The latest technology news from fintechs, banks and other organisations.
Hewlett Packard, Tookitaki
Hewlett Packard Enterprise is teaming up with Singapore-based compliance tech firm Tookitaki to provide a new offering designed for banks and financial institutions across the Asia-Pacific region. The first major local bank to use the firms’ solution is UOB.
The new offering delivers Tookitaki’s artificial intelligence-powered anti-money laundering solution that uses HPE GreenLake for Big Data.
The new solution enables financial institutions to create a central big data platform that can perform AML data analytics. It is an example of AI tech being used to handle the laborious data management involved in screening out potentially dirty money.
UOB has signed up to the product, using it to handle two types of anti-money laundering requirements – monitoring transactions and screening names. UOB screens 60,000 account names monthly using this technology.
HPE and Tookitaki said they are ready to work with other banks and financial institutions across Asia.
“By complementing Tookitaki’s expertise in regulatory compliance with our data analytics platform and our as-a-service offering, HPE GreenLake, we are able to seamlessly bring real-world AI solutions that can yield business outcomes to our financial institution customers across the region,” Khai Peng Loh, Hewlett Packard Enterprise’s general manager of Asia-Pacific Solution Sales, said.