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ThetaRay launches new software version on its SONAR AML Solution

By Leandra Monteiro

September 29, 2022

  • AML
  • AML Compliance
  • FinTechs
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ThetaRay ThetaRay, a provider of AI-powered transaction monitoring technology, announced the release of a new software version on its flagship SONAR advanced SaaS anti-money laundering (AML) platform. The update includes major capability upgrades for FinTechs and banks to detect and prevent financial crime through faster investigations and the discovery of new typologies in an increasingly complex financial world.

The software version, code-named Theia, offers a breakthrough visualization experience by clearly displaying transaction activity on financial networks, in addition to easy usability and self-service tools for simplified and autonomous AML compliance operations.

“We are pleased to deliver our customers even more value from the ThetaRay SONAR AI engine with the release of the new software version code-named Theia, which sheds new light into the complexity of financial networks,” said Mark Gazit, ThetaRay CEO. “Our award-winning Intuitive AI platform is more powerful than ever and reconfirms our commitment to enable our customers to stay a step ahead of financial crime, win trust, and create new business opportunities.”

SONAR is based on an advanced form of AI, artificial intelligence intuition that replicates the decision-making capabilities of human intuition to make better decisions with no bias or thresholds. It enables FinTechs and banks to implement a risk-based approach to effectively identify truly suspicious activity and create a full picture of customer identities, including across complex, cross-border transaction paths. This enables the rapid discovery of both known and unknown money laundering threats, and up to 99% reduction in false positives compared to rules-based solutions.

The new Theia software version is available for all types of customers, including banks, FinTechs, and regulators.

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