ThetaRay AI to monitor remittance transactions into Africa for Zeepay

ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced that Zeepay, a fast-growing Ghanian mobile financial services company, has selected ThetaRay’s advanced SONAR SaaS anti-money laundering solution to detect financial crime for its remittance transactions.

The agreement with Zeepay highlights ThetaRay’s expansion in the African payments market.

Remittances are an important method of bringing money into low-income countries and unbanked communities. However, they can also be used as a conduit for a financial crime for illicit funds. As remittances make up the majority of Zeepay’s business, the company needed to replace its previous rules-based monitoring solution with an AI-based solution capable of detecting the very first signs of even the newest and most sophisticated financial crime schemes.