Linking up to Make your Transactions Safe and Sound


As smart as human beings are known to be, we have a known knack of making mistakes. Now, you can argue that these mistakes actually play a big role in fuelling our growth over time, but notably enough, we have also encountered situations where the cost of our errors was just too big, therefore forcing us to look for a fitting remedy. The stated remedy will arrive in the form of dedicated regulatory bodies. Having a supervisory eye like that within each and every area across the board was a game-changer. However, it didn’t last for very long, and the main reason behind that was technology. Technology ended up bringing an expansive set of problems into the picture by offering rule breakers a shot at hiding their misdoings rather effortlessly. This, of course, would diminish the regulatory authority, and consequentially, cause regression around everything we achieved on the back of a more organized world. Fortunately, we’ll manage to keep ourselves from throwing the towel. Talk about we made that possible, the regulatory industry, instead of trying to fight technology, went out and befriended it. Next up, the authorities molded the creation in such a way that it suddenly became a threat for all the rule breakers. This dynamic has, in fact, grown stronger in the recent past, and one particular partnership should only give it a further edge.

ThetaRay, a leading provider of AI-powered transaction monitoring technology, has officially entered into a partnership with Qolo. According to certain reports, the partnership is focused on detecting and preventing financial crimes across Qolo’s collection of payment services. An omnichannel platform enabling the seamless movement of money from a single API, Qolo is best-known for being a first-party provider of core payment functionality, and the first and only 100% cloud-based issuing processor. While the company’s technology already boasts a lot in terms of sheer value, ThetaRay can still bring a unique dimension into play here. Under the agreed arrangement, it will provide Qolo with its SONAR anti-money laundering (AML) SaaS solution, which is capable of monitoring transactions like worker disbursements, multi-currency business processing, and more

The reason why ThetaRay is the perfect partner in this context is mainly because of the company’s methodology. By deploying a proprietary “artificial intelligence intuition” machine-learning methodology, ThetaRay effectively analyzes risk indicators associated with financial crimes for both domestic and cross-border payments. If certain available details are to be believed, the company’s technology enjoys a whopping 95% success rate.

“We are dedicated to enabling fast, agile and secure payment solutions in the name of future-proofing our clients,” said Patricia Montesi, CEO at Qolo. “ThetaRay’s solution reduces false positive alerts while identifying the earliest signs of true money laundering activity, helping further our commitment to remove pain points historically found in the industry and better establish trust for this next generation of innovators.”


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