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Customer Due Diligence (CDD) for Banks and Fintech Companies
Customer Due Diligence (CDD) for Banks and Fintech CompaniesBanks and fintech companies must conduct customer due diligence (CDD) to collect and evaluate relevant information about a customer or potential customer. CDD helps businesses protect themselves from fraud, money laundering, and other illegal activities. By knowing their customers and analysing information about them obtained from a variety of sources, businesses can avoid doing any business with high-risk individuals or groups. CDD programmes are necessary for financial institutions to mitigate risk and CDD checks will help prevent them from doing business with risky customers.What you will learn from this guide:The meaning of CDD The importance of CDDCDD methods How financial institutions can build an effective CDD programmeHow technology can enhance CDD process
Our Thought Leadership Guides
Powering the Next-Gen of AML Technology with AI
This Tookitaki report elucidates how our solution complements the existing rules-driven primary system for easy operationalisation.Download our whitepaper to understand:The challenges arising from incremental adjustments to existing systems and current alerts management processesThe criticality of smart alert management to augment efficiency and effectiveness in AML processesThe framework to operationalize an AI-driven transaction monitoring solution into existing financial crime prevention ecosystemsUse cases to validate the productivity gains and returns FIs have garnered when the solution was deployed in productionThe example of a Tier-1 bank that saved over US$1 million through enhanced productivity in the alert management process.
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The Paypers Financial Crime and Fraud Report 2023
The Paypers Financial Crime and Fraud Report 2023This report, brought to you by The Paypers, gathers the brightest minds in the industry to explore challenges, opportunities, and best practices in combating financial crime and fraud.Within the report, Tookitaki Founder and CEO Abhishek Chatterjee explains the trends he has spotted permeating the financial crime landscape in South-East Asia in the last 12 months. He also reveals how Tookitaki’s two innovative platforms i.e., AFC Ecosystem and AML Suite, are revolutionising the fight against fincrime by promoting a collaborative, community-based approach to prevention.
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The Role of Anti-Money Laundering Software in AML Compliance
The Role of Anti-Money Laundering Software in AML ComplianceAn anti-money laundering software (AML software) is a technology solution that helps financial institutions and other regulated entities to prevent, detect and report money laundering and related crimes in compliance with the requirements of regulators.Financial institutions use anti-money laundering software solutions as part of a broader AML compliance programme. These solutions are implemented taking into account each financial institution’s unique AML risk profile. Anti-money laundering software solutions are valuable tools for institutions worldwide in the fight against financial crime as they facilitate faster and more accurate compliance and investigations.AML tools help financial institutions implement their AML programmes, which involve many diverse processes. The processes ensure that a customer’s profile and financial behaviour are not against the AML laws of the land. Broadly, AML software solutions increase the effectiveness and efficiency of these processes.AML software solutions help financial institutions to stop doing business with high-risk people and entities, prevent or detect suspicious activities in their platforms, reduce false positives in workflows and assist in reporting suspicious activities and transactions.
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Powering the Next-Gen of AML Technology with AI
This Tookitaki report elucidates how our solution complements the existing rules-driven primary system for easy operationalisation.Download our whitepaper to understand:The challenges arising from incremental adjustments to existing systems and current alerts management processesThe criticality of smart alert management to augment efficiency and effectiveness in AML processesThe framework to operationalize an AI-driven transaction monitoring solution into existing financial crime prevention ecosystemsUse cases to validate the productivity gains and returns FIs have garnered when the solution was deployed in productionThe example of a Tier-1 bank that saved over US$1 million through enhanced productivity in the alert management process.
The Paypers Financial Crime and Fraud Report 2023
The Paypers Financial Crime and Fraud Report 2023This report, brought to you by The Paypers, gathers the brightest minds in the industry to explore challenges, opportunities, and best practices in combating financial crime and fraud.Within the report, Tookitaki Founder and CEO Abhishek Chatterjee explains the trends he has spotted permeating the financial crime landscape in South-East Asia in the last 12 months. He also reveals how Tookitaki’s two innovative platforms i.e., AFC Ecosystem and AML Suite, are revolutionising the fight against fincrime by promoting a collaborative, community-based approach to prevention.
The Role of Anti-Money Laundering Software in AML Compliance
The Role of Anti-Money Laundering Software in AML ComplianceAn anti-money laundering software (AML software) is a technology solution that helps financial institutions and other regulated entities to prevent, detect and report money laundering and related crimes in compliance with the requirements of regulators.Financial institutions use anti-money laundering software solutions as part of a broader AML compliance programme. These solutions are implemented taking into account each financial institution’s unique AML risk profile. Anti-money laundering software solutions are valuable tools for institutions worldwide in the fight against financial crime as they facilitate faster and more accurate compliance and investigations.AML tools help financial institutions implement their AML programmes, which involve many diverse processes. The processes ensure that a customer’s profile and financial behaviour are not against the AML laws of the land. Broadly, AML software solutions increase the effectiveness and efficiency of these processes.AML software solutions help financial institutions to stop doing business with high-risk people and entities, prevent or detect suspicious activities in their platforms, reduce false positives in workflows and assist in reporting suspicious activities and transactions.