ThetaRay News
30 articles
growth-positive
ThetaRay Revolutionizes AI Financial Crime Detection with Screena Acquisition
ThetaRay, a leading provider of AI-powered financial crime detection technology, has announced the acquisition of European screening company, Screena. This acquisition is part of ThetaRays continuous investment in proprietary technology and its mission to enable banks, fintechs, and regulators to detect financial crime with state-of-the-art AI solutions. Screenas technology screens individuals, companies, or other entities against numerous lists of sanctioned parties, ensuring compliance with international law and regulations. The acquisition will provide financial institutions with a holistic view of transactional and customer screening risks.
AcquisitionCustomersPartnersInvestment
growth-positive
ThetaRay raises $57 million for AI-powered global payments solutions | CTech
ThetaRay, an Israeli startup that develops AI-powered secure global payments solutions, has raised $57 million in a growth round led by Portage, with participation from existing investors JVP, OurCrowd and others. The company, which has offices in New York, Madrid, London, Dubai and Tel Aviv, recently promoted Peter Reynolds from Chief Revenue Officer to CEO. ThetaRays cloud-based transaction monitoring and screening solution uses AI technology to monitor financial transactions and establish trusted transactions. The companys customers include Santander, Travelex, Mashreq Bank, MFS Africa and ClearBank.
InvestmentManagement ChangesCustomers
growth-positive
ClickSendNow partners with AI pioneer ThetaRay - Ventureburn
South African fintech company ClickSendNow has announced a strategic partnership with ThetaRay, a leader in AI-powered transaction monitoring technology. ClickSendNow plans to integrate ThetaRay’s SONAR platform to enhance its automated transaction monitoring and sanction screening operations. The integration will help ClickSendNow tackle financial fraud and money laundering, allowing the company to continue its rapid growth while ensuring security. ThetaRay’s technology is known for reducing false positive alerts by up to 90% and cutting analyst time in half.
PartnersExpand
growth-positive
ThetaRay receives Microsoft Cloud Solution Provider status
ThetaRay, an Israel-based Big Data analytics provider, has made its AI-based transaction monitoring solution SONAR available on Microsoft Azure Marketplace. The cloud-based SaaS system allows banks and fintechs to grow their business while complying with global regulators and reducing risk. The technology, which monitors over 15 billion transactions per year, includes advanced machine learning already in use globally. As part of its status as Microsoft Cloud Solution Provider, ThetaRay’s SONAR solution is now available through the Microsoft Azure Marketplace.
CustomersPartners
growth-positive
ThetaRay מסיימת שנה עם גידול של 260% בהכנסות וממנה את ערן פישוב לסמנכ"ל Customer Succuss - וואלה! כסף
ThetaRay, a leading provider of AI-based transaction monitoring technology for banks and fintech companies, announced that it ended 2022 with a growth of 260% and appointed Eran Fishov as the new VP for Customer Success. The move is aimed at maximizing the companys momentum and increasing its global market share. Fishov, who brings over two decades of experience in the field of Customer Success, will lead relationships with major customers, leveraging his experience in building value-based long-term relationships.
Management Changes
Noda Chooses ThetaRay AI Solution to Monitor Open Banking Services
Divilo Selects ThetaRay AI Solution to Monitor Global Payments for Financial Crime
Dubai-based NOW Money Selects ThetaRay AI Tech to Prevent Financial Crime on the Inclusive Banking App
Growth-Positive
ClearBank Selects ThetaRay AI Monitoring Tech to Accelerate Business Growth
ClearBank, the UKs largest next-generation clearing and embedded banking platform, has partnered with ThetaRay, a provider of AI-powered transaction monitoring technology. The partnership aims to implement a cloud-native anti-money laundering (AML) monitoring system to protect ClearBank against financial crime. ClearBank will use ThetaRay’s SaaS SONAR AML solution to transform its AML monitoring operations into a fully cloud-native program. The system will provide ClearBank with the flexibility to scale and support faster and safer processing of increasing transaction volumes on its platform.
Partners
Novatti Group Adopts ThetaRay AI Technology to Monitor Global Payments
growth-positive
ThetaRay Partners with Qolo to Provide Transaction Monitoring Technology for the Omnichannel Payments Platform
ThetaRay and Qolo have announced a collaboration to detect and prevent financial crimes across Qolos payment services. Qolo will implement ThetaRays anti-money laundering (AML) solution to monitor transactions for its existing and new clients. ThetaRays SONAR solution analyzes multiple payment data sources to detect anomalies indicating money laundering activity. The partnership aims to remove pain points in the industry and establish trust for the next generation of innovators. The collaboration will drive innovation in the fintech market and build a network of trust in the global financial ecosystem.
Partners
growth-positive
Israel's ThetaRay to monitor transactions for UAE's Mashreq Bank
ThetaRay and Mashreq Bank of the UAE have announced a collaboration in transaction monitoring, using ThetaRays AI-driven solution to enable safe and secure cross-border payment transfers for correspondent banking with protection from financial crime. This expansion into the Middle East financial institutions is a growth-positive move for ThetaRay. The collaboration was made possible by the Abraham Accords, which normalized relations between Israel and the UAE, Bahrain, Sudan, and Morocco. ThetaRays solution aims to reduce total cost of ownership, expand revenues, improve customer service, and speed up ROI. Mashreq Bank is the first customer in the UAE, and ThetaRay plans to collaborate with additional financial institutions in the UAE and the Middle East.
PartnersExpand
growth-positive
ThetaRay Wins Abu Dhabi "The Search: Israel" Competition
ThetaRay has won Abu Dhabis The Search: Israel competition and will now compete in The Global Fintech Search competition. The companys solutions enable the acceleration of cross-border interbank transfers while protecting financial institutions from financial crimes. The winners of the competition will be announced at FinTech Abu Dhabi, the worlds largest FinTech event. Winning the competition reinforces the value ThetaRay brings to bankers and financial companies, allowing them to handle cross-border transactions reliably and securely. ThetaRays innovative solution helps financial organizations increase business opportunities, reduce costs, and meet regulatory requirements.
Partners
growth-positive
ThetaRay Partners with Google Cloud to Bring Advanced Anti-Money Laundering (AML) Solution to Payments Ecosystem
ThetaRay has announced a global partnership with Google Cloud to offer its Cloud-Based AML Solution for Cross-Border Payments as a service on Google Cloud. The partnership aims to protect banks, fintechs, PSPs, and payments infrastructure companies against money laundering activity in cross-border transactions. ThetaRays solution analyzes SWIFT traffic, risk indicators, and client/payer/payee data to detect anomalies indicating money laundering activity. It is an AI-driven AML solution that can be easily integrated and deployed within days. The partnership with Google Cloud allows ThetaRay to deliver its solution on a global scale and help financial institutions detect and prevent money laundering schemes.
Partners
growth-positive
https://www.jpost.com/jpost-tech/an-open-economy-brings-true-peace-669860
Mark Gazit, CEO of ThetaRay, spoke at the Jerusalem Post-Khaleej Times Global Investment Forum in Dubai. ThetaRay uses unique artificial intelligence to help banks solve the problem of global payment transfers. The technology enables secure and smart money transfer systems, detecting threats and attacks before they occur. Gazit explained that the companys technology is based on algorithms that simulate human intuition. He also mentioned that the Emirates government recently fined 11 banks for suspected money laundering activities. ThetaRays system aims to raise the level of trust in global money transfers.
CustomersPartners
growth-positive
Israeli cybersecurity co ThetaRay raises $31m
Israeli cybersecurity company ThetaRay has completed a $31 million financing round led by JVP and Benhamou Global Ventures. The companys total amount raised now exceeds $90 million. ThetaRays solutions for fighting terrorism and corruption have been successfully implemented by the Nigerian and Ukrainian governments, as well as major banks like Banco Santander. ThetaRays Financial Crimes Prevention Solution aims to reduce risks in cross-border payments and protect financial institutions from money laundering. The solution offers a unique and reliable detection of known and unknown threats, resulting in a 99% alert reduction compared to legacy systems. ThetaRay plans to aggressively grow its market with the launch of its cloud solution. The article was published on May 18, 2021.
InvestmentPartners
growth-positive
ThetaRay launches anti-money laundering AI and analytics for the cloud
ThetaRay, a cybersecurity company, announced that its AI-based anti-money laundering analytics will be available on public and private clouds. The cloud-agnostic version of ThetaRays AML platform aims to increase the speed at which banks and fintech firms can detect potential threats. The platform uses unsupervised machine learning to monitor financial transactions and triage alerts in real time. Cloud-based systems have become important for banks during the COVID-19 pandemic, and ThetaRays service analyzes SWIFT traffic, risk indicators, and client data to detect anomalies indicating money laundering and other criminal activities. The cloud alternative is scalable, reduces operational costs, and does not require additional hardware. ThetaRay was founded in 2013 and has raised $10 million in funding from investors like General Electric.
CustomersPartners
growth-positive
ThetaRay's Correspondent Banking AML Solution to Enable Cecabank to Safely Connect Small/Medium-sized Banks to the Global Financial System
ThetaRays AI-based Anti-Money Laundering solution has been chosen by Spanish wholesale bank Cecabank. The technology will enable Cecabank to analyze SWIFT traffic, risk indicators, and client/payer/payee data to detect anomalies indicating money laundering or terrorism financing schemes in correspondent banking transactions. Cecabank aims to ensure the seamless integrity of funds throughout the entire correspondent banking process. ThetaRays technology is a perfect fit for mid-sized banks aiming to improve their AML controls. Cecabanks choice of ThetaRays AI-based technology demonstrates their commitment to tackling money laundering and terrorism financing risks while expanding their correspondent banking relationships.
PartnersCustomers
growth-positive
ThetaRay appoints JVP's Erel Margalit to its Board of Directors
Santander recently adopted ThetaRay’s anti-money laundering solution. ThetaRay appointed Erel Margalit to its Board of Directors. ThetaRays analytics solution helps organizations protect against cybercrime. JVP Founder and Chairman, Erel Margalit, brings extensive experience to ThetaRay. JVP has raised $1.4 billion across nine funds and 140 companies.
PartnersCustomers
growth-positive
ThetaRay Provides Banco Santander With an Anti-Money Laundering (AML) Solution for Correspondent Banking
ThetaRay has signed an agreement with Banco Santander to provide its anti-money laundering (AML) solution for correspondent banking. The system will analyze SWIFT traffic, risk indicators, and KYC data to detect money laundering schemes. The rollout of the solution started in Q4 2019 and will be globally implemented over the next months. Santander will utilize a version of ThetaRays Investigation Center designed for correspondent banking, allowing them to perform investigative forensics and trace algorithm decisions. ThetaRays disruptive solution uses machine learning algorithms to identify anomalies in SWIFT and KYC data, enabling the rapid discovery of money laundering schemes.
Partners
growth-positive
ThetaRay Recognized for Fraud Prevention Innovation with 2020 FinTech Breakthrough Award
ThetaRay, a leading provider of AI-based Big Data analytics, has been selected as the winner of the Best Fraud Prevention Company designation in the FinTech Breakthrough Awards. The company has also received several other awards and accolades. ThetaRays fraud detection, anti-money laundering, and risk detection solutions enable financial institutions to uncover unknown threats and opportunities hidden within massive datasets. The companys rule-free approach reduces false positives and detects criminal activity more effectively. The FinTech Breakthrough Awards program recognized ThetaRay for its breakthrough AI-based fraud detection and prevention platform. With the COVID-19 pandemic causing a surge in suspicious activity, ThetaRay is hosting a webinar to discuss fighting financial crime during the pandemic. ThetaRay is dedicated to helping clients manage risk, detect fraud, and uncover growth opportunities.
Partners
growth-positive
ABN AMRO invests in Israeli big data co Thetaray
ABN AMRO Digital Impact Fund, the venture capital fund of the Dutch Bank, has invested in Israeli AI big data analytics startup Thetaray. The investment strengthens the operational relationship between ABN AMRO and ThetaRay, as the bank uses ThetaRays solutions to combat financial cybercrime and operational failures. ABN AMRO also stands to benefit from access to the Israeli ecosystem of cybersecurity and financial crime detection firms. The investment is part of ABN AMROs strategy to tap into the major growth market of AI-driven solutions for financial services.
PartnersInvestment
growth-positive
ThetaRay CEO Mark Gazit Emphasizes Regulation, Fintech and Israel Innovation at AIPAC Policy Conference 2019
ThetaRay CEO Mark Gazit was asked to speak at the AIPAC Policy Conference in Washington, DC. His presentation focused on regulation, financial cybercrime, and Israel innovation. The conference featured demonstrations of Israeli innovations and speeches by American and Israeli leaders. Gazit highlighted the ongoing cooperation between Israel and the United States in fighting terrorism, organized crime, and cyber threats. He emphasized the need for true cooperation and digital transformation to detect and defeat advanced unknown threats. ThetaRay provides big data analytics solutions to help clients manage risk, detect money laundering schemes, uncover fraud, and reveal growth opportunities.
PartnersCustomers
growth-positive
ThetaRay raises $30 million to grow its AI-powered cybersecurity business
ThetaRay, a big data analytics company, has raised over $30 million in a funding round led by Jerusalem Venture Partners (JVP), GE, Bank Hapoalim, OurCrowd, SVB Investments, and others. The funding brings the companys total fundraising to date to about $60 million. ThetaRay uses artificial intelligence to help financial institutions, cybersecurity divisions, and critical infrastructure detect threats and become more resilient. With the new funding, ThetaRay plans to expand its presence in Europe, Asia, and the U.S. and increase its workforce.
InvestmentExpand
growth-positive
ThetaRay receives next-gen ATM security award
ThetaRay has won the 2018 ATM Industry Association Global Award for Next-Generation ATM Security. The companys security solution addresses the risk of unknown future threats and supports next-gen ATM platform architecture. The solution uses big data analytics and AI-powered machine-learning technology to detect illicit and suspicious activity. ThetaRays technology can process any number of data features using advanced algorithms. The company aims to secure customers, data, and cash against any threats, known or unknown. The awards ceremony took place on June 12 in London.
Customers
growth-positive
ThetaRay Wins Asian Banker Risk Management Award for "Regulatory Technology Implementation of the Year"
ThetaRay has won the 2018 Asian Banker Risk Management Award for Regulatory Technology Implementation of the Year. The company was recognized for its efforts in helping a major Asian financial institution combat financial crime by significantly increasing operational efficiency and accuracy in identifying suspicious transactions. ThetaRays financial services solutions use unsupervised machine learning to detect fraud, money laundering, and ATM threats in real-time. The award ceremony was held at The Asian Banker Future of Finance Summit 2018 in Beijing, China.
Customers
growth-positive
OCBC Taps Cybersecurity Startup ThetaRay to Combat Financial Crime
Oversea-Chinese Banking Corporation Ltd. has partnered with ThetaRay Ltd., an Israel-based cybersecurity company, to monitor and combat suspicious financial transactions. ThetaRays machine learning-based algorithms analyze big data to detect anomalies and threats. The partnership aims to reduce the number of alerts that do not require further review and increase the accuracy rate of identifying suspicious transactions. OCBC plans to integrate ThetaRays technology fully into its monitoring systems in the second quarter of 2018.
Partners
growth-positive
Anomaly Detection Innovator ThetaRay Reinforces Commitment to Financial Sector with Appointment of James Heinzman
ThetaRay, a global leader in big data anomaly detection, has announced the appointment of James Heinzman as EVP of Financial Services Solutions. Heinzman will oversee strategy for the companys financial services solutions, with a focus on increasing market share for the companys financial crime analytics platform. ThetaRay aims to help banks fight fraud and money laundering, and Heinzmans 25 years of experience in the sector make him a perfect fit for the role. The companys platform offers unique patented technology developed by world-renowned mathematicians, providing high detection rates and low error rates. Heinzman will be responsible for the ThetaRay Financial Crime Platform, as well as the companys new fraud, anti-money laundering, and ATM security solutions.
Partners
growth-positive
Report: Alibaba Invests $5M In Cyber Security Startup ThetaRay
Alibaba has invested $5 million in Israeli cyber security company ThetaRay, joining a funding round of $20 million along with existing investors. ThetaRay has developed a solution to detect and prevent APT and zero-day attacks.
Investment
http://www.businessinsider.com/r-israels-thetaray-turns-to-maths-to-detect-cyber-threats-2014-10
