Mashreq Bank collaborates with ThetaRay

The collaboration between the UAE-based bank and ThetaRay came to fruition thanks to the Abraham Accords that were signed in September 2020 to normalise relations between Israel and the UAE, Bahrain, Sudan, and Morocco.

ThetaRay’s anti-money laundering (AML) solution is in line with the trend to establish UAE as a global financial center that connects the Middle East and Africa to the rest of the world.

ThetaRay’s solution allows banks and fintechs to reduce total cost of ownership (TCO), expand revenues, improve customer service, and speed ROI from months to only days.

In 2021, ThetaRay has launched its AML for cross-border payments solution as a cloud-based service. It analyses SWIFT traffic, risk indicators, and client/payer/payee data to detect anomalies indicating money laundering, terrorism financing, and other criminal activities across complex, cross-border transaction paths.