PMI Américas Selects ThetaRay for its Advanced Transaction Monitoring Solution

ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced that PMI Américas, a leading global payment services provider, has chosen ThetaRay’s AI-based SONAR SaaS solution to monitor global cross-border payments on PMI’s platform.

SONAR’s ability to detect the earliest signs of sophisticated money laundering activity will enable PMI to increase its growth opportunities by providing users with a trustworthy, secure service.

The agreement highlights ThetaRay’s expansion into the Latin America fintech payments market.

PMI Americas enables cross-border payments for Latin America, including significant transactions from the US, Europeand Asia into Latin America. By using ThetaRay’s solution, the company will be able to verify that processed transactions are isolated from illegal activity without affecting the quality of service their clients depend on.

“In the highly regulated ecosystem where we operate, it is important that our regulators and financial partners understand that we will always invest in state-of-the-art technology to protect our mutual interests,” said Alex Pereira, PMI Américas CEO and founder. “ThetaRay is one such example of PMI’s commitment to build a reliable and fraud-free ecosystem.”

Cross-border transactions often involve a complicated sequence of banks operating across multiple currencies in different countries, creating a challenge for fintechs and banks to have full transparency into beneficiaries. By providing full visibility across complex, cross-border transaction paths, ThetaRay helps protect users against the risk of being exploited for money laundering, terrorist financing, human trafficking, and narco-trafficking while empowering partners to increase their volume of transfers.

“We are proud to help PMI Américas tap new revenue streams and provide its B2B and P2P clients with practical, secure, and reliable payments processing,” said Mark Gazit, CEO of ThetaRay. “SONAR doesn’t just protect against money laundering threats. It also allows fintechs and banks to improve customer service and reduce financial inequality by offering services in traditionally unbanked regions. We look forward to the benefits this partnership will bring to the cross-border payment ecosystem.”

SONAR is the industry’s most advanced financial crime prevention solution for cross-border payments. It is based on an advanced form of AI called Artificial Intelligence Intuition that can mimic human feelings, perceptions, inferences, hypotheses and reasoning to make better decisions. This enables the rapid discovery of both known and unknown money laundering threats, with a peerless 95% detection rate and 90% reduction in false positives compared to rules-based solutions.