IDB Bank taps ThetaRay for AI-powered transaction monitoring solution
IDB Bank will now use cognitive AI capabilities to monitor fraudulent transactions.
FinTech Futures: Fintech news is part of the Informa Connect Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.
IDB Bank will now use cognitive AI capabilities to monitor fraudulent transactions.
ThetaRay currently engages around one billion end users and monitors over 15 billion transactions per year.
Sonar will help protect the growing business against sanctions violations and other types of financial crime.
Through the partnership, ThetaRay will provide Tudi its Sonar transaction monitoring solution.
Apollo Fintech will deploy Sonar on its new bank-to-bank payments service Knox Wire.
Investment takes company’s total equity capital to more than $60 million.
Israel-based specialist vendor ThetaRay has implemented its Advanced Analytics Solution at ING Netherlands for fraud detection. The vendor says that combining its tech with ING’s standing risk engine will enable the bank to detect new instances of SME lending fraud hidden within massive amounts of transactional and organisational data – in real-time and with industry-low false […]