SINGAPORE, Aug. 7, 202 – Tookitaki, a trusted leader in the anti-money laundering space, announced the launch of its Compliance-as-a–Service (CaaS) solution for small and mid-size financial institutions globally. This innovative SaaS offering, optimised for cost and efficiency, gives financial institutions (FIs) access to Tookitaki’s flagship compliance solution – the Anti Money Laundering Suite (AMLS) on a secure, self-service platform.
It is a flexible, pay-as-you-go solution that scales horizontally, delivering high reliability and performance for rapid growth. The service includes industry-standard certifications spanning risk, security, and data privacy, such as SOC2, substantially reducing the dependency on internal IT.
Mr Abhishek Chatterjee, Founder and CEO of Tookitaki, stated, “Tookitaki has a proud legacy of supporting both traditional banks and large fintech enterprises with our cutting-edge AML solution. The launch of our Compliance-as-a-Service solution is a significant step in making AMLS more accessible. This SaaS model allows fast-growing fintechs to get to market sooner, and future-proof their financial crime mitigation strategies with regular updates.”
The head of compliance at one of the largest e-wallet players has remarked that Tookitaki’s CaaS solution is an excellent fit for them as it is lightweight, scalable and offers full risk coverage, along with a predictable low-cost footprint.
About Tookitaki
Tookitaki is a global name in the world of anti-financial crime. It pioneered the concept of fighting financial crime through an ecosystem or a community-based platform, where patterns on money laundering, and terrorist financing are shared by industry veterans on a continuous basis. Titled the Anti-Financial Crime (AFC) ecosystem, it helps any financial institution to learn, share and use typologies to counter emerging FinCrime patterns and stay safe and secure. Built on a federated learning framework, the AFC ecosystem powers the flagship compliance solution AMLS to detect quality alerts, ensuring effectiveness and efficiency in AML programs.
