A Shifting Landscape for Financial Crime
The scale and speed of financial crime are changing. So must our approach to fighting it.
As regulators tighten scrutiny and criminal networks get smarter, financial institutions are expected to do more—with less. Traditional systems can no longer cope with the growing complexity of threats or the volume of transactions flowing across borders and platforms.
With global money laundering estimated at 2–5% of GDP ($800 billion to $2 trillion annually), the cost of getting it wrong is too high. Manual reviews, siloed operations, and reactive detection models are no longer enough.
This is where next-generation AML software—like Tookitaki’s FinCense—steps in. By combining AI, machine learning, and collaborative intelligence, we’re helping financial institutions around the world move from reactive compliance to proactive crime prevention.
Why Legacy Systems Fall Behind
Let’s be honest—traditional AML systems weren’t built for today’s challenges. Here's why they fall short:
- Unmanageable false positives: 90–95% of alerts turn out to be noise
- Slow and reactive: Alerts come after the damage is done
- Disconnected tools: Siloed teams and systems create blind spots
- Static rule sets: Unable to adapt to new laundering techniques
- Scaling issues: Manual reviews can’t keep pace with growing volumes
The result? Rising compliance costs, operational inefficiencies, and a growing trust gap with customers and regulators.
A New Approach: Intelligent, Scalable, Collaborative
Modern AML platforms like FinCense are designed to work smarter—not harder.
Smarter Detection, Faster Decisions
With AI and machine learning, FinCense continuously analyses transaction patterns, behavioural data, and network connections to surface true risks—at scale and in real-time.
- Process billions of transactions in real-time
- Reduce false positives by up to 90%
- Adapt to evolving tactics through machine learning
- Detect complex typologies that static rules miss
Risk Coverage Across the Customer Lifecycle
FinCense offers end-to-end coverage across AML and fraud:
- Onboarding and KYC – Risk-based profiling from day one
- Name and payment screening – Real-time watchlist monitoring
- Transaction monitoring – AI-powered scenario detection
- Customer risk scoring – Dynamic and behaviour-driven
- Case management – Streamlined, auditable investigations
- Regulatory reporting – Ready-to-submit, fully compliant
The Industry Landscape: How Solutions Compare
Several players have emerged in the AML software space, each offering varying capabilities across AI, risk coverage, and scalability. But the differences matter.
Tookitaki sets itself apart with its federated AI approach and collaborative intelligence built into the AFC Ecosystem. It delivers up to 90% false positive reduction, handles over 200 transactions per second, and offers comprehensive coverage across AML and fraud scenarios. This makes it ideal for financial institutions seeking precision, scale, and adaptability.
ComplyAdvantage offers strong AI-driven screening and monitoring capabilities. While it supports high transaction volumes, its strengths are primarily focused on screening, rather than full-spectrum transaction monitoring. It achieves up to 70% false positive reduction, which is notable but still lower than Tookitaki’s benchmark.
Featurespace is recognised for its adaptive behavioural analytics, with a focus on fraud detection. While it supports real-time processing and performs well in identifying anomalous behaviour, its AML capabilities are limited compared to its fraud modules.
NICE Actimize brings proven scalability and a suite of AI-powered models to the table. It supports a broad range of financial crime use cases and delivers up to a 60% reduction in false positives. While robust, its approach does not emphasise collaborative intelligence or community-driven insights.
Quantexa offers a network analytics-driven solution with a focus on entity resolution. It supports both batch and real-time processing and is particularly strong in analysing complex relationships across entities. However, its approach is more network-led than typology-driven.
LexisNexis provides screening and risk-scoring tools with broad regulatory coverage. Its performance and capabilities can vary depending on implementation. It’s a good fit for institutions seeking a regulatory-focused solution but lacks the depth of scenario coverage Tookitaki offers.
What Sets Tookitaki Apart
The secret sauce? The AFC Ecosystem—our community-led compliance network.
Unlike isolated systems, FinCense draws on the collective intelligence of our global AFC community. Participating institutions can:
- Contribute and access anonymised financial crime typologies
- Learn from real-world scenarios vetted by experts
- Stay ahead of emerging threats—together
- Apply ready-to-use detection logic that evolves with the ecosystem
This community-first model transforms AML from a solo effort into a shared defence.
Real Results from Real Institutions
A Traditional Bank in Singapore
- 50% drop in false positives
- 45% lower compliance costs
- Sharper, more actionable alerts
A Digital Bank
- 100% risk coverage from day one
- 50% faster scenario rollout
- Future-ready compliance
A Payment Provider
- 90% false positive reduction
- 70% less effort in scenario tuning
- Scalable, real-time protection
An E-Wallet Platform
- 90% accuracy in high-quality alerts
- 50% faster deployment of new typologies
- Unified AML and fraud operations
What to Look for in AML Software
As the threats evolve, so should your tools. Here’s what matters most:
- Advanced AI/ML – Supervised and unsupervised learning to detect both known and emerging risks
- Real-Time Monitoring – Stop fraud before it happens
- High Scalability – 200+ TPS with no performance trade-off
- Full Coverage – From onboarding to SAR filing
- Explainability – Transparent outputs that regulators trust
- Seamless Integration – Works with your existing systems
Getting It Right: Implementation Matters
A smart rollout makes all the difference:
- Clean data is your foundation
- Phased deployment keeps disruption low
- Team enablement ensures value from day one
- Compliance by design aligns with your regulators
- Continuous optimisation keeps you future-ready
What’s Next for AML?
The future is already taking shape:
1. Gen AI and Large Language Models
Tookitaki’s FinMate is redefining investigations with natural language insights and AI-assisted alert triage.
2. Cross-Border Intelligence Sharing
Secure collaboration across jurisdictions is key to fighting global crime.
3. Behavioural Biometrics
How people interact with systems will become a key signal in fraud detection.
4. Auto-RegTech Integration
Stay compliant with evolving rules—without manual updates.
Final Word: The Trust Layer for Financial Services
AML software isn’t just about compliance anymore. It’s about trust.
Trust in your systems. Trust from your regulators. Trust from your customers.
At Tookitaki, we believe the most resilient institutions will be those that stop viewing AML as a cost—and start seeing it as a strategic advantage.
By bringing together AI, collaborative intelligence, and real-world scenarios, we’re building the trust layer for modern finance—one that protects both consumer confidence and institutional integrity.
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