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March 30, 2020

ThetaRay Joins Microsoft’s One Commercial Partner Program

NEW YORKMarch 30, 2020 — ThetaRay, a provider of AI-based Big Data analytics, announced that it has joined Microsoft’s partner program, One Commercial Partner, which offers cloud-based solutions. As a result, ThetaRay’s AML (Anti-Money Laundering) for Correspondent Banking solution is now available on Microsoft’s Azure Marketplace, where a major U.S. bank has already signed an agreement to use it. ThetaRay and Microsoft will also partner on marketing initiatives, events, blog posts and other activities.

“We are proud to join the One Commercial Partner program and offer Microsoft Azure customers access to our industry-leading AML for Correspondent Banking solution,” said Mark Gazit, CEO of ThetaRay. “Global banks are increasingly de-risking or abandoning their correspondent banking relationships due to a lack of transparency and fears of money laundering and regulatory fines. Our solution provides banks with the game-changing ability to reverse the trend and grow their business by allowing full visibility into all links of the cross-border payment chain, from originator to beneficiary.  We look forward to building upon our relationship with Microsoft by offering additional solutions in the future.”

While the correspondent banking network offers convenience for customers seeking international reach, it enables criminals to disguise money laundering activity through shell companies or structure accounts that look legitimate. Criminals can also use low-risk countries as intermediaries before the money reaches its final destination. Further complicating matters presently is the coronavirus (COVID-19) crisis, which many global banking executives fear is going to result in a spike of sophisticated financial cyber-crime. Existing AML systems cannot detect new types of money laundering patterns, because they rely upon historical rules implemented by banks to create alerts when known threats are detected. They also create massive amounts of false positives, which increase overall operational costs.

ThetaRay’s rules-free AML for Correspondent Banking solution uses an advanced form of AI called Artificial Intuition to identify anomalies in SWIFT and KYC data that point to money laundering. Artificial Intuition mimics human feelings, perceptions, inferences, hypotheses and reasoning in order to make better decisions. This enables rapid discovery of new and unfamiliar schemes (the “unknown unknowns”), enables early remediation, and ensures that money launderers cannot simply learn and bypass static rules and thresholds as they do to outwit legacy systems.

Microsoft Azure enables a quick and easy deployment of ThetaRay’s advanced solutions, in addition to easy data storage utilizing Azure Data Lake and flexible scalability that is extremely useful for an AML solution that requires considerable processing power during batch processing but not the rest of the time.

About ThetaRay

ThetaRay is dedicated to helping clients at large financial organizations, cybersecurity divisions and critical infrastructure become more resilient and seize opportunities. Its advanced analytical solutions operate with unprecedented speed, accuracy and scale, enabling clients to manage risk, detect money laundering schemes, uncover fraud, expose bad loans, uncover operational issues and reveal valuable new growth opportunities. To learn more about ThetaRay, visit

About Microsoft

Microsoft enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

Source: ThetaRay 

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