ClearBank Selects ThetaRay AI Checking Tech to Accelerate Business enterprise Progress

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ClearBank Selects ThetaRay AI Checking Tech to Accelerate Business enterprise Progress

United kingdom banking fintech taps ThetaRay AML SaaS resolution to guard its system from regarded and not known funds-laundering crimes

LONDON & NEW YORK & TEL AVIV, Israel, November 29, 2022–(Enterprise WIRE)–ClearBank, the largest following-technology clearing and embedded banking system in the United kingdom, and ThetaRay, supplier of AI-powered transaction checking technology, currently declared they will collaborate in cloud-native anti-funds laundering (AML) checking to defend ClearBank versus financial criminal offense with ThetaRay’s robust and market-leading AI answer.

This press launch features multimedia. View the comprehensive release below:

ClearBank symbol

By the agreement, ClearBank will renovate its AML monitoring operations to a thoroughly cloud-indigenous system with ThetaRay’s SaaS SONAR AML resolution. The cloud-indigenous SONAR system will provide ClearBank the overall flexibility to scale and assistance more rapidly and safer processing of expanding transaction volumes on its platform.

ClearBank is the 1st proven and fully regulated cloud-indigenous clearing bank in the British isles, running with far more than 200 economical establishments and fintech customers, 13 million accounts, and £3bn in balances.

“The ThetaRay AML technique powered by synthetic intelligence (AI) and device learning know-how will give us the edge that will empower us to win new economic partnerships and unlock the likely of our small business product to carry constructive and meaningful transform for clients in the British isles, Europe and beyond,” mentioned Nigel Walder, Main Running Officer, ClearBank. “The ThetaRay hazard-based analytical capabilities can detect concealed money criminal offense hidden within the facts of transactions passing via sophisticated financial networks, such as identified and unidentified typologies.”

ClearBank selected ThetaRay as the ideal spouse for its capacity to supply a SaaS alternative with API-pushed integration, scalability, and usability with an intuitive investigative tool for analysts for to start with-line examination.

“We are honored to have a spouse like ClearBank that is foremost the banking innovation area by minimizing charges and friction with cloud-native financial companies. Our firms have fantastic synergy, and we glance ahead to a extended-time period romance to develop the economic marketplace,” explained Mark Gazit, CEO of ThetaRay. “Our totally scalable SaaS solution empowers payment fintechs with operational added benefits to accomplish trusted international transactions without the need of owning to fear about the upkeep of additional infrastructure, while enjoyable regulators, bettering the consumer working experience, and speedily opening new income streams.”

ThetaRay’s award-successful SONAR remedy is centered on a proprietary kind of AI, artificial intelligence intuition, that replaces human bias, offering the technique the electric power to realize anomalies and uncover unknowns outside the house of standard actions, including absolutely new typologies. It permits fintechs and banks to apply a danger-primarily based solution to effectively establish certainly suspicious exercise and produce a whole photo of shopper identities, which includes across advanced, cross-border transaction paths. This makes it possible for the fast discovery of equally recognised and not known dollars laundering threats, and up to 99 p.c reduction in phony positives in comparison to procedures-based mostly remedies.

About ClearBank

ClearBank is a intent-crafted clearing and embedded banking platform. By its banking license and clever, strong know-how methods, ClearBank permits its associates to offer authentic-time payment and innovative banking providers to their clients. ClearBank is approved by the Prudential Regulation Authority and controlled by the Monetary Perform Authority and the Prudential Regulation Authority (Fiscal Providers Sign-up number: 754568).

Go to www.crystal clear.lender for a lot more data.

About ThetaRay

ThetaRay’s AI-powered SONAR transaction checking option, based mostly on “synthetic intelligence instinct,” will allow banking companies and fintechs to expand their company prospects as a result of safe and dependable cross-border payments. The groundbreaking resolution also improves shopper pleasure, minimizes compliance expenditures, and increases hazard coverage. Economic companies that depend on remarkably heterogeneous and advanced ecosystems profit tremendously from ThetaRay’s unmatchable minimal untrue positive and superior detection fees.

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Nina Gilbert, ThetaRay
[email protected]