Thunes takes majority stake in anti-money laundering tech firm

The global payments firm is investing $20m.

Singapore-based global payments firm Thunes has taken a majority stake in the anti-money laundering (AML) and compliance technology firm, Tookitaki Holding Pte Ltd to the tune of $20m.

Adding Tookitaki to Thunes’ global network addresses an urgent need for payments and other financial institutions to embed automated, streamlined compliance processes, decreasing risks and reducing overall costs. 

Thunes is able to extend Tookitaki’s industry-leading compliance and anti-money laundering (AML) capabilities to further safeguard the businesses and create more transparency around the payment flows of its global customers. Its customers include gig economy platforms Grab, Deliveroo, UberEats; Digital money transfer operators Moneygram, Western Union, and Remitly; neobank Revolut; and fintech and mobile wallets Paypal, Singtel Dash, M-PESA, and Airtel. The company tracks over 180 million transactions annually. 

“We are very excited to have Tookitaki join us. This alliance will give all Thunes customers access to next-generation tech compliance systems, reducing the cost of transferring money across borders. At the same time, all Tookitaki’s banking and fintech clients will automatically gain access to Thunes’ network, unlocking pathways to scale globally. We’ve already identified multiple ways to grow faster together, increasing the value we provide to our customers. We’ll be working to accelerate our growth plans jointly,” said Peter De Caluwe, CEO of Thunes. 

Singapore-based Tookitaki was founded in November 2014 and employs over 100  people across Asia, Europe, and the US. It delivers AML and compliance solutions to some of the world’s leading banks and financial institutions, using Big Data and machine learning (ML) technologies.
 

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