- Divilo announced that it would partner with ThetaRay as part of a push to improve its transaction monitoring process for its business-to-business transaction provision.
- It will receive access to the SONAR system offered by ThetaRay.
- “ThetaRay is thrilled to provide Divilo with technology that instills trust into cross-border payments, enabling revenue growth by opening doors to business with new customers and financial partners,” said a senior spokesperson for ThetaRay.
Divilo, a provider of business-to-business financial services, has confirmed that it will be working with ThetaRay’s AI-led transaction monitoring service to help with its online money transfer service.
Divilo said it would partner with ThetaRay as part of a push to improve its transaction monitoring process. The goal is to reduce the risk of money laundering and sanctions violations.
Divilo is a Spanish-based company that focuses on self-employed workers and small firms and offers its services digitally.
It will receive access to the SONAR system offered by ThetaRay, a software service application designed to help firms adhere to their anti-money laundering regulations.
Divilo's Founder and CEO Juan Guruceta said that customers were taking on digital payments as part of an ongoing process and were moving away from cash.
“As consumers continue to adopt digital payments and reduce cash transactions, Divilo is on a mission to transform payment and collection by providing greater agility, a better user experience, high-security measures, transparency and simplicity,” he said.
He added that the company intended to expand its “network of relationships” through this arrangement.
“Using ThetaRay’s AML solution, we will be able to grow our network of relationships and increase business internationally with the assurance that next-generation AI detection will provide enhanced coverage and highly accurate alerts to allow businesses to focus on what really matters,” he explained.
ThetaRay CEO Mark Gazit described its new partner Divilo as offering “valuable and innovative” payment options and that tech provided by his firm would bring trust into proceedings.
“ThetaRay is thrilled to provide Divilo with technology that instills trust into cross-border payments, enabling revenue growth by opening doors to business with new customers and financial partners,” he explained.
There are many different methods of money transfer to consider. To get more details about how the sector works, just head over to our global business transfers pages and see what you can learn.