TCS' Quartz recognized as Best Performing Fraud Management Solution; stock zooms ~2%

27 Jul 2022 , 01:32 PM

Tata Consultancy Services Limited (TCS) announced that its ‘Quartz’ was named an Industry Special Leader and ranked as the number one Fraud Management solution in the IBS Intelligence Sales League Tables (SLT) for 2022.

The IBS SLT is the outcome of an annual benchmarking exercise in which global banking technology suppliers are ranked across 22 system categories based on the number of new customer contracts signed in a given calendar year.

It has been in operation for over 21 years and has evolved into a barometer for financial technology supplier sales performance across the banking and financial services industries.

Quartz’s fraud management solution addresses a wide range of financial crime regulatory requirements. The solution is constantly improved to meet changing market needs in the anti-money laundering space, and it includes well-defined APIs for quick and easy integration with external sources and third-party systems.

The solution is compliant with global and regional regulations such as FATF, PSD2, and FIU, and it includes configurable business rules for determining fraud patterns across banking, including debit and credit cards, ATM, SWIFT, local transfers, and direct channels such as internet banking, mobile, IVR, and instant payments.

Quartz offers a comprehensive client risk profile to ensure a consistent client experience across channels, as well as dynamic clustering to detect hidden customer segments.

At around 1.35 PM, TCS was trading at Rs3,168 per piece, up by Rs52.15 or 1.67% from its previous closing of Rs3,115.85 on the BSE. The scrip touched intraday high and low of Rs3,168 and Rs3,102 respectively.