Digital Digest: The Latest Tech News - Mindtree

Editorial Staff

9 August 2018

Mindtree
India-headquartered technology firm Mindtree has worked with Tookitaki, an Asian firm working in areas such as artificial intelligence, to harness AI so it can spot financial criminals such as money launderers more swiftly and easily.

The businesses are offering a system that uses AI to detect suspicious financial transactions more accurately, such as cutting false alerts, reduce costs and make analysts more productive. It is also offering automated reconciliation in a system designed to cut errors and delays.

"There is a compelling need for banks today to automate many traditionally manual, intensive, error-prone tasks," Kamran Ozair, executive vice president and head of banking, financial services and insurance at Mindtree, said.

Mindtree, which is based out of Bangalore, was founded in 1999 and now operates in 17 countries.