SIL and TCS Collaborate to Digitally Revolutionize Mauritius’ Banking Sector

State Informatics Limited (SIL), a prominent provider of digital transformation solutions in Mauritius, has announced a significant strategic partnership with Tata Consultancy Services (TCS), a global leader in IT services, consulting, and business solutions. This collaboration is set to transform the banking and financial services sector in Mauritius.

At the core of this alliance is TCS’s innovative Quartz solution, designed to address the pressing challenges of customer knowledge (KYC) and compliance that currently affect the banking, financial, and insurance (BFSI) industries.

By combining SIL’s in-depth understanding of the Mauritian market with TCS’s extensive global reach and technological capabilities, the partnership aims to deliver cutting-edge services tailored to local needs.

TCS is part of the Tata Group, India’s largest multinational conglomerate, employing over 601,000 skilled professionals across 55 countries.

The CEO of SIL, Kemraz Mohee, expressed his excitement about the partnership, emphasizing its alignment with the company’s mission to introduce advanced technologies used by global banking leaders to Mauritius and the surrounding region.

“Our collaboration enhances our FinTech offerings and enables us to provide top-tier solutions to our clients, allowing them to remain at the forefront of technological advancement,” stated Mohee.

He highlighted SIL’s expertise in local regulations and market dynamics, which will enable the company to customize solutions to meet the unique demands of financial institutions in Mauritius.

Additionally, SIL is committed to establishing a dedicated team to manage its financial services portfolio, ensuring specialized expertise and comprehensive support for clients in this sector.

The TCS Quartz platform is delivering a suite of core technologies, tools, and business solutions designed for integration and interoperability.

This is enabling organizations to utilize next-generation technologies, such as Blockchain, Distributed Ledger Technology (DLT), and Artificial Intelligence (AI).

Within the BFSI sector, Quartz is offering a variety of solutions that include KYC and sanctions checks, real-time fraud monitoring, transaction surveillance, digital guarantees, proxy resolution, and self-sovereign decentralized identity management, among others.

Through this partnership, SIL and TCS are poised to enhance the efficiency and security of financial services in Mauritius, paving the way for a more innovative and compliant banking environment.

Source: State Informatics Limited