THETARAY
ThetaRay, a leading provider of AI-powered transaction monitoring technology, announced today that Ontop, a fintech platform shaping the future of work, has selected ThetaRay’s advanced SONAR anti-money laundering (AML) solution to monitor and detect both known and unknown financial crime threats.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221206005061/en/
Team Ontop is shaping the future of work. (Photo: Business Wire)
Headquartered in Miami, Florida, Ontop was founded in 2020 to solve the complications with cross-border payments for workers who went remote during the COVID-19 pandemic, as well as open new opportunities for companies to tap into global talent. The platform is already being used in 67 countries and is currently processing payments all over the world.
“The biggest pain points in cross-border payments are high costs and a lack of speed and transparency. The next-gen AI solution from ThetaRay will give our business confidence by covering known and unknown crime typologies,” said Julian Torres, Chief Strategy Officer, and co-founder of Ontop. “The machine learning will also deliver operational efficiency and help customer satisfaction by reducing false positives and more accurately identifying truly suspicious cases.”
“Ontop is a global leader in the new digital economy that is creating financial opportunities for companies and people through remote work,” said Mark Gazit, CEO of ThetaRay. “We are proud to partner with an innovative fintech that is helping remove barriers in the financial world. ThetaRay AI tech will give Ontop the ability to process payroll transfers smoothly and quickly, meet any regulatory compliance requirements, and win the trust of business partners.”
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 Ontop
Ontop helps companies hire their international remote workers legally and pay them easily. With their solution, they offer companies to streamline remote hiring, compliance, and international payroll services in minutes. For more information, visit getontop.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.
For more information, 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/20221206005061/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
E4LIFE19.4.2024 17:14:35 CEST | Press release
“e4life” is Present at Expomed Eurasia with its Innovative Device Able to Inactivate Flu and Covid Viruses With an Efficacy over 90%
CA-QUALCOMM-INCORPORATED19.4.2024 15:01:33 CEST | Press release
Qualcomm Schedules Second Quarter Fiscal 2024 Earnings Release and Conference Call
CO-NEWMONT-CORPORATION19.4.2024 14:57:33 CEST | Press release
Newmont Appoints Mining Industry Veteran Francois Hardy as Chief Technology Officer
TX-SLB19.4.2024 12:51:33 CEST | Press release
SLB Announces First-Quarter 2024 Results, Targeting to Return $7 Billion to Shareholders Over 2024–2025
CO-ZAYO-GROUP19.4.2024 09:01:30 CEST | Press release
Zayo Group Appoints New CEO of Zayo Europe
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