Tookitaki's Anti-financial Crime (AFC) Ecosystem helps Banks and Fintech Fight Financial Crime
SINGAPORE, Oct. 28, 2024 /PRNewswire/ -- An estimated $2 trillion is laundered globally each year, and new financial crime scenarios are emerging every day. Banks and fintechs, with their current approach of operating in silos, are struggling to keep up.
Tookitaki, a global leader in anti-financial crime technology, is reshaping the fight against financial crime across Asia-Pacific by building the trust layer for financial services. Tookitaki's Anti-Financial Crime (AFC) Ecosystem, together with the advanced AI of its flagship solution FinCense, enables institutions to build consumer trust and institutional trust by preventing fraud and combating money laundering.
FinCense integrates seamlessly with the AFC Ecosystem, providing financial institutions with access to a global network of financial crime experts. This unique combination of collaborative intelligence and cutting-edge AI allows institutions to stay ahead of evolving threats while meeting regulatory requirements.
In the Philippines, PayMongo has already seen significant results as one of the first to adopt Tookitaki's Compliance-as-a-Service (CaaS) deployment model. By leveraging the AFC Ecosystem's extensive repository of risk scenarios and FinCense's advanced AI technologies PayMongo has improved threat detection and reduced false positives.
Jojo Malolos, CEO of PayMongo, commented, "As a comprehensive provider of financial tools, safeguarding our partners against evolving threats remains our top priority. By collaborating with the AFC Ecosystem, we gain invaluable global risk insights, allowing us to proactively address emerging risks. This ensures we continue to build trust and confidence with our merchants while delivering secure, innovative solutions."
Abhishek Chatterjee, Founder and CEO of Tookitaki, stated, "Our platform's uniqueness lies in harnessing the collaborative intelligence of the AFC Ecosystem. Our success in emerging markets proves the strength of our collaborative model. The AFC Ecosystem empowers financial institutions to adapt quickly to new threats, giving them the tools to scale up their compliance strategies effectively."
By blending cutting-edge technology with the AFC Ecosystem's collaborative intelligence, Tookitaki is transforming financial crime prevention in Asia.
About Tookitaki
Tookitaki is transforming financial services by building a robust trust layer that focuses on two crucial pillars: preventing fraud to build consumer trust and combating money laundering to secure institutional trust. Our trust layer leverages collaborative intelligence and a federated AI approach, delivering powerful, AI-driven solutions for real-time fraud detection and AML compliance. Our platform is built on modern data engineering, ensuring real-time responsiveness, higher throughput, security, and availability.
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SOURCE Tookitaki
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