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
Rubedo’s RLS-1496 Reduces Actinic Keratosis Pre-Cancerous Skin Lesions by 46% at Four Weeks with Minimal Irritation in Preliminary Results of Phase 1b/2a Study28.5.2026 14:30:00 CEST | Press release
RLS-1496 is an investigational, first-in-class, disease-modifying, selective glutathione peroxidase 4 (GPX4) modulator that targets pathologic senescent and other stressed, aging cells that drive chronic, age-dependent diseases, such as AK, and represents a novel drug category — Adaptive SenoTherapeutics In recognition of May as Skin Cancer Awareness Month, Rubedo is calling attention to the myths and facts surrounding AKs — and to the urgent need for a new generation of treatments that are effective without the side-effect burden of today's options Rubedo Life Sciences, Inc. (Rubedo), an AI-driven, clinical-stage biotech focused on selective cellular rejuvenation medicines targeting aging cells, today announced preliminary results from a Phase 1b/2a study of RLS-1496 in patients with actinic keratosis (AK), a common age-related condition resulting in precancerous skin lesions, that is most commonly seen after age 65.1 The open-label multi-center trial, conducted in the United States,
ExaGrid Wins 5 Industry Awards at Network Computing Awards 202628.5.2026 14:00:00 CEST | Press release
ExaGrid named “Company of the Year” for seventh year in a row ExaGrid®, the world’s largest independent backup storage vendor providing Tiered Backup Storage with the most Comprehensive Security and AI-Powered Retention Time-Lock for Ransomware Recovery, today announced that company was honored with five industry awards, including Air-gapped Ransomware Recovery Product of the Year, Bench Tested Product of the Year, Company of the Year, Data Protection Product of the Year, and the Storage Product of the Year during the Network Computing Awards ceremony, held in London on May 21, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260528849813/en/ The ExaGrid team headed to the stage five times throughout the Network Computing Awards ceremony in London to accept awards for ExaGrid Tiered Backup Storage. Photo courtesy of Network Computing Awards. The Network Computing Awards are determined by public vote. The 2026 awards mark
Ardoq Launches AI-First Enterprise Architecture Platform28.5.2026 14:00:00 CEST | Press release
Custom Agents, Omnipresent AI Assistant, and AI Import Builder Automate an Estimated 40% of Routine EA Work; Tenneco Already Achieving 292% ROI on Ardoq AI Ardoq, named a 5x Leader in the Gartner® Magic Quadrant™ for Enterprise Architecture Tools, today launched its AI-first enterprise architecture (EA) platform. The release grounds every Ardoq AI output in customers' live architecture data and introduces a new generation of AI agents capable of automating an estimated 40% of routine EA work. Architects today are being asked to defend decisions that generic AI is generating in seconds. Application rationalization choices. ERP transformation roadmaps. AI governance reviews. The questions land on the architect's desk, but the analysis underneath increasingly comes from AI assistants that do not know the architecture. Generic agents reason on whatever document is in front of them, not on the live relationships between applications, dependencies, capabilities, and risks. Ask a generic LLM
European DataWarehouse Launches DealDox®, a Next-Generation Virtual Data Room Built specifically for the Securitisation Market28.5.2026 14:00:00 CEST | Press release
European DataWarehouse (EDW) announced today the launch of DealDox®, a secure virtual data room uniquely tailored to the needs of the securitisation and structured finance market. Developed in response to long‑standing challenges around transaction data and document management, DealDox provides a single, secure environment where all parties throughout the deal lifecycle can collaborate efficiently while maintaining high standards of security, governance, and regulatory alignment. DealDox enables the centralised management of transaction data and documentation, offering robust security, granular access controls, and clear audit trails. The platform integrates seamlessly with EDW’s existing regulatory reporting ecosystem, supporting smoother workflows from deal preparation through to disclosure and compliance. “As a market infrastructure, our role is to reduce complexity and make processes simpler and more transparent for all participants,” said Dr. Christian Thun, CEO of European DataWa
SLB and Vår Energi Expand Digital Collaboration to Scale Well and Integrated Field Development Planning28.5.2026 13:47:00 CEST | Press release
Agreement supports Vår Energi’s ambition to reduce time to first oil, building on multi-discipline, collaborative well planning workflows that reduce cycle times from months to days Global energy technology company SLB (NYSE: SLB) today announced an expanded collaboration with Vår Energi to scale well planning and integrated field development planning across its Norwegian Continental Shelf operations. With collaborative well planning already reducing cycle times from months to days and integrated field development planning expected to support similar benefits, the expanded deployment is designed to support faster, more consistent decision-making as operators work to sustain production from mature offshore assets while managing increasing development complexity. As part of the expanded collaboration, Vår Energi is deploying the Delfi™ digital platform to connect exploration, subsurface evaluation, well planning, subsea design, field development planning, and production in a cloud-native
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