Tookitaki has launched its Compliance-as-a-Service (CaaS) solution, aimed at providing small and mid-size financial institutions with cost-effective access to their Anti Money Laundering Suite (AMLS). This SaaS offering is designed to enhance efficiency and ease of use for financial institutions globally. Key features of this solution include:
- Trusted AML Solution: Tookitaki’s AMLS is a well-regarded anti-money laundering solution used by leading universal banks, regional banks, digital-only banks, e-wallets, and payment companies, including global giants like Tencent.
- Complete Risk Coverage: The CaaS solution offers comprehensive risk coverage across areas such as screening, transaction monitoring, and customer risk scoring.
- Rapid Deployment: With standardized payload specifications and APIs for seamless integration, financial institutions can go live within two weeks, which is especially beneficial for fast-growing fintech companies.
- Data Integration: Financial institutions can utilize pre-packaged watchlist data for screening in addition to their existing watchlist data.
- Scalability: The solution is flexible and operates on a pay-as-you-go model. It can scale horizontally to accommodate the needs of rapidly growing institutions.
- Security and Compliance: The service comes with industry-standard certifications for risk, security, and data privacy, such as SOC2, reducing the reliance on internal IT infrastructure.
- Accessibility: The CaaS model makes AMLS more accessible, allowing fintechs to enter the market more quickly and future-proof their financial crime mitigation strategies with regular updates.
About Tookitaki
Tookitaki’s Compliance-as-a-Service solution appears to offer a lightweight, scalable, and cost-effective option for financial institutions looking to enhance their anti-money laundering and financial crime mitigation efforts. It is designed to meet the needs of smaller and mid-size institutions and help them stay compliant while reducing operational overhead.