State Informatics Limited (SIL), a leader in digital transformation solutions, and Tata Consultancy Services (TCS), a global IT services, consulting, and business solutions organization, are proud to announce a strategic alliance agreement aimed at transforming the banking and financial services sector in Mauritius. This partnership leverages the Quartz solution from TCS to address, among others, the KYC and compliance challenges faced by the Banking, Financial Services, and Insurance (BFSI) segment.
The alliance combines SIL’s deep market knowledge and expertise in Mauritius with TCS’s global presence and innovative technology solutions.
A part of the Tata group, India’s largest multinational business group, TCS has over 601,000 of the world’s best-trained workforce operating in 55 countries. This collaboration aligns perfectly with SIL’s commitment to bringing cutting-edge technology, utilized by global leaders in the banking and financial services sector, to Mauritius and the region.
Quartz™ – Advancing FinTech and Regulatory Compliance
Quartz provides foundational technology, tools and business solutions that have been designed to enable co-existence, integration and interoperability – architectural principles that enable organizations to harness next-gen technologies such as DLT and AI. In the BFSI sector, the range of solutions from Quartz comprise those for KYC & Sanctions screening, real-time fraud monitoring, transaction surveillance, Digital Guarantees, Proxy resolution and decentralized Self Sovereign identity management among others.
Mr. Kemraz Mohee, CEO of SIL, stated, “SIL partners with global leaders and we are extremely happy to conclude the alliance with TCS. By collaborating with the industry pioneer for the banking and financial services sector, we enhance our FinTech offering in order to bring the best of breed solutions to our customers, helping them stay at the forefront of technology innovation. Our deep understanding of local regulations and market conditions allows us to tailor these solutions to the specific needs of financial institutions in Mauritius. Additionally, SIL is building a dedicated team to oversee our financial services portfolio, ensuring focused expertise and support for our clients in the financial sector.”
This strategic alliance marks a significant step forward in the digital transformation journey of the banking and financial services sector in Mauritius. It underscores the commitment of both SIL and TCS to leveraging technology to create a more efficient, compliant, and innovative financial ecosystem.
About QUARTZ – https://www.tcs.com/quartz
Quartz provides foundational technology, tools and business components that harness the power of next-gen technologies including DLT, AI/ML for organizations across varied industries. Quartz caters to organizations across Industry segments including Financial Services, Banking, Supply Chain, Energy & Utilities and eGovernance. Backed by awards from the Asian Banker (Best Fraud Prevention Technology Implementation 2023), Financial Technology Forum (Best New Post Trade Solution of the Year 2022), Asset Servicing Times (Outstanding Innovation Award 2022) and recognition from Analysts (ranked #1 Best Performing Fraud Management Solution by IBS Intelligence 2022) Quartz can help organizations operate at the forefront of technology innovation. To know more about Quartz, please visit: https://www.tcs.com/quartz
About TATA CONSULTANCY SERVICES (TCS) – http://www.tcs.com
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India’s largest multinational business group, TCS has over 601,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and the NSE in India. TCS’ proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index.
TCS media contacts:
| Corporate Communications & India | Email: [email protected] Email: [email protected] | Phone: +91 22 6778 9999 Email: [email protected] | Phone: +91 22 67789098 |
About SIL – https://sil.mu/
For over three decades, SIL has been a key player in driving digital transformation across Mauritius and more than 15 African countries. Our expertise extends to both public and private sector organizations, empowering them to navigate the evolving landscape of technology and compliance. SIL specializes in providing tailor-made solutions for medium to large-sized enterprises, automating business processes, ensuring regulatory compliance, and safeguarding data.
Our comprehensive solution stack encompasses KYC solutions, ERP (Financial with IFRS 9 Reporting), cybersecurity, digital signature, hybrid cloud, and data management and compliance. These offerings position SIL at the forefront of driving positive change, particularly in the financial services sector.
SIL Media Contact:
Corporate Office: [email protected] | Phone: +230 207 8000
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