ThetaRay Revolutionizes AI Financial Crime Detection with Screena Acquisition
NEW YORK, July 30, 2024 /PRNewswire/ -- ThetaRay, the leading provider of AI-powered financial crime detection technology, today announced the acquisition of next-generation European screening company, Screena. The acquisition demonstrates ThetaRay's continuous investment in proprietary technology and reaffirms its mission of enabling banks, fintechs, and regulators to detect financial crime with state-of-the-art AI solutions.
Screena helps financial institutions stop wrongdoers without afflicting legitimate parties. It screens individuals, companies, or other entities against numerous lists of sanctioned parties. This ensures compliance with international law and regulations while empowering global trade, protecting reputations, and delivering financial security.
ThetaRay, deployed in over 40 countries across six continents, is on a journey from being a leader in AI-powered Transaction Monitoring solutions to a cloud-based, end-to-end financial crime detection platform used by over 100 financial institutions including Santander, Payoneer, and Travelex. This strategic acquisition formalizes Screena's cutting-edge, cloud-based AI-driven screening solution as part of ThetaRay's product suite, providing financial institutions with an unparalleled, holistic view of transactional and customer screening risks.