THETARAY
ClearBank, the largest next-generation clearing and embedded banking platform in the UK, and ThetaRay, provider of AI-powered transaction monitoring technology, today announced they will collaborate in cloud-native anti-money laundering (AML) monitoring to protect ClearBank against financial crime with ThetaRay’s robust and industry-leading AI solution.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221129005168/en/
ClearBank logo
Through the agreement, ClearBank will transform its AML monitoring operations to a fully cloud-native program with ThetaRay’s SaaS SONAR AML solution. The cloud-native SONAR system will provide ClearBank the flexibility to scale and support faster and safer processing of increasing transaction volumes on its platform.
ClearBank is the first proven and fully regulated cloud-native clearing bank in the UK, operating with more than 200 financial institutions and fintech customers, 13 million accounts, and £3bn in balances.
“The ThetaRay AML system powered by artificial intelligence (AI) and machine learning technology will give us the edge that will enable us to win new financial partnerships and unlock the potential of our business model to bring positive and meaningful change for customers in the UK, Europe and beyond,” said Nigel Walder, Chief Operating Officer, ClearBank. “The ThetaRay risk-based analytical capabilities can detect hidden financial crime hidden within the data of transactions passing through complex financial networks, including known and unknown typologies.”
ClearBank selected ThetaRay as the best partner for its ability to deliver a SaaS solution with API-driven integration, scalability, and usability with an intuitive investigative tool for analysts for first-line analysis.
“We are honored to have a partner like ClearBank that is leading the banking innovation space by reducing costs and friction with cloud-native financial services. Our companies have great synergy, and we look forward to a long-term relationship to grow the financial industry,” said Mark Gazit, CEO of ThetaRay. “Our fully scalable SaaS solution empowers payment fintechs with operational benefits to achieve trusted global transactions without having to worry about the maintenance of additional infrastructure, while satisfying regulators, improving the customer experience, and quickly opening new revenue streams.”
ThetaRay’s award-winning SONAR solution is based on a proprietary form of AI, artificial intelligence intuition, that replaces human bias, giving the system the power to recognize anomalies and find unknowns outside of normal behavior, including completely new typologies. It enables fintechs and banks to implement a risk-based approach to effectively identify truly suspicious activity and create a full picture of customer identities, including across complex, cross-border transaction paths. This allows the rapid discovery of both known and unknown money laundering threats, and up to 99 percent reduction in false positives compared to rules-based solutions.
About ClearBank
ClearBank is a purpose-built clearing and embedded banking platform. Through its banking license and intelligent, robust technology solutions, ClearBank enables its partners to offer real-time payment and innovative banking services to their customers. ClearBank is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 754568).
Visit www.clear.bank for more information.
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/20221129005168/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
Ant Group Unveils China’s First Multimodal AI Assistant with Code-Driven Outputs18.11.2025 09:05:00 CET | Press release
Ant Group today launched LingGuang, a next-generation multimodal AI assistant and the first of its kind in China that interacts with users through code-driven outputs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251117438567/en/ Equipped with the capability to understand and produce language, image, voice and data, LingGuang delivers precise, structured responses to complex queries through 3D models, audio clips, charts, animations, interactive maps, and even immediately generated applications, in addition to traditional text-based conversation. Designed around three key features, LingGuang aims to make complex knowledge simpler and more intuitive, transforming how users access information and interact with AI tools. Fast Research: LingGuang responds to user questions or keywords with dynamic, multimodal content, making research on any topic clearer and more engaging. Its 3D digital modeling capability transcends traditio
SkySparc Appoints Oliver Bussmann as Chairman of the Board18.11.2025 09:00:00 CET | Press release
Appointment of industry veteran follows majority growth investment from Bregal Milestone SkySparc, a trusted global provider of digital transformation solutions for treasury and finance organizations, today announced the appointment of Oliver Bussmann as Chairman of the Board, following the closing of a majority growth investment from Bregal Milestone, a leading European software private equity firm. As former Global CIO at UBS and SAP, Bussmann has a proven track record of scaling B2B software and services across the Office of the CFO, Financial Services, RegTech, and WealthTech. Throughout his career, he has guided organizations through complex SaaS transitions, strategic M&A, and go-to-market acceleration – delivering multiple successful exits and sustained enterprise growth. Bussmann will help steer SkySparc’s technology and value-creation agenda, as Chairman, leveraging his network across financial services and technology to accelerate innovation, expand AI adoption, and drive lon
European Commission Grants Approval of Remsima™ IV Liquid Formulation, World’s First Liquid Formulation of IV Infliximab18.11.2025 08:23:00 CET | Press release
Remsima™ IV (intravenous) liquid formulation, the world’s first liquid formulation of IV infliximab has been approved by the European Commission (EC) for all previously approved indications for Remsima™ IV powder formulation1The approval is based on the comparability data between infliximab powder formulation and the liquid formulation2The new liquid formulation of infliximab, available in 100 mg and a newly introduced 350 mg presentation, eliminates the need for reconstitution and cuts drug preparation time by 51%, lowering preparation costs by 20%1,3Projected annual cost savings across seven European countries could reach up to €2.6 million, alongside significant improvements to workflow efficiency3 Celltrion, Inc. today announced that the European Commission (EC) has granted marketing authorization for Remsima™ IV (intravenous) liquid formulation, the world’s first liquid formulation of IV infliximab. Approved in 100 mg and 350 mg vials, the formulation is designed to streamline inf
Swiss-Based Debiopharm Seeks to Boost Innovation in Japanese Cancer Research Through the New "Ideal Japan” Program18.11.2025 08:00:00 CET | Press release
After 20 years of the prestigious JCA (Japanese Cancer Association) Mauvernay Award in Japan, Debiopharm is now transitioning its longstanding support for Japanese research to the new IDEAL Japan initiativeThe “Innovation Debiopharm Academia Life Science” (IDEAL) program is designed to financially and scientifically support academic research with the goal of accelerating the translation of innovation into novel therapies for patientsThe first IDEAL Japan agreement was signed with the National Cancer Center Japan Research Institute Laboratory of Genome Stability Maintenance to advance research in early-stage colon cancer Debiopharm (www.debiopharm.com), a Swiss biopharmaceutical company aiming to cure cancer and infectious diseases, is pleased to announce today the launch of the new IDEAL Japan initiative. This program was initiated to provide financial support to Japanese academic researchers in order to facilitate the transformation of academic innovation into novel therapeutic approa
Avanzanite Bioscience Secures €32M Series A Investment from MVM Partners18.11.2025 07:00:00 CET | Press release
MVM Partners joins as Avanzanite’s first institutional investor. Funding will scale Avanzanite’s existing infrastructure in all 32 countries in Europe, propel current launches, and support further product alliances and acquisitions. In just 3 years, Avanzanite has entered 3 strategic alliances and actively launched 3 rare disease medicines. Avanzanite’s Q3 2025 revenue tripled year-on-year and climbed over 20% quarter-on-quarter. Avanzanite is a unique, fully integrated partner for biotech and pharma innovators seeking to market and distribute their rare disease medicines in Europe. A new pan-European standard is being set for orphan medicine launches and patient access, with no one left behind. Avanzanite Bioscience B.V. (Avanzanite), a rapidly growing commercial-stage European specialty pharmaceutical company focused on rare diseases, today announced a €32 million Series A growth investment from MVM Partners (MVM), a leading global life-science private equity firm. This press release
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