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Divilo selects ThetaRay to monitor global payments for financial crime

By Gloria Methri

January 11, 2023

  • AML Compliance
  • Europe
  • FinTech
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ThetaRay, Transaction Monitoring Technology, Sanctions Screening Company, Screena, SONAR SaaS Transaction Monitoring Solution, FinTech, Risk Management, EuropeDivilo, a Spain-based FinTech providing B2B financial services is leveraging ThetaRay’s AI-powered transaction monitoring technology, to protect its services against money laundering, sanctions violations, and other financial crimes.

Under the partnership, ThetaRay will provide Divilo its SONAR solution, an AML transaction monitoring, and sanctions list screening platform, for domestic and cross-border payments. Divilo provides 100% digital financial services to SMEs and the self-employed.

ThetaRay says its SONAR system can detect the earliest signs of sophisticated money laundering activity, allowing Divilo to provide a reliable payment service as it expands internationally.

“As consumers continue to adopt digital payments and reduce cash transactions, Divilo is on a mission to transform payment and collection by providing greater agility, a better user experience, high-security measures, transparency, and simplicity,” said Juan Guruceta, Divilo founder and CEO. “Using ThetaRay’s AML solution, we will be able to grow our network of relationships and increase business internationally with the assurance that next-generation AI detection will provide enhanced coverage and highly accurate alerts to allow businesses to focus on what really matters”.

Divilo offers financial products developed to facilitate collection for SME companies and the self-employed. The company has traditional solutions, such as cards and transfers, but also offers solutions to manage payments through mobile phones, using PINs or QR codes.

“Divilo is a FinTech leader providing valuable and innovative payment solutions that are growing the global financial system,” said Mark Gazit, CEO of ThetaRay. “ThetaRay is thrilled to provide Divilo with technology that instills trust into cross-border payments, enabling revenue growth by opening doors to business with new customers and financial partners. Our advanced AI solution also makes the entire process of transaction monitoring much more efficient and effective, while improving customer satisfaction, reducing compliance costs, and increasing risk coverage with safe and secure payments.”

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