Tookitaki expands community-led financial crime prevention platform with FinCense to India

BENGALURU, India, 26 August 2024 /PRNewswire/ — Tookitaki, a global leader in anti-financial crime technology, is set to revolutionize the Indian financial sector with the launch of its groundbreaking FinCense platform. Designed for both fintech and traditional banks, FinCense is one of the smartest financial crime prevention platforms, providing Indian financial institutions with a powerful tool to stay ahead of evolving threats.

FinCense's uniqueness 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 leverage the expertise of a global and rapidly growing community of financial crime experts as a force multiplier. FinCense is trained on real-world crime scenarios from the AFC ecosystem, enabling it to identify and notify institutions of unique financial crimes that are often missed using traditional methods.

The AFC ecosystem already equips financial institutions in India with insights into emerging fraud and AML threats. With compliance costs rising, the AFC ecosystem offers a more efficient and collaborative approach that reduces the burden on compliance teams while ensuring comprehensive risk coverage.

“The uniqueness of our platform lies in its ability to leverage the collective intelligence of the AFC ecosystem,” said Abhishek ChatterjeeFounder and CEO of Tookitaki. “Our success in the ASEAN markets has proven the power of a community-led model. We have ensured that FinCense meets RBI regulatory requirements and brings the most cutting-edge technology to the Indian market,” added Mr. Chatterjee.

Tookitaki also plans to introduce its advanced local LLM-powered AI investigation copilot FinMate in the Indian market. This Gen-AI model provides investigators with real-time insights and deep investigations with high accuracy.

By combining cutting-edge technology with the collective intelligence of the AFC ecosystem, FinCense offers a revolutionary approach to compliance and positions Tookitaki as a leader in the fight against financial crime in India.

About Tookitaki

Tookitaki is a global name in the world of fighting financial crime. Its flagship product FinCense serves leading financial institutions worldwide. FinCense is the most intelligent fraud prevention platform, distinguished by its innovative federated AI approach. This groundbreaking method uses collective intelligence-based AI to protect against financial crime. FinCense provides end-to-end compliance, from onboarding to ongoing due diligence. Its modern data engineering ensures real-time responsiveness and superior performance, delivering higher throughput, security and availability.

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