[Exclusive Interview] This Tech Solutions Company From India Empowers Organizations To Fight Financial Crimes

Recently, we interacted with Mr. Sagar Tanna, Founder & CEO of TSS – whose mission is to fight financial crime, maximize compliance and simplify operations by delivering world-class technologies at high velocity.

Here are the interview highlights:

1. Please share information on TSS Consultancy and its Tech platform Trackwizz ?

TSS Consultancy is a software product company incorporated in 2008 with a mission to fight financial crime and simplify operations through its multi module software product called TrackWizz, continuously enhanced by a team of 400+ individuals and supporting 350+ financial institutions

2. Kindly share more details on the product suite Trackwizz?

TrackWizz a software suite, one of its kind serving the multiple areas of compliance and operations in the areas of:

• Central KYC Registry based onboarding & Submission

• Sanction & watchlist screening 

• Transaction Monitoring for AML & surveillance 

• Risk rating and enhanced due diligence 

• FATCA & CRS Reporting 

• Insider Trading 

• It is currently serving 4 out of the top 5 private sector banks in the country 

• 8 out of the top 10 brokers in the country 

• 3 of the 4 major exchanges in the country

3. This year, FATF will be visiting India to conduct checks before India’s membership renewal, what do you suggest for organizations and how can they keep their regulatory policies in place?

FATF assessment is focussed on effectiveness and execution on the ground, it is crucial that we recognize 

1. Alignment: Our operations and actions should be inline with what our policies talk about 
2. Timely decisions: Alerts generated should be acted quickly 
3. Filing when required: Suspicion transaction filing with the FIU 
4. Investment in resources: Training , technology and people.

4. Tell us more on the Trackwizz AML solution and how is it providing relief to the financial institutions?

TrackWizz focus is on 

1. Subject Matter Expertise: We ensure that the compliance team has a complete understanding of the regulatory obligations which is a fundamental step. Our team comprises certified anti money laundering and financial crime specialists. 

1. Scope coverage: Ensuring completeness, TrackWizz platform ensures that it fully covers all the compliances, so compliance teams do not have to run multiple systems or manual tasks for the same compliance. 
2. Continuous evolution with support of customer community: Every 3 months our customers receive a new version which are enhancements free based on feedback of our customers and our research team. 
3. Flexible pricing: Allows us to support businesses of all sizes right from 500 customer base business to 3 crore.

6. How much has the company grown in revenues from the last 12 months and how much are you targeting?

We have grown from Rs 42 crores March 2022 to Rs 61 crores expected in March 2023   

7. What are your growth plans and are you planning to scale your offerings? If yes, kindly share details on the same

We have got our license to do business in Gift City by IFSCA, we are the first reg tech to get a direct authorization. 

Our SAAS offerings are scaling up at a good pace and we hope to serve the nation with these and definitely look to have a very good growth rate.