Implementing our innovative solution i-AML at Life Insurance Corporation of India

IDBI Intech, (Intech) India’s BFSI Digital Transformation front runner, implements its innovative Anti Money Laundering solution at Life Insurance Corporation of India (LIC)

Mumbai (India), September 2021: IDBI Intech Ltd., (Intech) a technology led business transformation organisation offering specialised solutions in the Banking, Financial Services and Insurance (BFSI) verticals has successfully implemented their i-AML© (Anti Money Laundering) solution at India’s insurance giant, the Life Insurance Corporation of India (LIC).

Intech has made steady investments in the latest industry solutions for the BFSI sector, with cutting-edge technology, customer satisfaction and market demands as top priorities. The next generation technologies currently being leveraged include Blockchain, Cyber Security, Artificial Intelligence and Machine Learning.

i-AML© will provide an Enterprise-Wide Single View of Risk & Compliance at transactions & customer level, harnessing Advanced Analytics, Workflow and Artificial Intelligence with a comprehensive set of pre-built rules and scenarios.

LIC Officials expressed their happiness to implement the software as it will help them upgrade their Anti Money Laundering reporting system. Acknowledging the trust and faith reposed by LIC in IDBI Intech Ltd., Mr. Surajit Roy, MD & 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. It is an honour to be associated with LIC in their digital journey."

With over 500 million policies and an overall asset base of over USD 415 Billion (INR 31 Trillion), LIC is one of the largest insurance companies in the world and has acknowledged Intech’s Digital Transformation solutions by implementing its cutting edge i-AML© solution.

About IDBI Intech Ltd.:
IDBI Intech Ltd. based in Mumbai, India is a niche FinTech products and services company specialising in business transformation in the Banking Financial Services and Insurance space. It is a part of IDBI Bank which is a leading universal commercial bank in India.