AI-powered financial crime detection specialist ThetaRay has acquired screening company Screena. Financial terms were not disclosed.
Screena helps banks and fintechs screen individuals, companies and other entities against numerous lists of sanctioned parties to ensures compliance with international law and regulations while protecting reputations, and delivering financial security.
The company's cloud-based AI-driven screening technology now becomes part of ThetaRay's product suite, providing financial institutions a holistic view of transactional and customer screening risks.
The deal is a milestone for ThetaRay on its journey from an AI-powered transaction monitoring specialist to a cloud-based, end-to-end financial crime detection platform.
The Israeli company, which last year closed a $57 million fundraising round, is now deployed in 40 countries across six continents, used by over 100 financial institutions including Santander, Payoneer, and Travelex.
Peter Reynolds, CEO, ThetaRay, says: "The acquisition of Screena is a significant milestone for ThetaRay as we continue our mission to power the global fight against financial crime by enhancing our offerings with the most advanced AI capabilities.
It furthers our commitment to delivering an end-to-end platform that enables banks, fintechs, and regulators to effectively identify financial crime - vital capabilities to grow and operate a financial institution today."