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CIO Review >> Magazine >> September - 2016 issue

TSS Consultancy: Presenting a Comprehensive AML & Surveillance Suite for Financial Markets

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Businesses are becoming global with India expected to be a 17 trillion dollar economy, and resultantly compliance will increase at a pace unimaginable. Businesses need to have compliance technology partners which are sound in terms of technology but are also constantly updating and beating deadlines rather than just meeting them. One such company, TSS Consultancy, headquartered in Mumbai, Maharashtra, is a technology solutions provider for the financial institutions including stock exchanges, stock brokers, and money transfer Principal Agents. TSS is known for creating effective products which help in getting complete control of back office and middle office related functions, as well as crucial compliance related areas like adherence to regulations by SEBI, RBI and other statutory bodies like NSE, BSE, CDSL,NSDL etc.

TrackWizz
TSS offers implementing a TrackWizz AML Compliance programme which is successfully implemented with the largest (having 2 million customers) and the smallest (having 500 customers) institutions. Being a robust, versatile and intellectual solution, it helps generate quality alerts and provides quality inputs to analysis team around the alert to help make decisions faster. The yearly licensing mode indicates that there is no upfront cost. As feeds required are provided, similarly regulatory reporting updates are also covered. Mature implementation programme ensures that TSS help organisations save on resources. TrackWizz AML solution is being used by more than 90 institutions, both large and small scale institutions.

A comprehensive solution for CKYC, which has its own onboarding platform and can also, be used as only a bridge between the existing customer information & system and CKYC platform is TrackWizz CKYC. The latest installment in the TSS’ portfolio of solutions- TrackWizz CKYC solution, helps meet one of the most challenging task of complying with norms to get the information across to the CERSAI centralised KYC platform. Currently, there might be a misplaced confidence on the extent to which existing Know Your Client (KYC) information is readily available and/or could be leveraged. Also, very few organizations have a single source of necessary information to readily make the required determinations with respect to account holders. TrackWizz FCS (FATCA CRS Compliance) solution caters to financial institution to meet the FATCA CRS Compliances. Embedded with a customer communication platform and document management, it helps collect declaration in a paperless manner from a large customer base and then finally assist creation of submission to the regulator. TrackWizz ETT Solution has been used by organisations for not only keeping controls on employee trades but also giving the flexibility to the compliance team to implement different rules of compliance for different categories of the same. “The solution’s paperless approach with a combination of an effective user interface to implement the most sophisticated controls in a rather simplified manner has earned itself the largest stock exchange as customer”, says, Sagar Tanna, Founder & Director, TSS Consultancy.

8 years into existence TrackWizz has its presence today in the following areas: Anti-Money Laundering compliance; Insider Trading Compliance; FATCA CRS Compliance; Research Analyst compliance; CERSAI Central KYC Repository compliance and aims to become a premier technology solutions provider for the finance industry.