Tech Mahindra inches up on entering into strategic partnership with Discai
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Tech Mahindra is currently trading at Rs. 1643.15, up by 1.35 points or 0.08% from its previous closing of Rs. 1641.80 on the BSE.
The scrip opened at Rs. 1645.50 and has touched a high and low of Rs. 1650.00 and Rs. 1639.35 respectively. So far 4186 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1664.15 on 28-Aug-2024 and a 52 week low of Rs. 1089.00 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 1650.00 and Rs. 1575.55 respectively. The current market cap of the company is Rs. 160602.91 crore.
The promoters holding in the company stood at 35.05%, while Institutions and Non-Institutions held 54.11% and 10.85% respectively.
Tech Mahindra has entered into a strategic partnership with Discai, a BankTech company and 100% subsidiary of the KBC Group. The partnership will deliver a comprehensive, AI-powered Anti-Money Laundering (AML) solution that is developed, tested and validated to enhance transaction monitoring and ensure regulatory compliance for financial institutions.
The partnership combines Tech Mahindra’s extensive IT integration experience with Discai’s state-of-the-art Artificial Intelligence (AI) and rule-based AML technology to offer financial institutions a reliable, compliant, and seamlessly integrated AML solution. The solution’s dual focus on AI and rule-based transaction monitoring (KYT AML – Know Your Transaction Anti-Money Laundering) will enable financial institutions to effectively prevent and detect financial crime. It will also help enterprises adhere to regulatory framework compliance.
Tech Mahindra and Discai will provide customers with a comprehensive solution addressing the need for efficient and effective financial crime prevention. The modular solution will combine AI-driven technology with a robust rule-based engine, ensuring full compliance with regulatory standards while integrating seamlessly with existing systems. Additionally, Tech Mahindra will enhance the operational efficiency of financial institutions by reducing the risks associated with complex IT integrations.
Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise.
