ThetaRay teams up with Google Cloud for cross-border payments AML

The global partnership with Google Cloud aims to protect banks, fintechs, PSPs, and payments infrastructure companies against money laundering activity hidden within cross-border transactions. When the global pandemic hit in early 2020, the financial industry and payments ecosystem increased their adoption of cloud-based systems to accommodate remote working. As a result, there is an increasing requirement for solutions that can detect money laundering in a cloud-based environment. Google Cloud’s global infrastructure is well positioned to deliver solutions on a global scale.

ThetaRay’s solution analyses SWIFT traffic, risk indicators and client/payer/payee data to detect anomalies indicating money laundering activity across complex, cross-border transaction paths. It is an AI-driven AML solution that can be integrated and deployed within days, with minimal implementation required, according to the official press release.

ThetaRay's solution is based on an advanced form of AI called Artificial Intuition that can mimic human feelings, perceptions, inferences, hypotheses, and reasoning in order to make better decisions.