Mindtree has partnered with Tookitaki’s machine-learning- powered platform to use artificial intelligence and machine learning technology. With these services, it aims to help banks improve their ability to detect financial crimes and enhance reconciliation management.
Banks and other financial institutions are challenged by both the rising sophistication of financial crimes worldwide and increasingly complex regulations requiring strict operating and reporting standards. To address these challenges, Mindtree and Tookitaki are now offering these services:
- Smart Alert Management
- Smart Reconciliation Management
“There is a compelling need for banks today to automate many traditionally manual, intensive, error-prone tasks,” said Kamran Ozair, Executive Vice President and Head of Banking, Financial Services and Insurance at Mindtree. “This partnership combines Tookitaki’s predictive modeling capabilities and Mindtree’s deep expertise in helping enterprise clients capitalize on artificial intelligence and machine learning to help banks run their business more efficiently.”
“Rapid development in artificial intelligence and robotics technologies has brought in massive adoption of automated technologies across industries,” says Abhishek Chatterjee, Founder and CEO of Tookitaki. “For banks especially, who are dealing with strict regulations and little room for error, automation can drive quality, productivity and profitability. Our partnership with Mindtree has made it easier and more efficient for customers in the financial services industry to introduce artificial intelligence and machine learning capabilities into the critical space of regulatory compliance.”