IDBI Intech implements its innovative Anti Money Laundering solution at Life Insurance Corporation of India (LIC)

  • Finance
  • August 31, 2021
  • 0 Comments

Mumbai (Maharashtra) [India], August 31: IDBI Intech Ltd., the technology-led business transformation organisation offering specialised solutions in the Banking, Financial Services and Insurance (BFSI) verticals, has successfully implemented their iAML (Anti Money Laundering) solution at India’s insurance giant, the Life Insurance Corporation of India (LIC).

IDBI Intech is a dominant FinTech products and services organisation – focusing on strategic niche digital transformations for its clients.

IDBI Intech has made steady investments in the latest industry solutions for the BFSI sector, with cutting-edge technology, customer satisfaction and market demand as top priorities. The next-generation technologies currently being leveraged include Blockchain, Cybersecurity, Artificial Intelligence and Machine Learning.

iAML will provide an Enterprise-Wide Single View of Risk & Compliance at transactions & customer level, harnessing Advanced Analytics, Workflow and Artificial Intelligence with a comprehensive set of pre-built rules and scenarios.

LIC Officials expressed their happiness to implement the software as it will help them upgrade their Anti Money Laundering reporting system. Acknowledging the trust and faith reposed by LIC in IDBI Intech Ltd., Mr. Surajit Roy, MD & CEO, IDBI Intech Ltd., said, “We are humbled at the opportunity to serve the nation’s oldest and most trusted insurance provider with our state-of-art Anti Money Laundering solution. It is an honour to be associated with LIC in their digital journey.”

With over 500 million policies and an overall asset base of over US$ 415 Bn (Rs. 31 trillion), LIC is one of the largest insurance companies in the world and has acknowledged Intech’s Digital Transformation solutions by implementing its cutting edge iAML solution.

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