PayMongo Philippines Inc. has invested in the anti-money laundering software developed by Singapore-registered Tookitaki Holding Pte. Ltd. to enhance its risk management and compliance capabilities.
The move will align PayMongo with the standards set by the Bangko Sentral ng Pilipinas.
The implementation of Tookitaki’s product is expected to enable PayMongo to identify and manage suspicious transactions efficiently and stay compliant with evolving regulatory requirements, ensuring the safety and trust of its customers.
Tookitaki’s CEO, Abhishek Chatterjee, highlighted the collaborative nature of their anti-financial crime ecosystem and the utilization of machine-learning technology in their software to stay ahead of financial criminals.
