Financial Crime World

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Revolutionizing AI Financial Crime Detection: ThetaRay Acquires Screena

ThetaRay, a leading provider of AI-powered financial crime detection technology, has announced the acquisition of next-generation European screening company, Screena. This strategic move marks a significant milestone in ThetaRay’s mission to use artificial intelligence (AI) in the fight against financial crime.

Enhancing Financial Crime Detection Capabilities

With this acquisition, ThetaRay further enhances its end-to-end financial crime detection platform used by over 100 financial institutions worldwide. The combined solution provides an unparalleled, holistic view of transactional and customer screening risks, empowering banks, fintechs, and regulators to detect multiple types of financial crimes such as money laundering, terrorist financing, and drug trafficking.

Screena Brings Advanced Screening Capabilities to ThetaRay

Screena’s cutting-edge, cloud-based AI-driven screening solution will be integrated into ThetaRay’s product suite, enabling seamless customer onboarding and transaction flows. This move is expected to significantly enhance crime detection capabilities for financial institutions, as evidenced by recent successes with major clients.

Quotes from the CEOs

  • “We are delighted to have closed our first acquisition, bringing key capabilities and further establishing our already rapidly growing presence in Europe,” said Peter Reynolds, CEO of ThetaRay. “The need for international, cross-border payments and business corridors requires the use of AI and advanced technology to ensure that transactions are trusted, and individuals behind them are trusted.”
  • “Integrating with ThetaRay has been a game-changer for us at Screena. Our partnership not only meets stringent regulatory demands but also significantly enhances our crime detection capabilities,” said Cédric Iggiotti, CEO of Screena.

Continuing to Lead the Fight Against Financial Crime

This acquisition is part of ThetaRay’s journey to becoming a category leader in AI-powered financial crime detection solutions. With its Transaction Monitoring, Screening, and Customer Risk Assessment product suite, ThetaRay enables compliant business growth while helping institutions fight financial crime.

ThetaRay’s main investors include JVP, Portage, and other large investors from Israel and Europe. For more information, visit https://www.thetaray.com.