IDBI Intech implements anti money laundering solution at LIC

Hyderabad IDBI Intech Ltd, a fintech solution provider said on Friday that it has implemented its anti money laundering solution (iAML) at Life Insurance Corporation of India (LIC).

iAML will provide an enterprise-wide single view of risk and compliance at transactions and customer level, harnessing advanced analytics, workflow and AI with a comprehensive set of pre-built rules and scenarios, IDBI Intech said.

LIC officials expressed their happiness to implement the software as it will help them upgrade their money laundering reporting system.

Surajit Roy, MD and 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."