SINGAPORE (Aug 24): United Overseas Bank (UOB) says it has enhanced its anti-money laundering (AML) surveillance abilities with an integrated solution that enables the bank’s existing AML systems to make sharper, smarter and swifter detection of high-risk individuals & companies and suspicious activities.

This is essential given the volume, value and velocity of transactions that flow through UOB’s systems, says the bank in a press release on Friday.

The bank’s enhancement to its AML systems comes as a result of a recent collaboration with local regulatory technology (regtech) company Tookitaki Holding, says UOB, which saw the co-creation of a number of machine learning features for Tookitaki’s solution, Anti-Money Laundering Suite (AMLS).

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