Tookitaki ’s flagship Anti Money Laundering Suite (AMLS) has been rebranded to FinCense. This is an effort to better represent the enhanced capabilities of its compliance platform to address both fraud and AML risks.
It has reshaped the compliance landscape, prompting leading financial institutions to seek a unified solution. Abhishek Chatterjee, Founder and CEO of Tookitaki, said the AMLS has been rebranded to FinCense because it can sense finance suspicious patterns.
“Our transition from AMLS to FinCense signifies more than a name change. It marks a pivotal advancement in compliance solutions available in the market. By merging fraud and AML prevention into a single, powerful solution, we enable financial institutions to capitalize on the synergy to improve detection rates, reduce operational costs, and prevent fraud in real time.
Chatterjee added that FinCense fosters collaboration between fraud and AML prevention, with a comprehensive platform adept at handling both domains’ complexities. It recognizes the unique intricacies of cross-border payments and their susceptibility to both fraud and AML risks.
FinCense has been carefully crafted to provide real-time protection for domestic and cross-border payment companies. FinCense is built for scale by processing billions of transactions with high throughput at 200 TPS for real-time fraud prevention. It serves the world’s leading financial institutions in 11 countries across Asia, the Middle East, Africa, and the Americas to detect and prevent financial crime.
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