AMLS provides holistic risk coverage, sharper detection, and significantly fewer false alerts than legacy financial crime detection systems. By using AMLS, BONI is joining other leading banks and FinTechs from across the globe to build agile and scalable compliance programmes and achieve new levels of accuracy and speed.
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.
“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.”
Abhishek Chatterjee, CEO and Founder of Tookitaki, commented on the strategic move: “We are beyond thrilled to extend our partnership landscape in the LATAM region and collaborate with BONI, facilitating their digitalization journey with our cutting edge AMLS solution. With our highly reliable and customizable solutions, Tookitaki is perfectly positioned to protect customers from financial crime losses.”
Tookitaki pioneered the first-of-its-kind community-driven Anti-Financial Crime (AFC) Ecosystem that includes a network of experts and provides a platform for the experts to create a knowledge base to share financial crime scenarios. 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.
Acting as a financial gateway to the rest of the world, BONI is truly global in its approach connecting clients with international financial centres and markets. Representing the Caribbean at the top table of banking and financial services, BONI is ideally suited to help clients achieve their global ambitions, safeguard their futures and meet their exacting needs as an independent financial centre.
BONI has a strong repeat client base which has been a result of the team’s inclusive and diverse approach at every level in order to win for its clients. BONI was incorporated under the Nevis Companies Ordinance, Cap 7.06 of the laws of St. Christopher and Nevis, on April 29th, 1998. BONI is regulated by the 2014 Nevis International Banking Ordinance (NIBO) and is registered with the US Treasury Department as a Foreign Financial Institution (FFI) for FATCA reporting purposes.
Designed on three C-principles – comprehensive, convenient, and compliant Tookitaki’s AML solution empowers financial institutions to strengthen their risk coverage and mitigate risks seamlessly in the ever-evolving world of regulatory compliance.
Tookitaki’s Anti-Money Laundering Suite (AMLS) covers the entire customer onboarding and ongoing processes through its Transaction Monitoring, Smart Screening, Customer Risk Scoring, and Case Manager. Together they provide holistic risk coverage, sharper detection, and significant effort reduction in managing false alerts.
Tookitaki’s innovations in regulatory compliance have been acknowledged worldwide. Chartis Research named the company a Rising Star in its 2021 RiskTech 100 report. In 2020, the company won the Regulation Asia Awards for Excellence and G20TechSprint accelerator.