ThetaRay: AI to monitor remittance transactions into Africa for Zeepay
- ThetaRay is the provider of SONAR, the AI-powered AML transaction monitoring solution that allows payment fintech
- Announced that Zeepay has selected an advanced SONAR SaaS anti-money laundering solution
- 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 the 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
- AI technology with the ability to prevent financial crimes is essential to fintech companies like Zeepay
