ThetaRay AI Tech to observe African funds for ARCA

NEW YORK & TEL AVIV, Israel & LAGOS, Nigeria–(BUSINESS WIRE/AETOSWire)– ThetaRay, a number one supplier of AI-powered transaction monitoring expertise, right this moment introduced that ARCA, a premier African fee providers supplier, will implement ThetaRay’s superior SONAR SaaS anti-money laundering (AML) and sanctions record screening resolution for transactions on its open AI-based platform.

ARCA is the primary Nigerian fintech to undertake ThetaRay’s superior SONAR resolution, trade famend for its capacity to detect the very first indicators of subtle monetary crime. ARCA supplies superior digital funds for an open banking ecosystem, serving to broaden modern and inclusive monetary providers all through Africa.

“Our mission is to offer feature-rich monetary options delivered via an open and versatile digital platform, via using cutting-edge applied sciences,” stated Alex Umeh, Chief Info Safety Officer at ARCA. “ThetaRay’s SONAR is an ideal match. Its superior machine studying and algorithms can immediately spot any makes an attempt to launder cash or circumvent sanctions, irrespective of how subtle. This can assist us to create new traces of income, higher serve our prospects, and proceed to stay compliant with regulatory necessities.”

“Prompt funds have turn out to be the brand new norm within the digital ecosystem, and ARCA is a frontrunner in driving this revolution within the African monetary system,” stated Mark Gazit, CEO of ThetaRay. “ARCA prioritizes belief, confidence, and high quality. We’re thrilled to construct this partnership and assist facilitate each the expansion of their enterprise and growth of the world economic system by enabling monetary inclusion.”

SONAR is predicated on a complicated type of AI that makes higher choices with no bias or thresholds. It allows fintechs and banks to implement a risk-based method to successfully establish actually suspicious exercise and create a full image of buyer identities, together with throughout complicated, cross-border transaction paths. This allows the fast discovery of each identified and unknown cash laundering threats, with a 99% discount in false positives in comparison with rules-based options.

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About ARCA

ARCA was based in 2016 with a transparent imaginative and prescient to turn out to be Africa’s premier fee providers platform, fostering monetary inclusion and innovation, and actively shaping the way forward for monetary providers all through the area. The ARCA system empowers banks, monetary establishments, builders & SMEs to seamlessly join and create options for his or her prospects.

Be taught extra at www.arca.network.

About ThetaRay

ThetaRay’s AI-powered SONAR transaction monitoring resolution, primarily based on “synthetic intelligence instinct,” permits banks and fintechs to broaden their enterprise alternatives and develop revenues via trusted and dependable cross-border funds. The groundbreaking resolution additionally improves buyer satisfaction, reduces compliance prices, and will increase threat protection. ThetaRay’s expertise is the one SaaS providing that analyzes SWIFT visitors, threat indicators and consumer/payer/payee information to detect anomalies indicating cash laundering exercise throughout complicated, cross-border transaction paths in a single unified platform. Monetary organizations that depend on extremely heterogeneous and sophisticated ecosystems profit enormously from ThetaRay’s unmatchable low false constructive and excessive detection charges.

Be taught extra at www.thetaray.com.

*Supply: AETOSWire

Contacts
Media:
Nina Gilbert, ThetaRay
Nina.gilbert@thetaray.com