AEON Digital Bank Joins Hands with Tookitaki to Fight Financial Crime

Tookitaki is proud to partner with AEON Bank (M) Berhad,  Malaysia's first Islamic digital bank,  to fight financial crime jointly. The bank received authorisation to commence operations in January 2024 and has chosen Tookitaki’s FinCense for continuous protection against screening lapses,  money laundering and fraud.

Malaysia has robust compliance controls that align with the FATF 40 Recommendations. Bank Negara Malaysia (BNM) has introduced stringent measures to curb new financial crime risks,  such as multiple parties involved in loans or high-volume transactions driven by digital platforms,  including social media. AEON Bank, which serves the younger generation and micro and small businesses, recognises these challenges and chose Tookitaki for unmatched risk coverage.

"Malaysia's fintech industry is expected to grow at a 15% CAGR over the next five years, bringing rapid change to the country’s financial services industry. We admire our partner AEON Bank’s vision to foster growth through financial inclusion," said Tookitaki Founder & CEO, Abhishek Chatterjee. "Tookitaki remains committed to empowering its partners with the right technology and knowledge to fight financial crime," added Mr Chatterjee.

Tookitaki's strategic alliance with AEON Bank signifies a major stride in elevating compliance standards and strengthening the integrity of Malaysia’s financial system.

About AEON Digital Bank

AEON Bank (M) Berhad is Malaysia's first Islamic digital bank, jointly owned by AEON Financial Service Ltd. and AEON Credit Service (M) Berhad,  subsidiaries of Japan's AEON Group. With a robust growth track record, AEON Bank strengthening its commitment to innovation and financial inclusion.

About Tookitaki

Tookitaki is a global leader in the world of anti-financial crime. Its flagship product,  FinCense,  serves leading financial institutions worldwide. FinCense is the most intelligent fraud prevention platform,  distinguished by its innovative Federated AI approach. This pioneering method leverages collective intelligence-based AI to protect against financial crime. FinCense offers end-to-end compliance,  from onboarding to ongoing due diligence. Its modern data engineering assures real-time responsiveness and superior performance,  ensuring higher throughput,  security and availability.