Financial Crime World

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ThetaRay Revolutionizes AI Financial Crime Detection with Screena Acquisition

Liechtenstein, PRNewswire – ThetaRay, a leading provider of AI-powered financial crime detection technology, has announced the acquisition of next-generation European screening company, Screena. The strategic move solidifies ThetaRay’s position as a category leader in the fight against financial crime.

Enhanced Capabilities

The acquisition is a significant milestone for ThetaRay as it continues to enhance its offerings with cutting-edge AI capabilities. With Screena on board, ThetaRay will provide an unparalleled, holistic view of transactional and customer screening risks to financial institutions worldwide.

Key Benefits

  • Quick and Easy Integration: Screena’s technology empowers banks, fintechs, and digital businesses to quickly and easily integrate name screening and entity resolution with any customer onboarding or payment platform.
  • Improved Precision: AI-driven algorithms surface true positives with unrivalled precision, de-risking financial organizations from regulatory fines, personal liability, and reputational damage.

A Partnership of Trust

The acquisition formalizes Screena’s cutting-edge, cloud-based AI-driven screening solution as part of ThetaRay’s product suite. Cédric Iggiotti, CEO of Screena, stated, “Integrating with ThetaRay has been a game-changer for us at Screena, revealing the true potential of combining Transaction Monitoring, Screening, and Customer Risk Assessment.”

A Global Effort

ThetaRay’s mission to power the global fight against financial crime is gaining momentum. The company has already made significant strides in detecting multiple types of financial crimes, including money laundering, terrorist financing, and drug trafficking.

Notable Achievements

  • Collaborative Efforts: ThetaRay recently deployed advanced technology aimed at detecting human trafficking within financial transactions with Santander UK.
  • Awards Recognition: This initiative received accolades for “Best Use of Data for Human Trafficking and Modern Slavery Detection” at the Digital Transformation Awards in June 2024.

A Leader in Financial Crime Detection

ThetaRay’s product suite ensures financial institutions can swiftly and effectively comply with complex regulatory requirements. The company has already made a significant impact on the market, with its Transaction Monitoring offering being adopted by over 100 financial institutions worldwide.

“The acquisition of Screena is a testament to ThetaRay’s mission of thwarting financial crime and continuously enhancing capabilities,” said Erel Margalit, Chairman of ThetaRay. “This move will establish a highway for good actors that require an international payment network to do their business.”

A Bright Future Ahead

The acquisition of Screena marks a significant milestone in ThetaRay’s journey to becoming a category leader in the fight against financial crime. With its cutting-edge AI capabilities and commitment to innovation, ThetaRay is poised to revolutionize the way financial institutions detect and prevent financial crimes.

Contact: Raoul Wootliff Email: N10Spr@thetaray.com Phone: +972546921720