Tonik Partners with AML Service Provider Nice Actimize 

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.


Nice Actimize AML Essentials Chosen by TONIK to Support Launch of its Digital Banking Platform

February 22, 2020

Tonik Nice Actimize, a New Jersey headquartered Anti Money Laundering and Financial Crime Prevention/Management service provider revealed its partnership with a new client in an official announcement recently.

As per the statement released by the firm, the Autonomous Financial Crime Management service provider has been selected by Tonik – a South East Asia based pure-play digital bank as its fraud prevention measures partner. The Singapore headquartered digital bank plans to implement Nice Actimize’s essential anti-money laundering solutions in its bid to create a secure environment for its new client base.

The Singapore based bank had recently received official approval from the Philippines to establish a fully regulated bank as part of its global expansion efforts and hopes to expand its client base in South East Asian market via its approach to revolutionize and transform banking process in its digital banking venture.

Tonik is one of the leading and first digital-only banks in the market region which provides a wide range of retail financial products and services under single banners such as deposits, loans, current accounts, payments and cards. Tonik has opted for Nice Actimize’s AML Essentials – a cloud-based offering which was created using the firm’s proven end to end anti-money laundering platform to particularly focus on addressing challenges of digital transformation and online banking environment.

The cloud-based product package consists of Transaction Monitoring, Customer Due Diligence and Sanctions Screening Capabilities and leverages on the Nice Actimize’s enterprise solution to offer rapid deployment at a lower total cost of ownership while still ensuring reduced overhead to make compliance easier.

Nice Actimize is a wholly-owned subsidiary of Nice – a leading multinational provider of both cloud and on-premises enterprise software solutions aimed at empowering its clients to make smarter decisions based on advanced analytics of structured and unstructured data.

Commenting on this partnership, Greg Krasnov- CEO & Founder of TONIK said, “We are pleased to partner with industry-leader NICE Actimize to support our launch of the first pure-play neobank digital platform in the Philippines. We believe that digital banking is capable of operating on a higher level of financial compliance than traditional banks, and our partnership with NICE Actimize is strongly indicative of the higher standard of trust, reliability and compliance that we intend to foster in the digital banking space across Southeast Asia”. 

Speaking on the same note, Craig Costigan – CEO of NICE Actimize said, “As digital banking becomes more widely accepted, regulators continue to examine compliance rules for this new banking channel. We look forward to providing TONIK with the necessary support to address the changing requirements that it may face throughout the region. As innovators such as TONIK bring much-needed banking services to the Philippines and beyond throughout Southeast Asia, NICE Actimize looks forward to launching its cloud-based anti-money laundering solutions in support of its secure digital banking platform”. 

For additional information on NICE Actimize’s Essentials Anti-Money Laundering solutions, please click here.

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