Profile

ThetaRay transforms how banks, fintechs, payment service providers, and other financial institutions manage risk and detect financial crime, ushering in an AI-powered era of trusted transactions and customers. The company plays a pivotal role in the global fight against financial crime, supporting its customers’ growth while tackling major global issues such as human and drug trafficking and the counter-financing of terrorism.

Visit www.thetaray.com

Key Products

Transaction Monitoring takes a dynamic, risk-based approach to AML. Our proprietary AI analyzes the full path through which funds flow to detect anomalous behaviors. The solution’s alerts are fully explainable and unbiased, documenting each step, decision and risk indicator to provide a clear audit trail.

Transaction & Customer Screening combines real-time screening for transactions and customers – both at speed and at scale. ThetaRay’s API, powered by AI, accurately verifies names of people and organizations against vast watchlist databases and checks the counterparties in all financial transactions.

Customer Risk Assessment empowers banks and fintechs to improve their understanding of risk exposure associated with customers in real-time. The next generation of customer due diligence, ThetaRay ensures customer risk classification is automatically updated as soon as changes to customer behavior or activity occur.

Investigation Center is a case manager system that operationalizes anomalies by integrating real-time alerts from across the product suite. Analysts benefit from automated assignments that enhance their efficiency, enabling them to analyze data effectively with the support of visual analysis tools.

Key Executives

Peter Reynolds, Chief Executive Officer

Peter is an accomplished fintech executive with extensive experience at global companies such as Earnix and AimBrain, and joined ThetaRay as its Chief Revenue Officer, before being appointed CEO last year.

Barak Klein, Chief Financial Officer & General Manager

Prior to joining ThetaRay, Barak worked at the assurance business line of Ernst & Young Israel, with high tech companies in the Big Data, internet and communications industries, and as a management consultant at Mashik, an Israeli management consultancy firm associated with AT Kearny.

Dagan Osovlansky, Chief Product Officer

Dagan, ThetaRay’s Chief Product Officer since 2021, has over 20 years of experience in banking and banking technology. He previously held senior roles at Fundtech (which became Finastra Payments) and at Citi.

Professor Amir Averbuch, Co-Founder and Chief Academic Officer

Dr. Amir Averbuch is a seasoned researcher and professor emeritus of Computer Science. He serves as Chief Academic Officer at ThetaRay. In 2013 he co-founded ThetaRay with professor Ronald Coifman from Yale University, pioneering machine learning for financial crime detection.

Jeff Otten, Chief Revenue Officer

Jeff is a seasoned executive who was Senior Vice President and Global Head of Sales at Volante Technologies, a disruptive leader in the wholesale payments landscape.

Vered Gottesman, Chief Marketing Officer

Vered brings a track record in creating and accelerating marketing strategies for high-growth B2B SaaS companies, driving category leadership and brand recognition. Vered previously held marketing leadership roles at Curv (acquired by PayPal), Forter and Dataminr.

Dr. David Segev, Chief Scientist

David is a seasoned expert with over 15 years of experience in AI and machine learning, numerical analysis, and statistical data mining. Prior to joining ThetaRay, Dr. Segev served as Senior R&D Scientist at Siemens and held a key role in algorithm development and research at Elta in the aerospace industry.

Customer Insights

“It wasn’t a case of if, it was a case of when. Santander wanted to be at the forefront for detecting human trafficking. AI has made the haystack smaller, allowing us to find more needles that we might have historically missed.” – Stephen Jennings, Head of Transaction Monitoring, Santander UK

“I think that financial crime is a balancing act between risk coverage and doing it effectively and efficiently. I can confidently say ThetaRay allows us to do that.” – Yasemin Swanson, Chief Operating Officer, Clear.Bank

“The team is very excited to use an advanced artificial intelligence tool that can identify risks effectively and help us with the execution of our work.” – Danila Soterroni Rodrigues, Executive Compliance Manager, Travelex

“ThetaRay has become a vital partner for us in AML transaction monitoring. With a powerful tool in place we can minimize unnecessary alerts and compliance concerns, allowing us to focus on what truly matters, protecting our company and our customers.” – Elina Jeffremova, AML Manager, Shift4

“I think what ThetaRay set apart for us was the collaboration of the relationship. They wanted to be a partner with us and not a vendor. We’re able to maneuver their system in a very efficient and speedy manner to meet our needs effectively and keep our focus.” – Micheal Sheehy, Chief Compliance Officer, Payoneer

Investors

In September 2023, ThetaRay announced its Series D funding round, raising $57M from investors led by Portage Ventures, as well as JVP and OurCrowd.

Earlier funding rounds included investment from Bank Hapoalim, Benhamou Global Ventures, Saints Fund, SBT, SVB Investments, and General Electric.

Competitors

• Nice Actimize


• Verafin


• SAS

Corporate Responsibility

ThetaRay is a purpose-driven company dedicated to powering the AI-driven fight against financial crime. The company addresses critical issues, including human and drug trafficking and counter-financing of terrorism. By tackling real-world challenges, ThetaRay empowers ethical banking and supports the flow of funds that spur economic growth and reduce inequalities.

The company has an Environmental, Social, and Corporate Governance (ESG) policy in place, promoting global environmental awareness and prioritizing the health, safety, and well-being of its employees. ThetaRay is committed to reducing its environmental impact, encouraging responsible resource use, and ensuring long-term business sustainability. Additionally, the company has a formal sustainability management program and upholds ethical relationships with employees, suppliers, customers, and local communities where its offices are located. Strict internal controls are in place to ensure robust governance measures.

As a global company, ThetaRay fosters a diverse, equal, and inclusive environment, embracing people of different ages, races, ethnicities, abilities, disabilities, genders, religions, cultures, and sexual orientations under the ethos of “One ThetaRay team.”