NY-THETARAY
15.3.2023 17:21:35 CET | Business Wire | Press release
ThetaRay, a provider of AI-powered transaction monitoring technology enabling banks and fintechs trusted global payments, today announced it is experiencing heightened demand for its sophisticated SONAR SaaS AI solution that can help maintain smooth and uninterrupted cross-border money transfers amid the latest banking crisis.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230315005707/en/
Mark Gazit, ThetaRay CEO (Photo: Business Wire)
In the fallout of the Silicon Valley Bank (SVB) collapse, with banks experiencing runs on deposits, banks and fintechs require more advanced tools that can monitor transfers quickly and efficiently. Relying on legacy cross-border wire transfers (SWIFT) that can take up to 72 hours is highly challenging during high-volume peaks.
The banking crisis is accelerating the movement of funds to fintechs from banks. ThetaRay’s fully scalable SaaS solution empowers payment fintechs with operational benefits to achieve trusted global transactions without the need to worry about the maintenance of additional infrastructure, while satisfying regulators, improving the customer experience, and quickly opening new revenue streams.
“The SWIFT system established in 1973 is challenged by the new world of digital banking and a massive increase in volumes. ThetaRay AI technology has been proven in leading global banks and fintechs to be efficient in enabling trusted and smooth cross-border payments,” said Mark Gazit, CEO of ThetaRay. “With financial instability becoming an ever-growing factor, AI-based monitoring provides an effective intelligence and operational strategy for banks and fintechs to ensure trust and reliability of cross-border transactions.”
About ThetaRay
ThetaRay's AI-powered SONAR transaction monitoring solution, based on “artificial intelligence intuition,” allows banks and fintechs to expand their business opportunities through safe and reliable cross-border payments. The groundbreaking solution also improves customer satisfaction, reduces compliance costs, and increases risk coverage. Financial organizations that rely on highly heterogeneous and complex ecosystems benefit greatly from ThetaRay's unmatchable low false positive and high detection rates.
Learn more at www.thetaray.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230315005707/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Azul Addresses the Java Runtime Security Blind Spot Autonomous AI Can Now Exploit17.6.2026 15:00:00 CEST | Press release
Launches free JVM vulnerability risk assessment to give enterprises estate visibility before AI threat actors find the gaps Azul, the trusted leader in enterprise Java for today’s AI and cloud-first world, today launched a free JVM vulnerability risk assessment to address the blind spot that autonomous AI exploitation tools are increasingly able to find. With mean time to exploit (MTTE) collapsing from months to days or hours, the unmanaged Java estate has become an urgent enterprise security vulnerability. Azul’s assessment gives DevOps and SecOps teams complete visibility into the hidden risks embedded in the runtime of their Java estate before threat actors get there first, and is designed to complement the broader security, licensing and compliance solutions and services delivered by Azul’s trusted partners. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260617352753/en/ Azul's JVM Vulnerability Risk Assessment dashboard
Fortegra Strengthens Actuarial Leadership with Appointment of Anthony Katz as SVP, Reserving17.6.2026 15:00:00 CEST | Press release
The Fortegra Group, Inc., a global specialty insurer, today announced the appointment of Anthony Katz as Senior Vice President, Reserving. Mr. Katz will lead Fortegra’s team of professional actuaries, with responsibility for reserving, credit insurance, statistical reporting, and key initiatives including IFRS 17. “Anthony brings more than 30 years of actuarial expertise and a genuine commitment to building the capabilities our distribution partners depend on,” said Rick Kahlbaugh, Chief Executive Officer at Fortegra. “His background across reserving, actuarial transformation, and international markets will be instrumental as we continue to support our distribution partners.” A credentialed actuary holding FCAS, FSA, and MAAA designations, Mr. Katz brings more than 30 years of experience across reserving, pricing, and actuarial transformation. He has held senior leadership roles at ToaRe, Everest Re, Arch Insurance, Ernst & Young, and ACE, and most recently served as an independent con
Hitachi Expands Its Work With OpenAI to Accelerate AI-Driven Modernization and Cybersecurity17.6.2026 15:00:00 CEST | Press release
Hitachi and OpenAI’s Forward Deployed Engineer (FDE) will begin developing AI solutions for legacy system modernization, starting with financial institutions, aiming to expand across a wide range of industries. Through OpenAI’s “Trusted Access for Cyber,” Hitachi will strengthen its internal cybersecurity in practice and leverage the insights gained from this initiative to enhance its cybersecurity capabilities. Through this work, Hitachi will enhance its FDE capabilities in modernization and cybersecurity and further advance HMAX. Hitachi, Ltd. (TSE:6501, "Hitachi") today announced that it will expand its work with OpenAI*1 to accelerate AI-driven modernization and cybersecurity. The work combines OpenAI’s frontier AI technology with Hitachi’s domain expertise and know-how in supporting mission-critical systems and social infrastructure to accelerate AI transformation (AX) for customers and society. Working together, the two companies’ FDE teams will leverage OpenAI’s AI agent “Codex”
Hologic’s New Sustainability Report Marks 40 Years of Impact17.6.2026 15:00:00 CEST | Press release
Report outlines actions helping to reduce environmental impact, advance health equity and engage a purpose-driven workforce Hologic, Inc., a global leader in women’s health, today released its 2025 Sustainability Report. The new report coincides with Hologic’s 40th anniversary and underscores how the company’s longstanding purpose — to enable healthier lives for women everywhere, every day — continues to drive progress for patients, communities and the planet. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260617160174/en/ Hologic 2025 Sustainability Report “We have always firmly believed that our success as a company is fundamentally tied to our ability and commitment to help women worldwide live healthier lives,” said Sharon Vidal, Chief Sustainability Officer at Hologic. “Together with our customers and partners, we’re taking measurable steps to increase global access to innovative medical technologies while pursuing a mo
Laprophan Completes the Acquisition of Rivopharm, Accelerating Its International Expansion Strategy17.6.2026 14:39:00 CEST | Press release
Laprophan Group, the pioneer and one of Morocco's leading pharmaceutical groups, today announced the successful completion of the acquisition of a controlling stake in Rivopharm, a Switzerland-based pharmaceutical company specialized in specialty medicines, dossier development, complex formulations and value-added pharmaceutical solutions, and operating its own industrial manufacturing site. The financial terms of the transaction were not disclosed. Rivopharm generates annual revenue of approximately US$100 million. The acquisition represents a transformational milestone in Laprophan's development and marks the Group's first acquisition in Europe. The transaction significantly strengthens Laprophan's European footprint and accelerates its ambition to build a differentiated international pharmaceutical platform spanning Europe, Africa, the Middle East and selected global markets. The acquisition was carried out through Europhan, Laprophan's Luxembourg-based European platform, reinforcin
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom