Singapore Fintech Festival: Showcase of Machine learning solutions

3 mins

Singapore is assured of the Fintech world’s unwavering attention next week, as the city state, is hosting this year’s Fintech Festival during 12-16 November. Touted as the world’s largest platform for the global FinTech community, the event attracted over 30,000 participants from more than 100 countries last year. The organizers look to make the event “bigger and better” this year with events and programs such as the Global FinTech Hackcelerator, Innovation Lab Crawl, FinTech Awards, FinTech Conference & Exhibition, AI in Finance Summit, FinTech Deal Day and Global Investor Summit. Hosted by the Monetary Authority of Singapore in partnership with The Association of Banks in Singapore and in collaboration with SingEx Holdings, the event is expected to have more than 250 well-known global faces from central banks and regulatory agencies, financial institutions, venture capital firms, and Fintech/Regtech companies. Tookitaki is part of MATCH (Meet ASEAN’s Talents and Champions), a platform that curates and matches promising ASEAN enterprises with global private equity and venture capital. The platform is an additional component in this year’s festival. Thought-provoking panel discussions, powerful speeches from renowned people and various collaboration and networking opportunities are some of the perks if you attend the event.

This year’s Festival is looking to strongly propagate ASEAN as a massive, emerging market for FinTech players. It’s also noteworthy that the FinTech Festival closely follows the highly successful Hong Kong FinTech Week that concluded on 2 November. Now, it’s Singapore turn to show its might and influence as a global FinTech hub.

The global Fintech community is excited, and Tookitaki, a leading AI solutions provider for financial services, is equally excited to be part of the event. As an active participant in the festival, we are looking forward to building collaborations, connections and co-creations within the FinTech ecosystem in Singapore and beyond. Insights from esteemed leaders would also help perfect our cutting-edge solutions. Tookitaki is pleased welcome the participants to our booths, where our employees and partners will share our cutting-edge research and innovations designed to address issues in the anti-money laundering and reconciliation spaces. Let’s meet and discuss your thoughts on the path towards a more compliant banking world and the collaboration between banks and RegTech in this era of regulatory complexities and sophisticated financial crime cells. Also, don’t miss our CEO’s thoughts on ‘Explainable AI’ on 14 November from 3 pm to 3:30 pm.

Please meet us at the below locations:

November 12-14

Tookitaki – UOB: Hall 3, Booth No. 3L17

Here, we will be showcasing our Anti-Money Laundering Suite (AMLS) and its performance along with United Overseas Bank (UOB). Tookitaki AMLS is an end-to-end machine learning-powered transaction monitoring and name screening solution, which improves operational efficiency, mitigates the risk of money laundering and reduces the cost of compliance. The solution is tested and proven in a couple of pre-production set ups across regions. During a six-month project employing AMLS, UOB partnered with Tookitaki to co-create AMLS machine learning features. The pilot demonstrated the potential to reduce false alerts by 60% and 50% for individual names and corporate names, respectively. Transaction monitoring saw a 40% drop in false alerts.

November 12-14

Tookitaki – HPE: Hall 3, Booth No. 3G29, Showcase No. 2

Our partnership with Hewlett Packard Enterprise (HPE) dates back to early 2017 and we participated together in many industrial events, including the recently held SIBOS. HPE’s proven track record as a provider of enterprise solutions and services across the globe make the company a right fit for Tookitaki in its promotion of AMLS and Reconciliation Suite (RS), a proven, end-to-end machine learning-powered matching and substantiation solution, which improves quality and efficiency in the investigation process and reduces the cost of reconciliation.

November 14-16

SCB Innovation Lab Crawl: MBFC Office L17

At this location, we will be sharing how we helped Standard Chartered Bank (SCB) deploy our machine learning-powered solution across multiple countries to add more efficiency to the bank’s portfolio management and collection model. Tookitaki had collaborated with SCB in January 2017 and our portfolio management solution prepared for the bank is live in 14 countries.