Business Wire

Divilo Selects ThetaRay AI Solution to Monitor Global Payments for Financial Crime

Share

Divilo, a Spain-based fintech providing B2B financial services, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced they will collaborate to protect Divilo’s growing services against money laundering, sanctions violations, and other financial crimes.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230111005086/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Divilo provides financial products developed to facilitate collection for SME companies and the self-employed. (Photo: Business Wire)

Through the agreement, ThetaRay will provide Divilo its SONAR solution, a SaaS-based AML transaction monitoring and sanctions list screening platform, for domestic and cross-border payments. Divilo provides 100% digital financial services to SMEs and the self-employed.

ThetaRay’s advanced SONAR system can detect the earliest signs of sophisticated money laundering activity, allowing Divilo to provide a trusted and reliable payment service as it expands internationally.

“As consumers continue to adopt digital payments and reduce cash transactions, Divilo is on a mission to transform payment and collection by providing greater agility, a better user experience, high-security measures, transparency, and simplicity,” said Juan Guruceta, Divilo founder and CEO. “Using ThetaRay’s AML solution, we will be able to grow our network of relationships and increase business internationally with the assurance that next-generation AI detection will provide enhanced coverage and highly accurate alerts to allow businesses to focus on what really matters”.

Divilo is a Spanish fintech offering financial products developed to facilitate collection for SME companies and the self-employed. This company has traditional solutions, such as cards and transfers, but also offers solutions to manage payments through mobile phones, using PINs or QR codes. Last year, Divilo launched Diveep, a solution that allows charging via a mobile phone by tapping a card or another mobile phone.

“Divilo is a fintech leader providing valuable and innovative payment solutions that are growing the global financial system,” said Mark Gazit, CEO of ThetaRay. “ThetaRay is thrilled to provide Divilo with technology that instills trust into cross-border payments, enabling revenue growth by opening doors to business with new customers and financial partners. Our advanced AI solution also makes the entire process of transaction monitoring much more efficient and effective, while improving customer satisfaction, reducing compliance costs, and increasing risk coverage with safe and secure payments.”

ThetaRay’s award-winning SONAR solution is based on a proprietary form of AI, artificial intelligence intuition, that replaces human bias, giving the system the power to recognize anomalies and find unknowns outside of normal behavior, including completely new typologies. It enables fintechs and banks to implement a risk-based approach to effectively identify truly suspicious activity and create a full picture of customer identities, including across complex, cross-border transaction paths. This allows the rapid discovery of both known and unknown money laundering threats, and up to 99 percent reduction in false positives compared to rules-based solutions.

About Divilo

Divilo is a payments entity registered in the Bank of Spain with Lic. No. 6905 that offers a 360º solution in payments, collections and accounting to companies and freelancers. Founded in January 2020 by Juan Guruceta, it is a Principal Member of VISA and has a multidisciplinary team of 27 people with extensive experience in the fields of technology, finance and regulatory compliance.

The technological revolution has led to a process of digitalization of the economy that has resulted in the birth of a generation of entities that offer 100% digital financial services. This is the case of the well-known Fintechs, which have a more competitive, convenient, and agile structure compared to traditional banking, in which users benefit from greater agility and a better user experience, high security measures, transparency and simplicity in procedures, among others.

About ThetaRay:

ThetaRay's AI-powered SONAR transaction monitoring solution, based on “artificial intelligence intuition,” allows banks and fintechs to expand their business opportunities and grow revenues through trusted and reliable cross-border payments. The groundbreaking solution also improves customer satisfaction, reduces compliance costs, and increases risk coverage. Financial organizations that rely on highly heterogeneous and complex ecosystems benefit greatly from ThetaRay's unmatchable low false positive and high detection rates.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Nina Gilbert, ThetaRay
nina.gilbert@thetaray.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Global Partners Announce Innovations for Marine Managers to Help Our Oceans With Private Sector Support From Mary Kay Inc.8.2.2023 18:03:00 CET | Press release

Ocean conservation managers and practitioners, global experts, and high-level officials are convening for the Fifth International Marine Protected Area Congress (IMPAC5) from February 3-9 in Vancouver, Canada, to take a stand to protect the ocean. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230208005180/en/ MPAth, short for Marine Protected Area Tool Hub, is a free online resource for seascape stakeholders at every level. It uses the same problem-solving matrix honed by marine experts to guide users through a learning journey and help them address their most pressing challenges on sustainable livelihoods, financing, effectiveness, and climate change. (Credit: UN Environment Programme) IMPAC5 is known as the preeminent conference for the exchange of knowledge within the global community of marine conservation managers, practitioners, and decision makers. It provides the opportunity to highlight the latest science and share

Morgan Stanley Hosts First Global Demo Day for Startups in Inclusive Ventures Lab8.2.2023 16:23:00 CET | Press release

Morgan Stanley (NYSE: MS) today is hosting its first global in-person Demo Day, with 10 participating companies from the US and Europe, the Middle East and Africa (EMEA). The cohort companies, all founded by women, will pitch over 200 investors, as well as potential business partners and customers. Over the past five months, Morgan Stanley’s Inclusive Ventures Lab has supported its eighth cohort of technology-enabled startups in the post-seed to Series A funding round stage, offering an intensive accelerator program designed to provide a variety of mentorship opportunities and business-growth resources from across the Firm’s network. “We are on a mission to change the investing landscape for underrepresented founders. Through our accelerator program we are providing promising startups with much-needed capital, the broad resources of Morgan Stanley and access to investors,” said Selma Bueno, Managing Director and Global Head of the Inclusive Ventures Group. “Today’s Demo Day showcases i

Dawex, Fraunhofer ISST and TNO Agree to co-Propose a Pre-Standardization Program on Trusted Data Transaction8.2.2023 16:00:00 CET | Press release

The French data exchange tech company Dawex, the German research organization Fraunhofer ISST and the Dutch research organization TNO, today announced they have reached an agreement to co-propose a workshop program from the European Committee for Standardization (CEN) on Trusted Data Transaction, initiating a standardization process. To tackle economic, environmental and societal challenges, public and private organizations, large corporations and SMBs are taking full advantage of the explosion of data, and are increasingly distributing, accessing and sharing data within emerging data ecosystems. Data transactions are expected to grow exponentially in the coming years, requiring clear frameworks to organize, simplify, and secure the exchange of data, in compliance with regulatory requirements. Trust is a cornerstone of data exchange as it cements the relationship and drives collaboration between all parties involved in the data transactions. To better understand the scope and implicati

DEWA is the first utility in the world to enrich its services with ChatGPT technology8.2.2023 15:54:00 CET | Press release

HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) announced that DEWA is working to enrich its services with ChatGPT technology supported by Microsoft. This will make DEWA the first utility globally and the first UAE government entity to use this new technology. This is part of DEWA’s continuous efforts to promote its leadership locally and globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230208005591/en/ DEWA is the first utility in the world to enrich its services with ChatGPT technology (Photo: AETOSWire) The announcement was made as HE Saeed Al Tayer received Naim Yazbeck, General Manager of Microsoft UAE. The move underlines DEWA’s pioneering successes in all digital areas and is a continuation of its use of Artificial Intelligence (AI), which started in 2017 by developing an AI roadmap. DEWA has already launched various services and initiatives that use AI to enrich the experi

Large Real-World, Multi-Center Study Demonstrates Viz.ai Platform Saves Critical Minutes in Stroke Care8.2.2023 15:15:00 CET | Press release

Viz.ai, the leader in AI-powered disease detection and care coordination, and TeleSpecialists LLC, a physician-owned management service organization committed to providing exceptional emergent and non-emergent neurology and psychiatric patient care via telemedicine, announced new data presented today at the International Stroke Conference (ISC) from the VALIDATE (Validation of Artificial intelligence to LImit Delays in Acute stroke Treatment and Endovascular therapy) study. The study demonstrated that hospital utilization of Viz’ AI-powered care coordination platform was associated with a 39.5 minute reduction in patient arrival to time of first contact with the neurointerventionalist for need for potential emergency endovascular treatment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230208005564/en/ VALIDATE Study: Median Arrival to Neurointerventionalist Notification Times (Graphic: Business Wire) “In the world of strok