Financial Crime World

Israel’s Fintechs and Banks Embrace AI-Powered Anti-Money Laundering Software

Boosting Trust in Global Payments with AI-Driven AML Solutions

In a bid to create trust in cross-border and domestic payments, fintechs and banks in Israel are turning to advanced anti-money laundering (AML) software powered by artificial intelligence (AI). ThetaRay’s SONAR solution has become the go-to tool for many financial institutions seeking to stay ahead of regulatory requirements while reducing costs and increasing efficiency.

The Power of AI-Powered AML

ThetaRay’s AI-powered AML transaction monitoring and screening solution uses proprietary and patented algorithms to detect anomalies in unlimited data sets, pinpointing suspected cases of money laundering with virtually no false positives. The company claims that its system can accurately identify risks more precisely, enabling businesses to grow by up to 50% in countries and segments previously considered high-risk.

Benefits of ThetaRay’s SONAR Solution

  • Increased Accuracy: AI analysts spend over 50% less time on investigations, reducing the overall cost of compliance.
  • Improved Detection: The system detects unknown cases outside of normal behavior, including completely new typologies, giving it an unparalleled ability to recognize anomalies and find hidden threats.
  • Reduced False Positives: ThetaRay’s solution virtually eliminates false positives, allowing businesses to focus on real risks.

Customer Testimonials

“Celia Pizzi, Chief Compliance Officer of Travelex Bank in Brazil: “AI has had a massive impact on our business… It’s looking into things that in a concise and coherent manner.””

“ThetaRay is enabling our growth. In a year’s time we’ll be doing 10x the volumes that we’re doing today.”

The Future of AML

As Israel’s fintechs and banks continue to adopt AI-powered AML software, they are demonstrating their commitment to creating trust in global payments while driving financial growth. With ThetaRay leading the charge, it is clear that the future of anti-money laundering lies in the power of artificial intelligence.

Conclusion

By embracing AI-powered AML solutions like ThetaRay’s SONAR, Israel’s fintechs and banks are positioning themselves as leaders in the fight against money laundering while driving financial growth and increasing trust in global payments.