AI and rule-based transaction monitoring (KYT AML – Know Your Transaction Anti-Money Laundering) will help financial institutions prevent and detect financial crime.

"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," Harshul Asnani, president and head of Europe business, Tech Mahindra, said. "In response, Tech Mahindra has partnered with Discai to revolutionise anti-money laundering processes."

Additionally, Tech Mahindra will aim to enhance the operational efficiency of financial institutions by reducing the risks associated with complex IT integrations.

"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," said Fabrice Deprez, chief executive officer of Discai.