Financial crime poses a significant threat to the global economy, undermining trust in financial institutions and disrupting the integrity of the financial system. Asset and wealth managers require robust and sophisticated solutions that can effectively identify, prevent, and mitigate financial crimes.
With over 20 years of experience partnering with various asset and wealth management firms in their transformation journeys, Coforge has the expertise to help transform the risk mitigation landscape through our unique blend of domain specific technology and business process solutions.
We highlight key offerings from Coforge that address various aspects of financial crime:
- Consulting Services: Our experienced SMEs and consultants help our customers formulate a risk-based approach which tailors preventive measures according to the level of risk associated with specific clients and transactions. Comprehensive customer due diligence (CDD) processes, including enhanced due diligence for high-risk entities, enable institutions to identify politically exposed persons (PEPs) and individuals with criminal backgrounds.
- Business Process Services: Coforge offers best of breed business process solutions to handle various aspects of the fraud detection and mitigation processes. We offer these services in multiple delivery formats – incl. managed services – to help our client identify risk incidents, run command and mitigation centres and provide customer support and call centre services.
- Technology services:
- Advanced Analytics and AI Technology: We help our clients develop and deploy state of the art solutions employing machine learning algorithms that can analyze vast datasets from multiple sources to identify suspicious transactions, fraudulent activities, and potential money laundering attempts. Our AI-powered models continuously adapt to evolving threats, ensuring improved accuracy and reduced false positives.
- Blockchain and Distributed Ledger Technology: We help our clients implement blockchain and distributed ledger technology (DLT), which enhances the transparency and traceability of financial transactions. Blockchain provides a tamper-resistant record of transactions, making it difficult for criminals to manipulate or conceal illicit activities.