ThetaRay receives Microsoft Cloud Solution Provider status

ThetaRay’s full-stack detection platform leverages a combination of rules-based, AI/ML risk-based and network visualisation to provide insight into financial networks to detect financial crime. The cloud-based SaaS system allows banks and fintechs to rapidly grow their business while complying with global regulators and reducing risk. At the same time, financial institutions can increase efficiency by reducing false positive alerts by up to 90%, cutting analyst time in half and detecting the ever-present ‘unknown unknowns’.

As part of its status as Microsoft Cloud Solution Provider, ThetaRay’s SONAR solution is now available through the Microsoft Azure Marketplace, an online store providing applications and services for use on Azure. ThetaRay customers can now take advantage of the productive and trusted Azure cloud platform, with streamlined deployment and management.

Unlike traditional artificial intelligence methods being used by many Anti-Money Laundering technology providers, ThetaRay’s technology, which has over 1 billion end users and monitors over 15 billion transactions per year, includes proven, advanced machine learning (ML) already in use globally. Importantly, ThetaRay’s unbiased AI does not require data labelling or long Machine Learning (ML) training times and provides true, out-of-the-box, artificial intelligence capabilities.

ThetaRay’s officials said their technology is different because it utilises advanced unbiased AI which truly makes rules-based-only technologies and ‘traditional’ biased AI a thing of the past. They are happy to be integrating with Microsoft to help banks and fintechs grow their business while reducing risk, enabling significant efficiencies that have a real and direct impact on end-customer experience while, at the same time, taking into account global regulations.

What does ThetaRay do?

ThetaRay's AI-powered SONAR transaction monitoring solution, based on ‘artificial intelligence intuition,’ allows banks and fintechs to expand their business opportunities and grow revenues through trusted and reliable cross-border payments. The groundbreaking solution also improves customer satisfaction, reduces compliance costs, and increases risk coverage. Financial organisations that rely on highly heterogeneous and complex ecosystems benefit from ThetaRay's low false positive and high detection rates.