ThetaRay provides transaction monitoring to Qolo

Wednesday 4 May 2022 10:47 CET | News

Israel-based ThetaRay has partnered with omnichannel money movement platform Qolo to detect and prevent financial crimes across the latter’s services.

Qolo is a first-party provider of core payment functionality and a cloud-based issuing processor. Company officials explained that ThetaRay’s solution reduces false positive alerts while identifying early signs of true money laundering activity, removing pain points found in the industry and establishing trust.

ThetaRay’s SONAR is a SaaS offering that analyses multiple payment data sources to detect anomalies indicating money laundering activity across complex paths. It deploys proprietary ‘artificial intelligence intuition’ machine-learning methodology with unbiased AI to analyse risk indicators associated with financial crimes for both domestic and cross-border payments. As a result, SONAR delivers 95% investigation-worthy alerts and detects both known and unknown threats hidden within data.

ThetaRay's advanced AI will enable Qolo to detect criminal behaviour and increase client profitability. Their SaaS solution complements the partner’s full-service, cloud-native payments infrastructure.

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Keywords: partnership, transaction monitoring, AML, fraud detection, cloud services, SaaS, artificial intelligence
Categories: Fraud & Financial Crime
Companies: Qolo, ThetaRay
Countries: United States
This article is part of category

Fraud & Financial Crime




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