Tookitaki Expands Community-Led Financial Crime Prevention Platform to India with FinCense
BENGALURU, India, Aug. 26, 2024 /PRNewswire/ — Tookitaki, a global leader in anti-financial crime technology, is set to revolutionise the Indian financial sector by introducing its groundbreaking FinCense platform. Designed for both fintech and traditional banks, FinCense stands out as one of the most intelligent financial crime prevention platforms, offering Indian financial institutions a powerful tool to stay ahead of evolving threats.
The uniqueness of FinCense lies in its ability to provide complete risk coverage by leveraging the collective knowledge and experience of the Anti Financial Crime (AFC) Ecosystem. The AFC Ecosystem enables financial institutions to tap into the expertise of a global and fast-growing community of financial crime experts as a force multiplier. FinCense is trained on real-world crime scenarios of the AFC Ecosystem, enabling it to detect and notify institutions of unique financial crimes that traditional methods often miss.
The AFC Ecosystem is already equipping financial institutions in India with insights into emerging fraud and AML threats. As compliance costs soar, the AFC Ecosystem offers a more efficient and collaborative approach, thereby reducing the burden on compliance teams while ensuring comprehensive risk coverage.
“Our platform’s uniqueness lies in its ability to harness the collective intelligence of the AFC Ecosystem,” said Abhishek Chatterjee, Founder and CEO of Tookitaki. “Our success in ASEAN markets, has demonstrated the power of a community-led model. We have ensured that FinCense aligns with the regulatory requirements of the RBI and brings the most cutting-edge technology to the Indian market,” added Mr Chatterjee.
Tookitaki is also keen to introduce its advanced local LLM-powered AI investigation copilot, FinMate, to the Indian market. This Gen AI model provides investigators with real-time insights and in-depth investigations with high accuracy.
By combining cutting-edge technology with the collective intelligence of the AFC Ecosystem, FinCense offers a revolutionary approach to compliance, positioning Tookitaki as a leader in the fight against financial crime in India.
About Tookitaki
Tookitaki is a global name in the world of anti-financial crime. Its flagship product FinCense serves leading financial institutions globally. FinCense is the most intelligent fraud prevention platform, distinguished by its innovative Federated AI Approach. This pioneering method leverages collective intelligence-based AI to protect against financial crime. FinCense offers end-to-end compliance, from on-boarding to ongoing due diligence. Its modern data engineering assures real-time responsiveness and superior performance, ensuring higher throughput, security, and availability.
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