Melbourne, Australia & Tel Aviv, Israel & New York, United States:
ThetaRay, a number one supplier of AI-powered transaction monitoring expertise, right now introduced that Novatti Group (ASX:NOV), a number one fintech that permits companies to pay and be paid, has chosen SONAR, ThetaRay’s SaaS AML transaction monitoring answer, to shield its rising international funds companies in opposition to cash laundering and different monetary crimes.
This press launch options multimedia. View the complete launch right here: https://www.businesswire.com/news/home/20220914005466/en/
Headquartered in Australia, Novatti Group allows companies and people to make funds each domestically and internationally. Novatti presently serves 59 nations with merchandise together with cross-border transfers, digital wallets and vouchers, and abroad invoice funds.
Novatti is ThetaRay’s first SaaS buyer within the Asia-Pacific area.
SONAR, ThetaRay’s superior AI-powered transaction monitoring answer primarily based on “artificial intelligence intuition,” will monitor tons of of 1000’s of transactions per 12 months for Novatti. The answer’s capability to detect the earliest indicators of subtle cash laundering exercise will allow Novatti to confirm that processed transactions are remoted from criminal activity with out affecting the standard of service. This capability to present a reliable, safe service will empower Novatti to enhance its worldwide development alternatives.
“As we expand our relationships and add new payment services, we need an AML transaction monitoring solution that is efficient and can keep up with the increasing transaction volumes of our growing business,” stated Evangelia Pefkou, Group GM of Risk, Legal and Compliance at Novatti Group. “We chose ThetaRay’s SONAR because it is a true AI-based solution that effectively prevents financial crime – including unknown and hidden money laundering – with high detection rates and low false positives. This will enable us to file high-quality reports proactively and efficiently to regulators.”
“We are excited about the opportunity to help Novatti Group deliver fast, secure payments and build trust through its global network,” stated Mark Gazit, CEO of ThetaRay. “SONAR detects even the newest and most sophisticated criminal schemes, so Novatti will be able to simultaneously establish new relationships to grow global business, increase revenues and improve customer service.”
Cross-border transactions usually contain an advanced sequence of monetary establishments working throughout a number of currencies in numerous nations, making a problem for fintechs and banks to have full transparency into ultimate beneficiaries. By offering full visibility throughout advanced, cross-border transaction paths, SONAR helps shield customers in opposition to the chance of being exploited for cash laundering, terrorist financing, human trafficking, and narco-trafficking whereas empowering companions to enhance their quantity of transfers.
“Partnering with Novatti will help grow their business while securing services from money laundering and other financial crimes,” stated Dan Wollis, Vice President Strategic Accounts, ThetaRay. “There is a great synergy between the companies, driving innovation in the global payments network. We look forward to collaborating and building a strong relationship.”
SONAR is the business’s most superior monetary crime prevention answer for cross-border funds. It allows the fast discovery of each identified and unknown cash laundering threats, with a peerless 95% detection charge and up to 99% discount in false positives in contrast to rules-based options.
To be taught extra about Novatti Group go to www.novatti.com.
About ThetaRay:
ThetaRay’s AI-powered SONAR transaction monitoring answer, primarily based on “artificial intelligence intuition,” permits banks and fintechs to broaden their business alternatives and develop revenues by trusted and dependable cross-border funds. The groundbreaking answer additionally improves buyer satisfaction, reduces compliance prices, and will increase danger protection. Financial organizations that depend on extremely heterogeneous and complicated ecosystems profit significantly from ThetaRay’s unmatchable low false constructive and excessive detection charges.
To be taught extra about ThetaRay, go to: www.thetaray.com
View supply model on businesswire.com: https://www.businesswire.com/news/home/20220914005466/en/
