Theia release offers breakthrough transaction network visualization, easy usability, and self-service configuration

ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced the release of a new software version on its flagship SONAR advanced SaaS anti-money laundering (AML) platform. The update includes major capability upgrades for fintechs and banks to detect and prevent financial crime through faster investigations and the discovery of new typologies in an increasingly complex financial world.

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The software version, code-named Theia, offers a breakthrough visualization experience by clearly displaying transaction activity on financial networks, in addition to easy usability and self-service tools for simplified and autonomous AML compliance operations.

"We are pleased to deliver our customers even more value from the ThetaRay SONAR AI engine with the release of the new software version code-named Theia, which sheds new light into the complexity of financial networks," said Mark Gazit, ThetaRay CEO. "Our award-winning Intuitive AI platform is more powerful than ever and reconfirms our commitment to enable our customers to stay a step ahead of financial crime, win trust, and create new business opportunities."

SONAR is based on an advanced form of AI, artificial intelligence intuition that replicates the decision-making capabilities of human intuition to make better decisions with no bias or thresholds. It enables fintechs and banks to implement a risk-based approach to effectively identify truly suspicious activity and create a full picture of customer identities, including across complex, cross-border transaction paths. This enables the rapid discovery of both known and unknown money laundering threats, and up to 99 percent reduction in false positives compared to rules-based solutions.

Key benefits of the new software version

Availability

The new Theia software version is now available for all types of customers, including banks, fintechs, and regulators.

About ThetaRay

ThetaRay's AI-powered SONAR transaction monitoring solution, based on "artificial intelligence intuition," allows banks and fintechs to expand their business opportunities and grow revenues through trusted and reliable cross-border payments. The groundbreaking solution also improves customer satisfaction, reduces compliance costs, and increases risk coverage. Financial organizations that rely on highly heterogeneous and complex ecosystems benefit greatly from ThetaRay's unmatchable low false positive and high detection rates.

For more information, visit www.thetaray.com

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Media

Nina Gilbert, ThetaRay Nina.gilbert@thetaray.com