Hugo Bongers, Director of ABN AMRO Digital Impact Fund

ABN AMRO Digital Impact Fund has announced an investment in Israeli financial crime detection solutions provider ThetaRay. ThetaRay’s solutions will enable ABN AMRO to securely carry out its activities within the financial system.

Hugo Bongers, Director of ABN AMRO Digital Impact Fund, said: “Our investment in ThetaRay strengthens the current operational relationship between the bank and ThetaRay. The market for these solutions driven by artificial intelligence is a major growth market across the world and is strategically relevant to all types of financial services. In addition, ABN AMRO stands to benefit from access to the Israeli ecosystem of cybersecurity and financial crime detection firms, as well as the leading venture capital investors operating in this business, such as JVP (Jerusalem Venture Partners) and OurCrowd.”

Established in 2013, ThetaRay’s AI platform, as the supplier suggests, mimics human-decision making capabilities for detecting malicious activities, money laundering and many more. Its services are directed towards large financial institutions, cybersecurity divisions and critical infrastructure.

“We’re very proud that ABN AMRO, a customer that benefits from ThetaRay’s intuitive artificial intelligence technology to combat financial cybercrime and operational failures, has now also become an investor,” said Mark Gazit, CEO of ThetaRay. “ABN AMRO is a visionary company that recognizes the value of a technology that can apply our IntuitiveAI-based solutions to drive better outcomes and capture future growth opportunities. We see ABN AMRO Digital Impact Fund as a true partner for creating a safer world.”

Recently, ABN AMRO Digital Impact Fund invested in US-based technology firm Tealium in bid to diversify its portfolio as well as its growth.

ABN AMRO Digital Impact Fund, the €50 million fund, invests in start-ups and scale-ups involved in the digitalization of financial products and services. The Fund has stakes in Tink, BehavioSec, solarisBank, Ockto, Crosslend and Cloud Lending Solutions.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
imp-loader
preloader