Morabaha Marina partners with Tookitaki for innovative AML capabilities

Monday 4 September 2023 10:41 CET | News

Fraud prevention company Tookitaki has teamed up with finance provider Morabaha Marina to augment the latter’s AML compliance management capabilities.


Morabaha Marina Financing offers innovative financing solutions to individuals and small and medium enterprises within Saudi Arabia. The company's commitment to fostering reliable financing partnerships aligns seamlessly with Tookitaki's advanced technology-driven approach to financial crime prevention.

Tookitaki has teamed up with finance provider Morabaha Marina to augment the latter’s AML compliance management capabilities.

Officials from Morabaha said that partnering with Tookitaki was a strategic decision to strengthen their AML compliance framework and provide more secure and efficient financing solutions to their customers. Tookitaki's comprehensive suite of solutions, including transaction monitoring, smart screening, dynamic risk scoring, and case manager, aligns with their goals of achieving regulatory compliance, operational efficiency, and customer-centric financial services.

Also commenting on this partnership, Abhishek Chatterjee, Founder and CEO at Tookitaki, stated that they are excited to join forces with Morabaha and support their mission of delivering innovative financing solutions while ensuring regulatory compliance and robust risk management. Their AML solutions will enable Morabaha to efficiently monitor transactions, conduct thorough screenings, and streamline customer risk assessments. This partnership exemplifies their commitment to driving financial institutions toward a safer and more secure future.

Previous news from Tookitaki

In August 2023, Tookitaki has announced the launch of its Compliance-as-a–Service (CaaS) solution for small and mid-size financial institutions (FIs) globally. The company’s AMLS is adopted by a wide range of financial institutions, including universal banks like UOB, regional banks, digital-only banks, e-wallets, and notable companies like Tencent. 

This Compliance-as-a-Service solution offers comprehensive risk management across screening, transaction monitoring, and customer risk scoring. It features standardised payload specifications and APIs for easy integration, allowing financial institutions to go live within two weeks. Moreover, it provides access to pre-packaged watchlist data for screening, and it's a flexible pay-as-you-go solution that can scale horizontally for increased reliability and performance. The service also comes with industry-standard certifications like SOC2, reducing the need for internal IT support.

What does Tookitaki do?

Tookitaki is specialises in anti-financial crime. It pioneered the concept of fighting financial crime through an ecosystem or a community-based platform, where patterns of financial crime are shared by industry veterans on a continuous basis. The Anti-Financial Crime (AFC) ecosystem helps any financial institution learn, share, and use typologies to counter emerging FinCrime patterns and stay safe and secure. Built on a federated learning framework, the AFC ecosystem powers the flagship compliance solution Anti-Money Laundering Suite (AMLS) to detect quality alerts, ensuring effectiveness, and efficiency in AML programmes.

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Keywords: AML, fraud prevention, financial crime, compliance, financing
Categories: Fraud & Financial Crime
Companies: Tookitaki
Countries: Saudi Arabia
This article is part of category

Fraud & Financial Crime


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