NY-THETARAY/NOVATTI
14.9.2022 14:01:56 CEST | Business Wire | Press release
ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced that Novatti Group (ASX:NOV), a leading fintech that enables businesses to pay and be paid, has chosen SONAR, ThetaRay’s SaaS AML transaction monitoring solution, to protect its growing global payments services against money laundering and other financial crimes.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220914005466/en/
Headquartered in Australia, Novatti Group enables businesses and individuals to make payments both domestically and internationally. Novatti currently serves 59 countries with products including cross-border transfers, digital wallets and vouchers, and overseas bill payments.
Novatti is ThetaRay’s first SaaS customer in the Asia-Pacific region.
SONAR, ThetaRay's advanced AI-powered transaction monitoring solution based on “artificial intelligence intuition,” will monitor hundreds of thousands of transactions per year for Novatti. The solution’s ability to detect the earliest signs of sophisticated money laundering activity will enable Novatti to verify that processed transactions are isolated from illegal activity without affecting the quality of service. This ability to provide a trustworthy, secure service will empower Novatti to increase its international growth opportunities.
“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,” said 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,” said 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 often involve a complicated sequence of financial institutions operating across multiple currencies in different countries, creating a challenge for fintechs and banks to have full transparency into final beneficiaries. By providing full visibility across complex, cross-border transaction paths, SONAR helps protect users against the risk of being exploited for money laundering, terrorist financing, human trafficking, and narco-trafficking while empowering partners to increase their volume of transfers.
“Partnering with Novatti will help grow their business while securing services from money laundering and other financial crimes,” said 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 industry's most advanced financial crime prevention solution for cross-border payments. It enables the rapid discovery of both known and unknown money laundering threats, with a peerless 95% detection rate and up to 99% reduction in false positives compared to rules-based solutions.
To learn more about Novatti Group visit www.novatti.com.
About ThetaRay:
ThetaRay's AI-powered SONAR transaction monitoring solution, based on “artificial intelligence intuition,” allows banks and fintechs to expand their business opportunities and grow revenues through trusted 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.
To learn more about ThetaRay, visit: 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/20220914005466/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
Tacton Named a Leader in the 2026 Gartner® Magic Quadrant™ for CPQ Applications for the Fourth Consecutive Year27.1.2026 18:00:00 CET | Press release
Positioned Highest in Both Completeness of Vision and Ability to Execute Tacton, a global leader in Configure, Price, Quote (CPQ) solutions for manufacturers of complex, configurable products, today announced that it has been named a Leader in the 2026 Gartner® Magic Quadrant™ for CPQ Applications. This marks the fourth consecutive year Tacton has been recognized as a Leader in the report. Among the 16 vendors evaluated, Tacton placed highest in the quadrant on Completeness of Vision and for the second consecutive year is positioned highest in Ability to Execute. Tacton CPQ is designed to support manufacturers selling highly configurable products by helping them: Ensure accurate configuration so every quote reflects valid options and constraints Quote faster with confidence across high-variance portfolios without relying on manual engineering checks Maintain pricing and margin control through consistent configuration and pricing logic This approach supports manufacturers as they manage
CSG Recognized in Multi-Category Trusted Analyst Reports for CPQ, Monetization, and Digital Partner Management27.1.2026 17:05:00 CET | Press release
The depth, innovation, and real-world impact of the company’s telecom portfolio are what make CSG stand out in the industry Communication service providers (CSPs) are under pressure to simplify complexity, monetize new services, and deliver experiences customers trust with speed and accuracy. To succeed, they need partners who can turn quote-to-cash and digital monetization into a competitive advantage, not just a back-office function. Over the past year, CSG® (NASDAQ: CSGS) has achieved multi-category recognition from leading analyst firms for doing exactly that. To CSG, these recognitions reinforce a role as a go-to partner for CSPs looking to move faster, unlock new revenue streams, and modernize their core with AI-powered, telco-specific platforms built for real-world complexity. CPQ Leadership for Complex B2B and B2B2X Monetization CSG Quote & Order continues to stand out for CSPs that need to configure complex offers, quote with confidence, and move from deal to revenue without f
ThetaRay Unveils Ray: An Agentic AI Investigation Suite Delivering Faster, More Consistent AML Investigations27.1.2026 17:00:00 CET | Press release
One of the first agentic suites that accelerates AML case handling, standardizes investigations across jurisdictions, and generates regulator-ready documentation while keeping analysts in full control In the face of rapidly evolving global regulatory standards and rising Anti-Money Laundering (AML) scrutiny, ThetaRay today announced the launch of Ray, an Agentic AI AML investigation suite designed to transform how financial institutions conduct transaction monitoring investigations. Embedded in the ThetaRay Investigation Center, Ray extends Cognitive AI from detection to investigation, combining autonomous investigative execution with on-demand analyst support enabling financial institutions to significantly improve case resolution time and bring greater consistency to the investigation process across teams and jurisdictions. Global regulators are converging on higher expectations for investigative quality and documentation. In the European Union, the new Anti-Money Laundering Regulati
State Street, in Collaboration with ADIO, to Create 300+ New Jobs With Launch of New Al Ain Operations Hub27.1.2026 16:15:00 CET | Press release
The expansion further solidifies State Street’s role as a trusted strategic partner in Abu Dhabi’s financial ecosystem, supporting the emirate’s commitment to regional economic diversification and developing next-generation talent in Al Ain. State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, has signed a support agreement with the Abu Dhabi Investment Office (ADIO) to establish a new operating center in the Al Ain region, Abu Dhabi. The collaboration marks a significant step in State Street’s long-term expansion strategy in the Middle East and UAE and reinforces its role as a strategic partner within the Abu Dhabi Global Market (ADGM) ecosystem. As part of its long-term growth plan in Abu Dhabi and aligning to State Street’s global clients’ increasing presence in Abu Dhabi, the new operating hub will create more than 300 financial services roles over the next four years, providing meaningful career pathways for l
Arc'teryx Appoints Avery Baker Chief Brand Officer27.1.2026 15:00:00 CET | Press release
Technical apparel and equipment brand appoints first-ever Chief Brand Officer and names Tobia Prevedello General Manager, EMEA Arc'teryx Equipment, the global design company specializing in technical high-performance apparel and equipment, today announced the appointment of Avery Baker as its first-ever Chief Brand Officer, a newly created executive role that marks a significant step in the company’s global evolution. Baker joins Arc’teryx as it continues to unlock brand potential, elevate global capabilities, and fuel long-term growth across North America, EMEA, APAC, and Greater China. Additionally, Tobia Prevedello was appointed General Manager, EMEA, bringing more than 20 years of international leadership experience across EMEA and APAC. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260127462809/en/ Avery Baker, Chief Brand Officer As Chief Brand Officer, Baker will report to CEO Stuart Haselden and will lead global bra
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