Tookitaki, a Singapore-based regulatory technology company, has been selected as one of the World Economic Forum’s (WEF) Technology Pioneers for its innovative solution, the Anti-Money Laundering Suite (AMLS). The organisation is headquartered in Singapore with offices in the US and India and is backed by institutional investors – Jungle Ventures, Illuminate Financial and Enterprise Singapore.
AMLS takes care of two core compliance functions – transaction monitoring and name screening. Transaction monitoring helps banks identify and report suspicious transactions for investigation, while name screening enables them to identify high-risk individuals and entities.
The WEF’s Technology Pioneers are early- to growth-stage companies that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society. The Technology Pioneers were selected by a selection committee of more than 59 academics, entrepreneurs, venture capitalists and corporate executives. The committee based its decisions on criteria including innovation, potential impact and leadership.