SymphonyAI and TCS Partner to Combat Financial Crime
SymphonyAI and TCS’s strategic collaboration to revolutionize financial crime detection globally with advanced AI solutions.
SymphonyAI, a leader in high-value enterprise AI SaaS for strategic industries, has partnered with Tata Consultancy Services (TCS) to expand and accelerate markets across business verticals worldwide. This strategic agreement focuses on financial crime detection, leveraging predictive and generative AI to benefit organizations across industries.
Addressing Financial Crime
According to the United Nations Office on Drugs and Crime (UNODC), criminals annually launder as much as 5% of global GDP, amounting to US $2 trillion. SymphonyAI and TCS are collaborating to arm financial institutions with responsible AI technologies for early detection of financial crime risks and patterns. Their aim is to shut down emerging threats and prevent crimes from occurring.
Financial Crime Prevention Offerings
SymphonyAI’s financial crime prevention offerings, including the SymphonyAI Sensa Copilot and the Sensa Investigation Hub, combine predictive and generative AI for industry-leading end-to-end financial crime investigation and risk management technology.
Alliance Benefits
The alliance between SymphonyAI and TCS expands the availability of predictive and generative AI capabilities for financial services organizations globally. TCS brings its in-depth domain, technology expertise, and global scale to the partnership, complementing SymphonyAI’s state-of-the-art AI technology.
Enhancing Financial Crime Prevention
The partnership enables financial institutions to more effectively predict, detect, and prevent financial crime. This collaboration underscores the commitment of both companies to responsible AI, ensuring that their advances are employed ethically and effectively to transform the efficacy of financial crime prevention.
Quotes from Leaders
Mike Foster, president, and CEO of SymphonyAI’s Sensa-NetReveal division, expressed excitement about the partnership, stating that it will deliver top-tier solutions for radically improved financial crime prevention and compliance results. Kumar Abhimanyu, SymphonyAI senior VP, and global head of strategic partnerships highlighted the collaboration’s potential to revolutionize industry solutions.
Overview
Tata Consultancy Services is an IT services, consulting, and business solutions organization with a 55-year track record of partnering with global enterprises. Its consulting-led, cognitive-powered services are delivered through a unique Location Independent Agile model. SymphonyAI, founded in 2017, aims to become the top enterprise AI SaaS company for digital transformation. Backed by a $1 billion commitment from Dr. Romesh Wadhwani, SymphonyAI has quickly grown to 3,000 professionals, focusing on critical growth verticals within the SAIGroup.
Conclusion
The partnership between SymphonyAI and TCS marks a significant step towards leveraging AI for combating financial crime. By combining their expertise, the two companies aim to deliver innovative solutions that set new standards in AI-powered digital transformation.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.