The agreement will enable Finance Incorporated Limited to apply ThetaRay’s SaaS-based SONAR AI solution on its multiple datasets, improving risk-based transaction monitoring and enhancing the accuracy of AML operations.

In addition, ThetaRay’s SONAR AI solution will significantly reduce false positives by up to 99%, all while increasing the ability to spot emerging AML technologies automatically.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Noel Bartolo, chief compliance officer at Finance Incorporated Limited, lauded the collaboration with ThetaRay.

“Our business is built entirely on trust. We repay our customers’ faith in us by placing regulatory requirements at the core of our operations. When seeking the ideal platform for transaction monitoring, our primary concern was to serve the business in the most robust way possible”, Bartolo said.

“The partnership with ThetaRay reinforces Finance Incorporated Limited’s commitment to remain ahead of the curve across all its operations, and AI-powered transaction monitoring technology ensures that Finance Incorporated Limited ‘s AML control framework is strengthened and future-proofed while having the ability to scale”, he continued.

ThetaRay’s success

Israeli fintech ThetaRay has become more of a buzzword in the world of combating financial crime, mostly due to its SONAR anti-money laundering tool. As a result, a growing number of financial institutions are turning to ThetaRay to combat fraud and AML activities.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In December 2022, Dubai-based Now Money adopted ThetaRay’s SONAR to monitor cross-border payments across the GCC nations.

Most recently, blockchain-powered fintech Zone has announced implementing the AI-powered SONAR to monitor and screen payments in Nigeria.

Blockchain payments bear greater risks, mainly because transfers can hardly be undone once the money is transferred.

Mark Gazit, ThetaRay’s CEO, welcomed the partnership with Finance Incorporated Limited.

“Financial Incorporated Limited’s innovative financial services are reshaping the global marketplace”, Gazit declared. “The new digital era requires new-generation AI-based tools to manage the massive volume of global financial transactions. Financial crime vectors can change in a matter of seconds.”

“ThetaRay’s advanced AI uses augmented and unsupervised AI, which makes it the only system that can identify both known and unknown criminal activities, enabling fintechs and banks to emend trust in their transactions and grow revenues”, ThetaRay’s CEO added.