Home AML AML Softwares UOB, Tookitaki team up on machine learning to fight money laundering

UOB, Tookitaki team up on machine learning to fight money laundering

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August 24, 2018

UNITED Overseas Bank (UOB) and Singapore-based regulatory technology startup Tookitaki Holding are partnering to apply machine learning technology toward anti-money laundering efforts.

As part of the initiative, UOB is enhancing Tookitaki’s Anti-Money Laundering Suite (AMLS) with co-created machine-learning features that will allow the AMLS product to conduct deeper and broader analyses of any set of data for greater accuracy beyond the existing rules-based systems, UOB said. The bank said that the integrated solution will allow it to better detect high-risk individuals and companies and suspicious activities.