Bank of Nevis International Ltd., a leading provider of holistic wealth management and portfolio management services for clients from around the world, has partnered with Singapore-based Tookitaki to become the first Caribbean bank to launch the tech firm’s award-winning Anti-Money Laundering Suite (AMLS).AMLS gives all encompassing gamble inclusion, more honed location, and fundamentally less bogus alarms than heritage monetary wrongdoing discovery frameworks. By utilizing AMLS, BONI is joining other driving banks and FinTechs from across the globe to fabricate dexterous and versatile consistence programs and accomplish new degrees of exactness and speed.
This collective intelligence is the ability of a large group of AFC experts to pool their knowledge, data, and skills in order to tackle complex problems related to financial crime and pursue innovative ideas.The AFC ecosystem is a game changer since it helps remove the information vacuum created by siloed operations. It also provides a platform where financial crime scenarios are shared across an ecosystem through a privacy-protected framework. The network of experts includes risk advisers, legal firms, AFC specialists, consultancies, and financial institutions from across the globe.
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Deji F. Akadiri, VP Fintech & Security, BONI, said: “Current legacy financial crime detection systems are not able to keep pace with emerging compliance challenges, such as sophisticated money laundering techniques and a fragmented regulatory landscape. Tookitaki AMLS enables BONI to harness the power of next-generation technology, including AI learning, to meet rapidly evolving compliance requirements.
Abhishek Chatterjee, CEO and Founder of Tookitaki, commented on the strategic move:” For our customers, the benefits include a streamlined customer experience, a reduction in false positives, significantly quicker onboarding and vetting, and confidence that BONI is using class-leading proven technology that will continue to learn from changing and evolving data.”
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