Spayce partners with ThetaRay to leverage its Cognitive AI

The collaboration aims to fight emerging risks and improve global payment security at a time when the financial crime landscape is transforming. As criminal networks emerge with more sophisticated tactics, traditional rule-based AML systems are increasingly outpaced.

Fighting financial crime through AI

Spayce leverages ThetaRay’s Cognitive AI Transaction Monitoring product to improve the financial crime detection capabilities of its global payments infrastructure. Cognitive AI continuously analyses vast volumes of transaction data, detecting nuanced suspicious activity and complex financial crime schemes. This approach strengthens compliance with global regulatory requirements and supports Spayce to scale securely.

ThetaRay’s partnership with Spayce unites their respective features to deliver proactive risk mitigation, greater transparency, and safe cross-border transactions to support the global economy. Spayce serves businesses of all sizes in over 200 countries and aims to gain deeper visibility into transaction flows without compromising speed or customer satisfaction.

As it expands its global payment capabilities, security and AML compliance remain key elements in its operations. This is why Spayce chose ThetaRay, to be able to combat increasingly sophisticated financial threats while continuing to deliver improved payment experiences for our customers worldwide.

ThetaRay implemented its Transaction Monitoring solution into IDB Bank so the latter can maintain regulatory compliance and financial integrity. The partnership with IDB Bank comes after ThetaRay announced in July 2024 that it acquired Screena, a European screening company. The move supported ThetaRay’s mission to utilise AI in its fight against financial crime and highlighted its continuous investment in proprietary technology and its commitment to assisting banks, fintech companies, and regulators to detect financial crime.

Leveraging the capabilities of Cognitive AI for financial crime compliance, ThetaRay supports financial institutions in identifying legitimate customers and flagging bad actors. The company’s SaaS solutions focus on overcoming the limitations of traditional rule-based systems by reducing implementation lifecycles, thus enabling efficient and risk-aware compliance operations.