February 6, 2017

ANOMALY DETECTION INNOVATOR THETARAY REINFORCES COMMITMENT TO FINANCIAL SECTOR WITH APPOINTMENT OF JAMES HEINZMAN Sungard Alum Will Serve As EVP Of Financial Services Solutions NEW YORK, NY, February 7, 2017— ThetaRay, a global leader in big data anomaly detection, today announced that risk and compliance expert James Heinzman has joined the company’s executive management team as EVP of Financial Services Solutions. Mr….

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Why compliance isn’t enough

February 2, 2017

Just last week, Western Union settled their money laundering charges with a staggering $586M fine. When you consider that 20% of the Western Union payroll is dedicated to compliance, it’s amazing that the world’s leading money transfer provider was unable to prevent illegal activity at this level. It’s not that there is a lack of regulation around money laundering. AML legislation…

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“Unknown New Year’s Resolutions”

December 30, 2016

“After numerous calculations and fine tuning from our top security mechanisms, our predictions and latest analysis show that in the forthcoming year our bank will suffer a multi-million dollar scam that won’t be generated by robbers that heist a safe, but rather by sophisticated hackers sitting on the other side of the globe with their laptops to create one of the…

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AML and Banks (Part1): The Rising Cost of Money Laundering

December 8, 2016

Money laundering, the drug economy, and terrorist financing all pose serious threats to the global financial system. Due to rapid developments in technology and communication, money can be moved easily and quickly to anywhere in the world. Combating money-laundering is more urgent than ever. Criminal enterprises generate around $300 billion annually in the United States, and money laundering is its by-product.  Due…

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The Marriage of Big Data Analytics and Banks: A Match Made in Heaven

November 10, 2016

The marriage between financial institutions and data analytics is clearly one that works.  When big data analytics work well, banks can quickly identify actionable insights in real time. This allows them to build meaningful solutions for business-critical decisions and  realize valuable data and  insights that translate into serious business value. The story begins with data and the current threat landscape -…

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ThetaRay at Money 20/20

November 3, 2016

Last week, the ThetaRay team attended the Money 20/20 conference in Las Vegas. The conference has quickly become a major event for the financial industry, bringing more than 10,000 professionals to the show this year. Perhaps the biggest takeaway is that in 2016, we’re no longer speaking theoretically about what could happen to a company should it experience a cyber attack…

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Predix Transform 2016: Pioneering the Industrial Internet of Things

August 23, 2016

The key indicator of success for any new technology is whether or not it solves a real business problem. Is it just a case of overly-hyped ‘cool, nice-to-have’ technology or is it an important evolutionary step that provides answers to real problems? GE’s Predix Transform Conference in July, “the world’s first developer conference for industrial IoT,” showcased technologies and solutions that…

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The Changing Role of the Chief Risk Officer

July 21, 2016

Chief Risk Officers have historically been associated with restriction and control. However, as the role evolves, they are increasingly becoming crucial decision-makers in the executive suite. Today’s CROs lead the process of integrating risk and crisis management with internal controls, allowing organizations to better anticipate emerging and operational risks.  But it hasn’t always been this way. The modern CRO is…

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ATM Fraud: The Evolution of a Modern Epidemic

July 7, 2016

ATM fraud is a growing epidemic that is not going away anytime soon. From brute force to hi-tech hacking techniques, how did this phenomenon evolve and, more importantly, what should banks be doing to stop ATM criminals from cashing in – at everyone’s expense. Dirty yet effective In just a decade fraud has evolved from crude crowbar or explosive-style robbery into a…

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Big Data, Formula 1, and Banks

June 23, 2016

  I recently watched a Formula 1 race and noticed that the Red Bull racing team uses big data and analytics to monitor and convey anomalies back to the driver in real-time. The data gathered directly impacts driving performance and the driver’s safety, thus securing the racing team’s investment – car and driver. How does it work? Sensors are fitted throughout the car…

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About ThetaRay

ThetaRay is a leading provider of a big data analytics platform and solutions for advanced cyber security, operational efficiency, and risk detection, protecting financial services sectors and critical infrastructure against unknown threats. ThetaRay’s core technology is based on state of the art algorithms, which power its proprietary Hyper-Dimensional, Multi-Domain Big Data Analytics platform. Organizations whose operations rely on highly heterogeneous and complex environments leverage ThetaRay’s unmatched detection and low false positive rates as a see-all power that enables them to unify detection and defeat the unknown.