- ThetaRay, a leading name in the international money transfer sector, has announced that it has won a prestigious prize – the AML Solution Provider of the Year Award, at the Middle East Banking AI & Analytics 2022 event.
- The event was attended by bankers and other executives in the Middle East and consultants and financial technology firms.
- "We are proud to receive this award recognizing our solution's ability to keep financial organizations a step ahead in the battle on financial crime," said a spokesperson for the company.
ThetaRay, a provider in the international money transfer sector, has been awarded a prestigious prize.
The firm has been told that it has won the AML Solution Provider of the Year Award.
The award was given as part of the Middle East Banking AI & Analytics 2022 event.
The summit, held in Dubai in the United Arab Emirates, happened last week.
It was attended by a group of bankers and other executives in the Middle East, as well as consultants and financial technology firms.
It was designed to look at big data and how that intersects with artificial intelligence and analytics.
ThetaRay is known in the industry for its offer, which includes solutions designed to enable banks and financial technology companies to build trust in their international money transfers.
It's designed to tackle issues such as terrorist financing and cyber-attacks.
In a statement, the Chief Executive Officer of ThetaRay said that the anti-money laundering solution offered by the company gave players in the sector the chance to create new relationships.
Mark Gazit explained that it also had a positive potential effect on customer satisfaction.
" Our true AI-based AML solution allows banks and fintechs to form new relationships, drive revenues, and improve customer satisfaction while ensuring their payment network is safe and secure from financial criminals," he explained.
He also said that the company was looking forward to working together with other institutions in the relevant regions, including Asia and the Gulf.
"We are looking forward to collaborating with financial institutions throughout the Gulf region, Middle East and Asia to build a new network of trust and inclusion in today's growing global financial ecosystem," he said.
Another spokesperson for the company explained more about the context in which ThetaRay works and the threats that it can help to tackle.
The Vice President for Regulatory Affairs at the company, Yaron Hazan, said that cyber-attacks were "advanced" in terms of methods.
"Today's financial criminals use advanced methods including cyber engineered attacks that require an AI-powered risk-based approach," he said.
He added that the company worked to ensure that its clients were "a step ahead" when it came to financial crime.
"We are proud to receive this award recognizing our solution's ability to keep financial organizations a step ahead in the battle on financial crime," he explained.
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