ClearBank uporablja ThetaRay za rešitev Sonar AML, ki izvira iz oblaka

UK-based clearing and embedded banking platform ClearBank has selected ThetaRay and its Software-as-a-Service (SaaS) Sonar solution as it looks to shore up its anti-money laundering (AML) protections.

ClearBank will utilise the fully cloud-native Sonar solution for AML monitoring, providing it with the flexibility to support faster and safer processing of increasing transaction volumes as the firm scales.

Sonar leverages artificial intelligence (AI) to recognise anomalies and “unknowns outside of normal behaviour”, creating a full picture of customer identities across complex, cross-border transaction paths, with a 99% reduction in false positives compared to rules-based solutions.

ClearBank chief operating officer (COO) Nigel Walder says: “The ThetaRay AML system powered by AI and machine learning technology will give us the edge that will enable us to win new financial partnerships and unlock the potential of our business model.”

Walder adds ThetaRay’s risk-based analytical capabilities can detect financial crime “hidden within the data of transactions passing through complex financial networks, including known and unknown typologies”.

ClearBank supports more 200 financial institutions, including Chip, Rozine in Prepoznajte banko, with 17.5 million bank accounts and £3 billion held in balances.

In March, the firm zagotovljenih 175 milijonov funtov in a funding round led by Apax Digital, and in September it hired Andrew Barker as its new chief revenue officer (HRV).

ThetaRay has secured a number of partnerships this year with firms including MFS Afrika, Arca, Apollo Fintech in Banka Mashreq.