ThetaRay, a specialist in AI-powered trusted global payments, has been implemented by Gemba Finance in a bid to tap into AI and harness the growth of the bank. 

As a result of the collaboration, SONAR is aiming to reduce regulatory exposure which frequently hampers growth at financial institutions.

Alexander Legoshin, CEO of Gemba Finance, commented on the collaboration: “As Gemba expands globally, it is critical that we reduce regulatory exposure, meet global standards and expectations as well as provide flexibility and agility to the compliance team. With ThetaRay we’re increasing our operational efficiency, improving customer satisfaction and increasing risk coverage – and that is powering our growth globally.”

Gemba’s platform looks to enable companies or communities to create a new bank online in under one day without coding, compliance, and infrastructural headaches. Key to the partnership is the ability to scale through ThetaRay’s AI-powered transaction monitoring and screening solution.

Peter Reynolds, CEO of ThetaRay, added on the deal and what it means for the sector: “As the financial crime battle continues to become more complex, fintechs and banks must adopt technology that can keep them ahead of evolving criminal tactics and strategies.

“Particularly here in the UK, a leading financial centre of the world, companies like Gemba are taking a leap forward in their AML capabilities and that is helping to build a trusted global payment system.”