Tookitaki Expands into the US with New Office in Charlotte
SINGAPORE, Sept. 24, 2018: Tookitaki Holding Pte Ltd, a leading regulatory technology company, is pleased to announce the official opening of its North American office in Charlotte, NC, in the United States. This new location will serve as the company’s sales and support hub in the US, as it looks to build its clientele across North America.
Located at Packard Place, 222 S Church St in Charlotte, the office will channel Tookitaki’s machine learning-powered solutions — Anti-Money Laundering Suite (AMLS) and Reconciliation Suite (RS) — to clients in the banking and financial services (BFS) sector.
“Being one of the top banking centers in the US with more than US$2 trillion in banking assets, Charlotte was a sensible choice for us as we continue our global expansion,” says Abhishek Chatterjee, Founder & CEO of Tookitaki.
The Charlotte office is led by Edward Rounds, who joined Tookitaki in mid-August as North American General Manager. Mr Rounds previously worked with IBM as Global Counter Fraud Sales Leader. He will be joined by additional new North American leadership:
- Seth Twery, Vice President, Client Engagement
- Andrew Margonis, Director, Product Management, and
- Gregory Brett, Vice President, Sales and Channels, Americas.
This seasoned team has more than 60 years’ experience in all aspects of Regulatory Technology. “I am thrilled to join Tookitaki. This company has engineered the most robust and purpose-built machine learning solution to complement the industry’s existing Anti-Money Laundering infrastructure. The firm is investing in top talent to deliver high value to the North American market,” says Mr Rounds.
“We were part of the Queen City Fintech incubator Class 7 and are interested in taking advantage of Charlotte’s start-up friendly ecosystem and access to top financial services talent. North Carolina banks are leaders in the adoption of emerging technologies to improve efficiency and effectiveness. We look forward to earning a spot as a partner of choice for these thought-leading firms,” adds Mr Chatterjee.
As an immediate step to mark its presence in the region, Tookitaki will attend Aite Group’s Inaugural Financial Crime Forum being conducted on September 27, 2018, in Charlotte as a sponsor. The company looks to build its network with key industry stakeholders through the conference that focuses on the latest and emerging fraud, anti-money laundering and authentication trends.
Incorporated in 2014 in Singapore, Tookitaki has witnessed exponential growth in its business in the APAC region with a number of global banks as clients and engagements. Recently, the company partnered with United Overseas Bank (UOB) to apply its machine learning technology towards the bank’s anti-money laundering efforts.
Leave a Comment
Tookitaki Raises Another US$11.7 million in Series A; Closes Round at US$19.2 million
– by Abhishek Chatterjee, Founder & CEO The Tookitaki team and I are excited to announce that we have raised an additional US$11.7 million in Series A funding, taking the total investment in the round to US$19.2 million. The current round w...
Tookitaki Joins Aite Financial Crime Forum as Sponsor
Technological advances have fundamentally changed the operational landscape of financial institutions. However, there are also new risks emerging in forms of sophisticated financial frauds and complex money laundering patterns. These risks can signif...
30 Years of FATF: Notable Facts About Global AML Watchdog
The Financial Action Task Force (FATF), the intergovernmental body formed in 1989 to combating money laundering, is celebrating its 30th anniversary this year. Since its inception, the global agency played a key role in identifying and preventing the...
Will Machine Learning Replace Compliance Professionals?
The impact of modern technologies such as artificial intelligence (AI) and machine learning on job security has been a widely discussed topic today. Of course, AI has advanced very quickly in the last few years and evolved to outperform humans in a n...
6 Most Prevalent Cyber-Laundering Methods in APAC
Despite being a medium to exchange information in real-time and with scale, the Internet is being misused in several ways. Among the slew of financial crimes facilitated by the Internet, money laundering draws importance due to its gigantic size and ...
ABA Regulatory Compliance Conference: 10 Sessions You Can’t Miss
The 2019 edition of the American Bankers Association (ABA) Regulatory Compliance Conference is a few more days away. Organized by the Washington, D.C.-based trade association, the conference is touted as the “one-stop shop to discuss today’s—an...
Tookitaki AMLS Wins SBR Technology Excellence Award 2019
Tookitaki’s Anti-Money Laundering Suite (AMLS), an end-to-end machine learning-powered transaction monitoring and names screening solution, has bagged the inaugural Singapore Business Review Technology Excellence Award 2019 in the category R...
Watchdogs Grow Optimistic about AI Prospects at Banks
Proper regulation of banking operations is important as any failure in the banking system would affect the wider economy. Therefore, banking is one of the most regulated industries across the globe. Financial regulators ensure that services to the cu...
Pitfall of Black Box AI at Banks: Explaining Your Models to Regulators
The use cases of artificial intelligence (AI) and machine learning in front-office, middle-office and back-office activities at banks are growing slowly but steadily. The major areas of AI play include customer service (virtual assistants, chatbots, ...
AI for Regulatory Compliance at Banks: 4 Assessments Before You Okay the Solution Proposal
Banking is one of the industries where artificial intelligence and machine learning find their applications at a rapid pace. Regulatory compliance within banking is an area which has become a costly and inefficient affair due to complex and never-sta...
We Believe in Innovation, the Key to Survival and Growth
“Innovation distinguishes between a leader and a follower.” -Steve Jobs What comes on the top of your screen when you google the meaning of the word innovation is – the introduction of something new and relevant such as a new idea, method o...
Compliance Functions in Need of a Technological Overhaul. Can Machine Learning be the Game-Changer?
McKinsey in its latest compliance benchmarking survey found that compliance function at financial institutions has reached “an inflection point” and current compliance standards are in an “inchoate state”. The firm has suggested five critical...
Tookitaki Raises US$7.5 mn Series A from Global VCs to Transform Regulatory Compliance
Tookitaki, a regulatory technology company that aims to enable financial institutions to develop sustainable compliance programs, has raised US$7.5 million in Series A round. The round was co-led by London-based Illuminate Financial, an early-stage e...
From Wachovia to Danske Bank: Biggest Money Laundering Cases in Recent Times
Money laundering – the criminal activity of processing criminal proceeds to disguise their origin – is one of the gravest problems faced by the global economy, and its size is growing rapidly. It is estimated that 2- 5% of the global GDP, or US$8...
A Modern Approach to Address the Reconciliation Challenges of Financial Services
Reconciliation of transactions is deemed critical for the smooth running of every financial institution. The speed and accuracy of data reconciliation can distinguish a successful institution from its counterparts. The process is primarily used to id...
Busting a Myth: Compliance Officer’s Job is All About Risk
Regulatory compliance has become a dreadful task for banks after regulators across the globe set stricter norms in the aftermath of the 2008 financial crisis in an effort to prevent financial crimes such as money laundering. Rules have been changed t...
SocGen Goes Next-Gen with Tookitaki Reconciliation Suite
Société Générale leveraged Tookitaki’s Reconciliation Suite to automate the bank’s existing break reconciliation system. Key Challenges Addressed The bank’s finance department was unable to handle new breaks unless code is updated. Current ...
Attending ACAMS Conference in Singapore? Tookitaki Awaits You with Its Disruptive AML Solution
“In today’s era of volatility, there is no other way but to re-invent. The only sustainable advantage you can have over others is agility, that’s it.”- Jeff Bezos Singapore is hosting ACAMS’ 11th Annual AML & Financial Crime Conference ...
MAS’ Stress on Transaction Monitoring for Effective AML/CFT Compliance and Machine Learning is the Answer
Singapore is known for its top-notch AML/CFT regime created through up-to-date legislation, stringent policy and uncompromising supervision to safeguard against the abuse of the city state’s financial system for criminal activities. The country’s...
Mifid II and the Pressing Need for a New Reconciliation Approach
The financial services industry in the EU has been confused with the introduction of a revamped version of the Markets in Financial Instruments Directive (Mifid II). The ambitious regulatory reforms that took almost seven years to be materialized wer...
Is Automated Reconciliation Next to Impossible in Today’s Complex Financial World?
The 2008 global financial crisis and fairly new regulatory requirements like Basel III asked financial institutions (FIs) to cut operating costs and adopt a lean operations structure, pushing FIs to rethink on current reconciliation measures. Most of...
Modern Tech to Reshape US AML Compliance with Regulators’ Recent Handshake
George Bernard Shaw once said: “Those who cannot change their minds cannot change anything.” The past week has seen a significant change of mind from financial regulators in the US in their ardent attempt to combat and prevent financial crimes, e...
Skills Development: We Have Talents and We Strive to Multiply Them
“Mastery lies on an infinite continuum, and as a result, we will never reach the end. We can, however, see to it that we are as far along that continuum as our circumstance allows.” ― Chris Matakas Having continuous learning as one of its core...
It’s Our Fourth Founding Day; Taking a Pause to Cherish Our Simple but Awesome Journey
Today, as we step into our 4th year of foundation, I feel proud and honored to be leading Tookitaki that has been successful in creating added value to all its stakeholders. I was never a CEO and Tookitaki is my first company. I had the passion and d...
Tookitaki Expands into the US with New Office in Charlotte
SINGAPORE, Sept. 24, 2018: Tookitaki Holding Pte Ltd, a leading regulatory technology company, is pleased to announce the official opening of its North American office in Charlotte, NC, in the United States. This new location will serve as the comp...
5 Methods That Modern Money Launderers Use To Beat Detection
Society prepares the crime, the criminal commits it. DID YOU KNOW? Every year, an estimated amount in the range of US$800 billion-US$2 trillion (2-5% of global GDP) is being laundered globally Regulators across the globe imposed US$1.7 billion in fin...
Risk Management Conference: Positive Vibes from All Corners
The Risk Management Association’s (RMA) premier annual event, the Risk Management Conference, came to an end on 6 November, and Tookitaki had the privilege to attend the event which we believe was a success in a number of ways. As a modern-era tec...
Singapore Fintech Festival: Tookitaki to showcase advanced machine learning solutions in financial services
Singapore is assured of the Fintech world’s unwavering attention next week, as the city state, is hosting this year’s Fintech Festival during 12-16 November. Touted as the world’s largest platform for the global FinTech community, the event att...
The RMA Clarion Call to Address Risks and the Tookitaki Way
Risk officers, doing your best today is good while preparing hard for tomorrow is extraordinary. Risk management at banks has become difficult due to operational and regulatory changes. The Risk Management Association’s (RMA) premier annual event, ...
MAS’ Stress on Transaction Monitoring for Effective AML/CFT Compliance and Machine Learning is the Answer
Singapore is known for its top-notch AML/CFT regime created through up-to-date legislation, stringent policy and uncompromising supervision to safeguard against the abuse of the city state’s financi...
Singapore Fintech Festival: Tookitaki to showcase advanced machine learning solutions in financial services
Singapore is assured of the Fintech world’s unwavering attention next week, as the city state, is hosting this year’s Fintech Festival during 12-16 November. Touted as the world’s largest platfo...
