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ThetaRay, Google Cloud tackle AML
AI-based solutions provider ThetaRay disclosed June 15, 2021, that SONAR, its anti-money laundering (AML) solution for cross-border payments, is available as a subscription service on Google Cloud. The solution is designed to help financial institutions, fintechs and third-party service providers detect and mitigate money laundering activities in cloud-based environments, representatives from both companies stated.
Mark Gazit, chief executive officer at ThetaRay, observed a recent spike in new attack vectors, as money launderers, human traffickers and criminals took advantage of pandemic-related disruptions. “As a product-driven company, we are excited to offer a solution that accelerates speed-to-value and reduces the cost of acquisition, and we are thrilled to partner with Google Cloud to solve industry challenges that have been difficult to solve with previous generations of technology,” he said.