Tookitaki launches Anti Money Laundering Suite on a pay-as-you-go basis

Rick Steves

“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.”

Tookitaki has announced the launch of its Compliance-as-a–Service (CaaS) solution for small and mid-size financial institutions globally.

The provider of anti-money laundering solutions has come up with its SaaS offering, optimized for cost and efficiency, to give financial institutions (FIs) access to Tookitaki’s flagship compliance solution – the Anti Money Laundering Suite (AMLS) on a secure, self-service platform.

Catering to universal banks such as UOB, regional banks, digital-only banks, e-wallets, and payment companies, including global front-runners like Tencent, Tookitaki is now delivering its AMLS solution on a SaaS model – a pay-as-you-go solution that scales horizontally, delivering reliability and performance for rapid growth.

“This SaaS model allows fast-growing fintechs to get to market sooner”

The CaaS solution delivers complete risk coverage across screening, transaction monitoring, and customer risk scoring, and comes with standardized payload specifications, and APIs for seamless integration.

Financial institutions are able to go live with Tookitaki’s CaaS in two weeks and also leverage pre-packaged watchlist data for screening in addition to existing watchlist data that they have.

The Compliance-as-a–Service (CaaS) solution features industry-standard certifications spanning risk, security, and data privacy, such as SOC2, substantially reducing the dependency on internal IT.

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.”

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