Tookitaki offers a financial crime prevention platform that utilizes a Federated AI Approach to enhance the detection and prevention of money laundering and fraud across billions of transactions. By integrating real-time transaction monitoring, customer due diligence, and automated reporting, the platform significantly reduces false positives by up to 90% and ensures comprehensive compliance for banks and fintech companies.
Funding
Funding not disclosed
TGFounders
Product
Problem
Financial institutions face increasing challenges in combating financial crime, including money laundering and fraud, due to the rising volume and complexity of transactions. Traditional rule-based systems often generate high false positive rates, leading to inefficiencies and increased operational costs for compliance teams.
Solution
Tookitaki offers an AI-powered anti-financial crime (AFC) platform, FinCense, that enhances the detection and prevention of money laundering and fraud. The platform uses a Federated AI approach, leveraging collaborative intelligence from a network of financial institutions to provide comprehensive risk coverage. By integrating onboarding, screening, transaction monitoring, fraud prevention, and dynamic risk scoring into a single solution, Tookitaki enables real-time compliance and reduces false positives. The platform automates investigation and reporting, streamlining compliance operations and reducing regulatory risks for banks, digital banks, e-wallets, payment platforms, and lending institutions.
Target Audience
Tookitaki primarily serves banks, digital banks, e-wallets, payment platforms, and lending institutions seeking to enhance their financial crime prevention capabilities and ensure regulatory compliance.
Features
- AI/ML-driven transaction monitoring that processes over 200 transactions per second (TPS)
- Real-time fraud prevention across 50+ fraud scenarios, including account takeovers and money mules
- Smart screening capabilities for names and payments
- Dynamic risk scoring for enhanced customer due diligence (CDD)
- Smart alert management and case manager for efficient investigation and reporting
- AFC Ecosystem that leverages community-driven intelligence for up-to-date defense mechanisms
- Comprehensive AML coverage from onboarding to offboarding
- 90% reduction in false positives