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Tudi taps ThetaRay to monitor domestic payments in Mexico

By Gloria Methri

February 23, 2023

  • AML
  • Digital Payments
  • Financial Crime

ThetaRay, Transaction Monitoring Technology, Piie, AML, KYC, Insurance Claim Payments, Payments Intelligent Integration Engine, SONAR Transaction Monitoring, Financial Crime, Payments-as-a-Service Platform, Real-time Payments, Risk Management, Digital Payments, Digital Transformation, USATechnology company Tudi, enabling the digital financial community through its mobile app, has chosen the ThetaRay cloud-based AML solution to monitor its transactions in Mexico for financial crime.

A Stella Tech company, Tudi is helping the Mexican payment market move to cashless services in a one-stop application that meets the end-user transactional needs, including paying bills, money transfers, top-ups, entertainment services, and government fees. The app also promotes community brand engagement with consumers at merchant point-of-purchase.

Under the agreement, ThetaRay will provide Tudi with its SONAR SaaS solution for AI-powered transaction monitoring that can detect early signs of financial crimes. This will enable Tudi to provide a compliant service under the new Mexican law that regulates FinTechs (LRITF) and grow its business with a trusted and safe payment service.

Andrés Adame Guajardo, VP Product at Tudi said, “ThetaRay’s technology will help us realize our vision to serve the unbanked in Mexico with low-cost and convenient digital financial services. The younger generations are not deterred by technology, and digital platforms will enable them to become stronger financial players, reduce the cash-based economy, and increase economic prosperity using modern financial services.”

“Tudi is a digital financial services leader that is helping promote financial inclusion by bringing innovative services to underserved economic players. With ThetaRay’s advanced and effective AI-driven AML technology these services can also be trusted by financial partners and regulators,” said Mark Gazit, CEO of ThetaRay.

ThetaRay’s SONAR solution is based on a proprietary form of AI, artificial intelligence intuition, that replaces human bias, giving the system the power to recognize anomalies and find unknowns outside of normal behavior, including new typologies. It enables FinTechs and banks to implement a risk-based approach to effectively identify suspicious activity and create a full picture of customer identities.

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