Startup ThetaRay – Ventures Media

Funding & investors

ThetaRay has received 8 rounds of venture funding. The total funding amount is around $66.5M.

ABN AMRO Ventures (Corporate venture capital)
Jerusalem Venture Partners (JVP) (Private equity firm)
SVB Capital (Fund of funds)
OurCrowd (Venture capital)
General Electric (GE)
Contact us if you are interested to see all 10 investors

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ThetaRay - Blog

The Unbearable Ease of Laundering Money

With over 4000 leaked SARS that were involved with 2000 banks, turns out most of the SARs were related to cross border activity, a well-known “blind spot” in the banking world. Over the past several years, large schemes revealed the financial systems failure- with billions of dollars remaining undetected and unreported. The list of SARs also revealed the inadequacy of the system, banks and FIUs to fulfill their obligation of identifying, reporting, and making effective use of the SARs, which is standard procedure. If most activities remain undetected, and the ones detected and reported did not lead to an expected outcome, what is the purpose of this mechanism? Who will be held responsible to prevent financial crimes? Key questions are usually re-surfaced when large schemes are published: Most of these schemes go un-detected and unidentified while banks continue to cater to these customers. All regulators and large banking organizations suchThe post The Unbearable Ease of Laundering Money appeared first on THETARAY.

The Bad Actors are Taking the Correspondent Banking Route

Global economy is facing real challenges with cross border payments, Financial Institutions lost trust in their counter-parties and their AML controls, De-risking and slow business are no longer needed-with ThetaRay financial institutions can gain trust back and support growth with confidence.The post The Bad Actors are Taking the Correspondent Banking Route appeared first on THETARAY.

What’s Worse Than the Unknown? The Unknown Unknown

Across the globe, the C-suite of financial institution fear the unknown. In fact, most of us fear the unknown but FI executives can get into serious regulatory, legal, financial and reputational hot water – especially with unknown unknowns. What do I mean by that? In simplest terms, an unknown unknown is an unspecified threat that is also undiscovered. Some of the largest fines imposed on financial institutions over the last two decades were because of unknown unknowns – the financial institution knowing neither that an event had occurred nor what it was until it was too late. Some of the largest criminal “wins” to date were unspecified schemes where the bad actor had a dwell time of years. In fact, many times, an unknown unknown event is only discovered because a conspirator confesses or gives up his cronies. To bring this home, imagine playing craps in a casino. You’re soThe post What’s Worse Than the Unknown? The Unknown Unknown appeared first on THETARAY.

Using Practical Data Science to Solve Real-World Correspondent Banking Challenges

I think you all know that correspondent banks are required to meet specific regulatory obligations while maintaining their correspondent relationships, as well as meet general compliance obligations to report suspicious activity, prevent money laundering, and comply with economic sanctions. A mouthful but true, nonetheless. Although the Legacy AML and traditional AI systems, in place at banks monitor customer activity, this approach is not effective for monitoring flow of funds that aren’t related to the bank’s own customers. Moreover, these systems are based on rules that incorporate preset scenarios with conditions and thresholds looking for patterns that are known. We do it differently. Our IntuitiveAI for correspondent banking analyzes SWIFT messages without setting any predefined condition or threshold. Historical data is used to learn what is “normal” in terms of transactions and data flow and then detect anomalous activity with respect to that normal. This approach enables complex patterns of behaviorThe post Using Practical Data Science to Solve Real-World Correspondent Banking Challenges appeared first on THETARAY.

What do Quantum Physics and Correspondent Banking Relationships Have in Common?

My banker told me that, in theory, managing his relationship with regulators and respondent banks is straightforward. Then he paused and said, “Actually, about as straightforward as explaining quantum physics to a five-year old.” And he’s right. Both understanding quantum physics and correspondent banking relationship obligations are tough. Quantum Physics makes sense of the smallest things in nature – how the billions of sub-atomic particles work together. Correspondent banks need to make sense of even the smallest transactions in a financial network and work together with their respondent banks to reduce financial crime risks. Quantum physics tries to prove there is ‘weirdness’ at the subatomic level which indicates the existence of multiple universes. Correspondent banks have to prove they are complying with both multiple universes of regulations, as well as its own risk management obligations. In Quantum physics reality is complex, not fixed and shifting. For Correspondent banks the realityThe post What do Quantum Physics and Correspondent Banking Relationships Have in Common? appeared first on THETARAY.