ThetaRay

ThetaRay is a fintech startup that offers an AI-powered solution, SONAR, for Anti-Money Laundering (AML) transaction monitoring and screening. The company's primary market includes fintechs, banks, and regulatory bodies that require trust in both cross-border and domestic payments. ThetaRay's proprietary and patented algorithms efficiently detect anomalies in vast data sets, identifying suspected cases of money laundering with minimal false positives.

The company's business model is centered on providing a service that not only ensures regulatory compliance but also promotes financial growth. By accurately identifying risks, ThetaRay allows businesses to expand into countries and segments considered high risk. The AI system reduces the time spent on investigations by more than 50%, thereby decreasing the overall cost of compliance.

ThetaRay's solution is unique in its ability to detect unknown cases. The unbiased AI can recognize anomalies and find unknowns outside of normal behavior, including entirely new typologies. The system also significantly reduces false positives, with up to 99% fewer false positives compared to rules-based systems.

The company's solution has received positive feedback from customers, including Travelex Bank and ZeePay, for its impact on their businesses. ThetaRay's solution has enabled these companies to grow their volumes significantly and ensure safe, real-time remittance payments.

In summary, ThetaRay operates in the fintech market, serving banks, fintechs, and regulators with an AI-powered AML transaction monitoring and screening solution. The company makes money by providing a service that ensures regulatory compliance, reduces investigation time, and promotes business growth.

Keywords: Fintech, AI, Anti-Money Laundering, Transaction Monitoring, Regulatory Compliance, Anomaly Detection, Risk Identification, Cost Reduction, Business Growth, Cross-Border Payments.