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
Bentley Systems Announces Winners of the 2026 Year in Infrastructure Awards7.10.2026 19:55:00 CEST | Press release
New cycle of AI-enabled innovation is helping engineers solve harder problems faster (The Bentley Systems 2026 Year in Infrastructure Event) – Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced the winners of the 2026 Year in Infrastructure Awards. For more than 20 years, the awards have honored the extraordinary work of infrastructure professionals and their innovative use of Bentley software to improve how infrastructure is designed, built, and operated. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261007964087/en/ Bentley Systems announced the winners of the 2026 Year in Infrastructure Awards on October 7, 2026 (Photo courtesy of Bentley Systems) In 2026, over 300 projects were nominated by organizations in 53 countries. Winners were selected across 12 categories spanning the infrastructure lifecycle, industries, and disciplines by a panel of independent judges
Day One Strategy Founders Recognised in The LDC Top 50 Most Ambitious Business Leaders for 20267.10.2026 19:00:00 CEST | Press release
Hannah Mann and Abigail Stuart, Co-Founders of Day One Strategy have been recognised as one of The LDC Top 50 Most Ambitious Business Leaders for 2026. The programme was created by private equity investor LDC, part of Lloyds Banking Group, in partnership with The Times. Since 2018, it has celebrated the ambition and achievements of hundreds of exceptional entrepreneurs. This year The LDC Top 50 attracted more than 620 nominations from across the UK, highlighting the depth of ambition among leaders building successful businesses in every region and sector. The leaders featured are driven by an appetite for growth that is helping to build stronger, more sustainable businesses and a more competitive UK economy. They are expanding internationally, developing new products and services, challenging established markets and investing in their people. Together, their businesses generate £1.4bn in annual revenues and employ almost 8,500 people. Headquartered in 55 towns and cities, they demonstr
TestMu AI Adds Evidence Packs to Kane CLI, Turning Every AI Test Run into One Portable, Shareable File7.10.2026 16:29:00 CEST | Press release
Each run now seals its test definition, step-by-step screenshots, console and network logs, and failure records into a single .evidence file that teams can view, share, validate, and merge. TestMu AI (formerly LambdaTest), the Full Stack Agentic AI Quality Engineering platform, announced evidence packs for Kane CLI, its terminal-first tool for natural language browser and mobile app testing. Every Kane CLI run now produces one sealed .evidence file that holds the complete record of what the AI agent was asked to do, what it did at each step, and what happened. Kane CLI launched in April 2026, giving developers and AI coding agents a way to run tests on real browsers and mobile apps from the terminal, in plain English, with a clear pass-or-fail verdict. Since launch, it has added AI-powered test case generation and the Assurance Lifecycle, which ties tests back to requirement documents. Evidence packs are the next step: a full record of every run. As AI agents write and run more tests,
Medisca and EUROAPI Form Strategic Partnership to Strengthen API Access for Pharmaceutical Compounding7.10.2026 16:07:00 CEST | Press release
This partnership brings together EUROAPI’s European pharmaceutical manufacturing capabilities and Medisca’s compounding expertise to expand access, strengthen its API portfolio and advance collaboration in peptides. Medisca and EUROAPI have formed a strategic partnership focused on expanding API access for pharmaceutical compounding, creating differentiated access in North America and establishing a broader framework for international growth and peptide collaboration. For more than three decades, Medisca has built its business around the evolving needs of pharmaceutical compounders. That starts with the products it chooses to bring to market but extends much further to the manufacturers behind them, the documentation and technical information supporting them, and the quality systems that carry those products through to the customer. The partnership with EUROAPI advances that approach. Under the new strategic partnership, Medisca becomes EUROAPI’s first strategic distribution partner fo
iQmetrix Launches Vendor Managed Inventory Integration with Valor Communication7.10.2026 16:00:00 CEST | Press release
The addition of Valor Communication marks another step in the rapid expansion of the iQmetrix Partner Ecosystem, bringing clients a growing network of integrated partners that work natively inside the platform they already run their business on. iQmetrix, the global provider of Intelligent Commerce Operating Systems for telecom, is launching a Vendor Managed Inventory integration with Valor Communication, a factory-direct wireless accessory manufacturer and distributor serving carriers, retailers, and dealers since 1997. Built into the iQmetrix Intelligent Commerce Operating System, the integration connects Valor's assortment directly to the platform telecom retailers already run their business on – so replenishment runs on real sell-through data instead of guesswork, and approved accessories move from Valor's floor to the peg without manual reordering. The integration will be available to retailers across the iQmetrix client base. The addition of Valor Communication marks another step
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