Mphasis, WorkFusion Partner To Improve Financial Crime Operations For Enterprises
Mphasis will use WorkFusion's AI solutions to enhance banking and financial services.
Cloud and cognitive services provider Mphasis has announced that it will partner with WorkFusion, a digital workforce solutions company, to assist teams using artificial intelligence-driven digital workers in operational domains. These domains include customer service, onboarding, account opening, identity verification, anti-money laundering initiatives, and various compliance tasks involving document processing.
WorkFusion, using its AI digital workers, is helping the financial services sector comply with norms like the Bank Secrecy Act, anti-money laundering, and know your customer. This collaboration aims to advance the way banks and insurance companies implement compliance operations by enabling quick deployment of AI digital workers. The AI digital workers enable human-like process execution, enhancing user experiences and boosting operational efficiency, the company said.
The Work.AI platform “will enhance our efficiency and enable broader AI-powered solutions as an extension of our joint offerings to cover transaction monitoring, alert investigation and fraud alert disposition,” said Nitin Rakesh, CEO and managing director of Mphasis.
According to WorkFusion, the platform enables design, building, testing and deployment of intuitive AI digital workers from scratch while supporting cloud, on-premises and hybrid deployments.
The partnership will help “businesses automate work better and faster” and “help us deliver next-level services at scale,” said Adam Famularo, CEO of WorkFusion.
