ThetaRay has integrated with Microsoft Azure OpenAI Service to develop a GenAI financial crime detection suite.
AI-powered financial crime detection specialist ThetaRay says the integration with Microsoft delivers a GenAI-powered case manager that enables institutions to detect financial crime, adapt strategies over time, and easily meet legal reporting standards.
The newest GenAI features are designed to streamline operations across various business areas, such as risk detection, investigation support, quality assurance, and reporting. ThetaRay says it ensures consistency in how risks are evaluated across n organisation, updating to reflect new threats and trends.
Peter Reynolds, CEO, ThetaRay, says: "We are excited to continue to deepen our collaboration with Microsoft, using their Azure OpenAI Service to enhance our vision of enabling trusted transactions across the financial ecosystem."
Yina Arenas, VP, Azure AI, Microsoft, adds: "ThetaRay’s integration with Azure OpenAI Service delivers a solution that empowers financial institutions to enhance key components of their AML efforts, like oversight, reporting, and risk catalogue processes.
"By integrating generative AI in their financial crime detection solutions, organizations can mitigate risk, drive exceptional efficiencies, and elevate regulatory standards."