NY-THETARAY/TRAVELEX
6.7.2022 14:02:05 CEST | Business Wire | Press release
ThetaRay , a leading provider of AI-powered transaction monitoring technology, today announced that Travelex Bank , Brazil’s largest foreign exchange specialist, will implement ThetaRay’s SONAR anti-money laundering (AML) SaaS solution for both domestic and international transaction monitoring, as well as real-time sanctions screening for its international payments.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220706005020/en/
Travelex Bank is one of the world’s leading specialist providers of foreign exchange, offering a range of international money transfer products including import/export, remittances and mass payments. SONAR will empower Travelex Bank to detect attempts to launder money or circumvent financial sanctions through its system, bringing trust and confidence to all parties in the global payments ecosystem. Additionally, SONAR will allow the company to roll out new products and services efficiently and in compliance with Brazil’s increasingly stringent regulations.
“Our responsibility is to simplify our customers' access to international money. ThetaRay’s SONAR will enable us to expand our product services portfolio and improve customer service while improving our overall AML operations,” said Célia Pizzi, Chief Compliance Officer, of Travelex Bank. “ThetaRay is the only provider we’ve found that meets our high business standards by providing both AI-based transaction monitoring and sanctions screening within one platform. SONAR will provide higher efficiency and secure risk coverage, enabling new businesses and lines of revenue.”
“Travelex Bank represents a new generation of global institutions that is readying its money transfer and payment infrastructure for changing conditions. Travelex is a provider that looks to the future and prioritizes trust, confidence, and quality,” said Mark Gazit, CEO of ThetaRay. “We are very proud and excited to build this partnership with Travelex that will help fuel growth of the global economy.”
SONAR is based on an advanced form of AI called “artificial intelligence intuition” to make better decisions with no bias or thresholds, offering fintechs and banks a risk-based approach to effectively identify truly suspicious cases and create a full picture of customer identities including across complex, cross-border transaction paths. This enables the rapid discovery of both known and unknown money laundering threats, with a peerless 95% detection rate and 99% reduction in false positives compared to rules-based solutions.
About Travelex Bank
Travelex is the world's largest exchange business specialist, with a presence in more than 20 countries. In Brazil, the Group consists of the brokerage Travelex Confidence and Travelex Bank, the first exclusive bank for foreign exchange transactions regulated by the Banco Central do Brasil (Bacen). Among the operations carried out by the bank, there are international remittances, imports, exports, crypto exchange transactions, registration services, banknotes, mass payments, among many others.
For more information, visit www.travelexbank.com.br
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.
For more information, visit www.thetaray.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220706005020/en/
Link:
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
The Premier Jumping League (PJL) & McCarthy Jumping Team Announce Landmark Purchase29.6.2026 15:10:00 CEST | Press release
With $50 Million Team Acquisition, McCarthy Jumping Team Becomes First PJL Ownership Group Acquisition illustrates strong investor confidence in the future of professional showjumping as highly anticipated 2027 inaugural season to feature 16 teams competing across 14 international events The Premier Jumping League (PJL) today announced that seasoned trader, investor, and competitive race car driver Jason McCarthy and McCarthy Jumping League LLC acquired the first PJL team in a landmark $50 million acquisition, building on rising momentum for the highly acclaimed professional jumping league. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260629512997/en/ The Premier Jumping League (PJL), photographed by Daniel Benson. The milestone investment represents an unprecedented valuation for a team in a newly established sports competition and underscores the confidence that sophisticated investors are placing in the PJL. The inaugur
InvestEco Sustainable Food Fund IV Holds a Final Close With Total Commitments of C$106M29.6.2026 15:00:00 CEST | Press release
InvestEco Capital is pleased to announce the final close of the InvestEco Sustainable Food Fund IV. This fund will continue InvestEco’s work of investing in high-growth food companies that promote health and sustainability in the food sector. The Fund closed with total commitments of C$106M, the largest InvestEco fund to date. Investors include Farm Credit Canada, Export Development Canada, Business Development Bank of Canada, Fonds de solidarité FTQ, and two Government of Canada Social Finance Fund wholesalers: Boann and Realize Capital Partners. In addition, the Fund received commitments from a number of private investors and family offices. The Fund's investments to date include Humble Snacks, Little Sesame, Mid-Day Squares and Algae Cooking Club. The Fund expects to make a further 6 - 10 investments over the next few years. InvestEco Capital, founded in 2002, is a Toronto-based venture capital firm and impact investor focused on the sustainable food sector. For more information, em
Geoswift and SKUx Announce Strategic Partnership to Develop a First-of-Its-Kind Programmable Stablecoin Commerce Network29.6.2026 14:00:00 CEST | Press release
Bridging digital assets, traditional finance, enterprise treasury, and agentic commerce through global programmable money infrastructure Geoswift and SKUx announced a groundbreaking partnership to develop a next-generation programmable stablecoin commerce network. This strategic collaboration bridges digital assets, traditional finance, and real-world commerce at a global scale, representing a "one-of-one" opportunity by combining Geoswift's global infrastructure with SKUx's specialized item-level controls directly within point-of-sale (POS) systems. While enterprise stablecoin usage continues to accelerate globally, governments, enterprises, payment networks, and AI-driven commerce platforms are increasingly seeking programmable payment infrastructure that can bridge digital assets with real-world commerce. The innovation goes far beyond treasury management or even enabling consumers to spend stablecoins at retail locations. Instead, it unlocks true "programmable money" with embedded
Esri Sponsors Smithsonian Exhibition Showcasing Natural and Cultural Objects from All 50 States29.6.2026 14:00:00 CEST | Press release
From These Lands Exhibition Highlights Connections Between People, Place, and Natural World Through Physical Specimens and Digital Maps Esri is the lead sponsor of the Smithsonian's From These Lands exhibition and developed maps powered by ArcGIS and a digital companion to extend engagement beyond the museum. The exhibition features more than 600 specimens and cultural artifacts from all 50 states, Washington, DC, and US territories, drawn from the Smithsonian's National Museum of Natural History's collection of over 148 million objects. Designed around themes of connection, diversity, and discovery, the exhibit explores how landscapes, ecosystems, and cultural traditions shape one another across regions and time. Animated mapping experiences enable visitors to explore topography, biomes, geology, migration patterns, and watersheds, revealing relationships across the continent. ArcGIS StoryMaps transforms the physical exhibit into an accessible digital narrative, extending its reach to
Cartilage Tissue Engineering Heads to Orbit in NSF and NASA-supported Study at the International Space Station29.6.2026 14:00:00 CEST | Press release
UC Irvine researchers use single cell RNA sequencing to study cartilage tissue engineered in microgravity Researchers in the DELTAi Lab at the University of California, Irvine, working with NASA, are using Evercode Cell Fixation to preserve samples aboard the International Space Station as part of a study of cartilage tissue engineering in microgravity. The unprecedented work, part of a National Science Foundation (NSF)-funded grant led by Dr. Wendy Brown and Dr. Kyriacos Athanasiou, announced today by Parse Biosciences, aims to advance treatments for the hundreds of millions of people worldwide affected by cartilage injury. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260629548658/en/ Rachel Nordberg, PhD, from the DELTAi Lab at UC Irvine, prepping the BioServe device before it goes into orbit. Cartilage injuries cause significant pain and disability, and the need for implants that can repair or regenerate damaged tissue
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