Sustainable
compliance
is
possible

Tookitaki combines machine learning, distributed systems, and business expertise to create the building blocks of sustainable compliance management.

in

Anti-Money Laundering

 

Reconciliation

Effectiveness
Efficiency

Our Powerful Solutions

Anti-Money Laundering Suite (AMLS)

An award-winning, end-to-end, machine learning solution with modules around transaction monitoring & names screening. This solution complements current legacy systems, reduces false alerts, and detects ‘missed’ suspicious cases, finding the right balance between efficiency and effectiveness.

Reconciliation Suite (RS)

A proven, end-to-end, machine learning solution with modules around matching and substantiation. It can improve match rates, accurately detect exception types and recommend adjustment amount for automatic reconciliation. Result: High efficiency and quality in investigation process and lower cost of operations.

A trusted partner of global banks for enabling sustainable compliance

“The whole world of compliance has changed significantly from where it was 5 years back, mostly seen as an audit function. It moved from what we call KYC (Know Your Customer) to Know Your Transactions due to critical need of monitoring transactions to detect organized criminal cells. Solutions like Tookitaki AMLS can effectively monitor transactions for detecting emerging AML threats and help banks develop a robust compliance framework.”

Bala Swaminathan,

Advisory Board Member,

Westpac International

“The use of RegTech such as Tookitaki’s AMLS enables us to augment our ability to identify actionable alerts and to minimise false positives. These sharpen the accuracy and effectiveness of our AML risk management.”

Victor Ngo,

Head of Group Compliance,

United Overseas Bank, Singapore

“Machine learning has the ability to revolutionise the reconciliation space. Our engagement with Tookitaki dates back to May 2016, when we launched our Catalyst programme. Tookitaki is one of the few startups, with whom we collaborated to automate break reconciliation process in finance. The solution achieved promising results in production and helped bring in operational efficiency.”

Rathnaprabha Manickavachagam,

Head of Innovation & Digital Transformation,

Société Generale Global Solution Centre, India

“The whole world of compliance has changed significantly from where it was 5 years back, mostly seen as an audit function. It moved from what we call KYC (Know Your Customer) to Know Your Transactions due to critical need of monitoring transactions to detect organized criminal cells. Solutions like Tookitaki AMLS can effectively monitor transactions for detecting emerging AML threats and help banks develop a robust compliance framework.”

Bala Swaminathan,

Advisory Board Member,

Westpac International

“The use of RegTech such as Tookitaki’s AMLS enables us to augment our ability to identify actionable alerts and to minimise false positives. These sharpen the accuracy and effectiveness of our AML risk management.”

Victor Ngo,

Head of Group Compliance,

United Overseas Bank, Singapore

“Machine learning has the ability to revolutionise the reconciliation space. Our engagement with Tookitaki dates back to May 2016, when we launched our Catalyst programme. Tookitaki is one of the few startups, with whom we collaborated to automate break reconciliation process in finance. The solution achieved promising results in production and helped bring in operational efficiency.”

Rathnaprabha Manickavachagam,

Head of Innovation & Digital Transformation,

Société Generale Global Solution Centre, India

“The whole world of compliance has changed significantly from where it was 5 years back, mostly seen as an audit function. It moved from what we call KYC (Know Your Customer) to Know Your Transactions due to critical need of monitoring transactions to detect organized criminal cells. Solutions like Tookitaki AMLS can effectively monitor transactions for detecting emerging AML threats and help banks develop a robust compliance framework.”

Bala Swaminathan,

Advisory Board Member,

Westpac International

“The use of RegTech such as Tookitaki’s AMLS enables us to augment our ability to identify actionable alerts and to minimise false positives. These sharpen the accuracy and effectiveness of our AML risk management.”

Victor Ngo,

Head of Group Compliance,

United Overseas Bank, Singapore

“Machine learning has the ability to revolutionise the reconciliation space. Our engagement with Tookitaki dates back to May 2016, when we launched our Catalyst programme. Tookitaki is one of the few startups, with whom we collaborated to automate break reconciliation process in finance. The solution achieved promising results in production and helped bring in operational efficiency.”

Rathnaprabha Manickavachagam,

Head of Innovation & Digital Transformation,

Société Generale Global Solution Centre, India

“The whole world of compliance has changed significantly from where it was 5 years back, mostly seen as an audit function. It moved from what we call KYC (Know Your Customer) to Know Your Transactions due to critical need of monitoring transactions to detect organized criminal cells. Solutions like Tookitaki AMLS can effectively monitor transactions for detecting emerging AML threats and help banks develop a robust compliance framework.”

Bala Swaminathan,

Advisory Board Member,

Westpac International

“The use of RegTech such as Tookitaki’s AMLS enables us to augment our ability to identify actionable alerts and to minimise false positives. These sharpen the accuracy and effectiveness of our AML risk management.”

Victor Ngo,

Head of Group Compliance,

United Overseas Bank, Singapore

“Machine learning has the ability to revolutionise the reconciliation space. Our engagement with Tookitaki dates back to May 2016, when we launched our Catalyst programme. Tookitaki is one of the few startups, with whom we collaborated to automate break reconciliation process in finance. The solution achieved promising results in production and helped bring in operational efficiency.”

Rathnaprabha Manickavachagam,

Head of Innovation & Digital Transformation,

Société Generale Global Solution Centre, India

News & Views

Need for New Customer Risk Rating Models: Not All Customers Are Created Equal

Being estimated at between US$800 billion to US$2 trillion every year, money laundering is a serious problem for the global economy. While regulators and financial institutions are working hard to prevent and reduce the crime, launderers are becoming...

Is AML Compliance Heading for a New Normal in the Age of Digital Payments?

Increased digitization has influenced various businesses and brought in a paradigm shift in the way they create business models and approach growth opportunities. Moving away from conventional transaction modes such as cash and checks, banks and FIs ...

Excel to AI: How Reconciliation Tools Evolve for Better

In the world of finance, reconciliation is the process of comparing two related sets of records or two accounts at the end of a specific accounting period to find out if account balances are matching in both records. Periodic reconciliation of accoun...

Lessons Not Well Learned: 2020 AML Fines Cross 2019 Total

If research is to be believed, institutions across the globe have not done enough in the anti-money laundering (AML) compliance area. Data from consultancy Duff & Phelps revealed that AML fines in the first six months of 2020 reached US$706 milli...

Need for New Customer Risk Rating Models: Not All Customers Are Created Equal

Being estimated at between US$800 billion to US$2 trillion every year, money laundering is a serious problem for the global economy. While regulators and financial institutions are working hard to pre...

Is AML Compliance Heading for a New Normal in the Age of Digital Payments?

Increased digitization has influenced various businesses and brought in a paradigm shift in the way they create business models and approach growth opportunities. Moving away from conventional transac...

Excel to AI: How Reconciliation Tools Evolve for Better

In the world of finance, reconciliation is the process of comparing two related sets of records or two accounts at the end of a specific accounting period to find out if account balances are matching ...

Lessons Not Well Learned: 2020 AML Fines Cross 2019 Total

If research is to be believed, institutions across the globe have not done enough in the anti-money laundering (AML) compliance area. Data from consultancy Duff & Phelps revealed that AML fines in...