Latest news with #CognitiveAI
Finextra
11-06-2025
- Business
- Finextra
Former NatWest CEO Alison Rose, IDB chair Ilan Kaufthal and ex-Chase CRO Marshall Lux Join ThetaRay
ThetaRay, a global leader in Cognitive AI financial crime compliance solutions, today announced the appointment of three distinguished financial industry leaders to its Advisory Board: Dame Alison Rose, Ilan Kaufthal, and Marshall Lux. 0 Their combined expertise in banking, risk management, and strategic growth will help guide ThetaRay's mission to safeguard the global financial system with cutting-edge cognitive AI technology. 'These Advisory Board appointments signal a seismic shift in the financial industry, one that embraces AI as a key driver to confront financial crime, but also to revitalize correspondent banking and cross-border payments,' said Erel Margalit, Chairman of ThetaRay. Three finance heavyweights joining us is a powerful endorsement, not just of Cognitive AI's potential to revolutionize AML efficiency, but of ThetaRay's bold vision to transform compliance into a growth enabler while exposing criminal activity.' The appointments represent the most senior executives to date to join the team. Their decision to align with ThetaRay affirms the growing recognition that cognitive AI is the next frontier in financial crime compliance. ThetaRay's Advisory Board provides a distinct advantage by infusing top-tier industry expertise into the evolution of intelligent, context-aware AML solutions. Dame Alison Rose, former CEO of NatWest Group, brings over three decades of experience in banking, regulatory leadership, and driving purpose-led innovation. She became the first woman to lead a major UK bank and is globally recognized for championing responsible finance and inclusion. 'Building trust is the cornerstone of modern banking,' said Dame Alison Rose, 'As financial crime grows more sophisticated, so must our response. ThetaRay's Cognitive AI offers not just innovation, but integrity and I'm proud to support a company redefining what secure, inclusive finance looks like on a global scale.' Ilan Kaufthal, former Vice Chairman of Investment Banking at Bear Stearns, Chairman of East Wind Advisors, and Chairman of IDB Bank, is a prominent strategist with a track record of scaling high-growth companies and advising on governance. He has long been an advocate for responsible banking and technology-driven compliance. 'I'm confident ThetaRay's technology solves a core challenge in modern banking by strengthening threat detection and optimizing operations,' said Kaufthal. 'I look forward to helping expand the company's reach and strategic vision.' Marshall Lux, a 40-year veteran in financial services and former Chief Risk Officer at JP Morgan Chase Consumer Products, is a board member of Flagstar, a major public regional bank. Lux's appointment not only strengthens ThetaRay's strategic governance but also deepens its alignment with the needs of banks seeking scalable, future-ready financial crime compliance solutions. 'Financial crime is evolving faster than most institutions can react, and traditional tools are losing the race,' said Marshall Lux. 'Having advised institutions of every size, I've seen how outdated systems limit growth and expose risk. ThetaRay's Cognitive AI is a leap forward that brings the clarity and adaptability this industry urgently needs.' 'These are visionaries who've shaped the frontlines of finance and share our belief in Cognitive AI as the key to a safer, stronger financial ecosystem,' said Peter Reynolds, CEO of ThetaRay. 'Their insights will help drive our global expansion and support our clients in fighting financial crime while enabling business growth.'
Yahoo
04-06-2025
- Business
- Yahoo
Payments firm Spayce deploys ThetaRay's AI monitoring solution
Cross-border payments platform Spayce has partnered with ThetaRay to implement Cognitive AI transaction monitoring in its payment infrastructure. The collaboration aims to address the complexity of financial threats and enhance payment security globally. The integration of ThetaRay's monitoring solution is designed to improve Spayce's financial crime detection capabilities. By analysing transaction data, the system can detect suspicious activities and expose intricate financial crime schemes. Spayce, serving a wide range of clients in over 200 countries, is expected to benefit from this 'AI-first' strategy by strengthening its compliance framework. The partnership promises to provide Spayce with visibility into transaction flows, maintaining the integrity of transaction speed and customer experience. ThetaRay CEO Peter Reynolds said: 'Financial crime is evolving rapidly, and the technology used to combat it must evolve even faster. Our partnership with Spayce unites robust payment infrastructure with ThetaRay's Cognitive AI to deliver proactive risk mitigation, greater transparency, and the trusted cross-border transactions needed to power global growth.' Spayce partner and co-founder Debra LePage stated: 'As Spayce expands its global payments capabilities, security and AML compliance remain at the core of our mission. Partnering with ThetaRay empowers us to stay ahead of increasingly sophisticated financial threats, while continuing to deliver seamless, trusted payment experiences for our customers worldwide.' Spayce's platform, which facilitates vendor payouts, global payroll, eCommerce settlements, and real-time B2P and B2B payments, operates through its existing APIs, hosted checkout solutions, and merchant portal. "Payments firm Spayce deploys ThetaRay's AI monitoring solution " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Finextra
03-06-2025
- Business
- Finextra
ThetaRay and Spayce bring cognitive AI to bare on financial crime compliance
ThetaRay, a global leader in Cognitive AI financial crime compliance, and Spayce, a cross-border payments platform, today announced a strategic partnership to combat evolving financial threats and enhance global payment security. 0 The collaboration will be officially unveiled at Money 20/20. The announcement comes at a time when the financial crime landscape is undergoing a dramatic transformation. As criminal networks grow more sophisticated and agile, operating with the complexity of multinational corporations, traditional rule-based anti-money laundering (AML) systems are increasingly outpaced. These outdated tools often miss hidden threats, allowing illicit activity to slip through undetected and exposing institutions to regulatory, financial, and reputational risk. Spayce has deployed ThetaRay's Cognitive AI Transaction Monitoring solution into its global payments infrastructure to enhance its financial crime detection capabilities. ThetaRay's solution uses Cognitive AI to continuously analyze the vast volumes of transaction data, detecting nuanced suspicious activity, and uncovering complex financial crime schemes with exceptional accuracy. This AI-first approach not only strengthens compliance but empowers Spayce to scale securely, turning regulatory readiness into a foundation for sustainable growth. Spayce, which serves clients ranging from SMBs to large financial institutions in over 200 countries, now gains deeper visibility into transaction flows without compromising speed or customer experience. The result is a smarter, faster, and more secure global payments ecosystem, one where compliance no longer slows expansion, but actively enables it. 'Financial crime is evolving rapidly, and the technology used to combat it must evolve even faster,' said Peter Reynolds, CEO of ThetaRay. 'Our partnership with Spayce unites robust payment infrastructure with ThetaRay's Cognitive AI to deliver proactive risk mitigation, greater transparency, and the trusted cross-border transactions needed to power global growth.' 'As Spayce expands its global payments capabilities, security and AML compliance remain at the core of our mission,' said Debra LePage, Partner & Co-Founder of Spayce. 'Partnering with ThetaRay empowers us to stay ahead of increasingly sophisticated financial threats, while continuing to deliver seamless, trusted payment experiences for our customers worldwide.'
FF News
03-06-2025
- Business
- FF News
ThetaRay and Spayce Partner to Combat Financial Crime and Secure Global Payments with Cognitive AI
ThetaRay, a global leader in Cognitive AI financial crime compliance, and Spayce, a cross-border payments platform, today announced a strategic partnership to combat evolving financial threats and enhance global payment security. The collaboration will be officially unveiled at Money 20/20. The announcement comes at a time when the financial crime landscape is undergoing a dramatic transformation. As criminal networks grow more sophisticated and agile, operating with the complexity of multinational corporations, traditional rule-based anti-money laundering (AML) systems are increasingly outpaced. These outdated tools often miss hidden threats, allowing illicit activity to slip through undetected and exposing institutions to regulatory, financial, and reputational risk. Spayce has deployed ThetaRay's Cognitive AI Transaction Monitoring solution into its global payments infrastructure to enhance its financial crime detection capabilities. ThetaRay's solution uses Cognitive AI to continuously analyze the vast volumes of transaction data, detecting nuanced suspicious activity, and uncovering complex financial crime schemes with exceptional accuracy. This AI-first approach not only strengthens compliance but empowers Spayce to scale securely, turning regulatory readiness into a foundation for sustainable growth. Spayce, which serves clients ranging from SMBs to large financial institutions in over 200 countries, now gains deeper visibility into transaction flows without compromising speed or customer experience. The result is a smarter, faster, and more secure global payments ecosystem, one where compliance no longer slows expansion, but actively enables it. 'Financial crime is evolving rapidly, and the technology used to combat it must evolve even faster,' said Peter Reynolds, CEO of ThetaRay. 'Our partnership with Spayce unites robust payment infrastructure with ThetaRay's Cognitive AI to deliver proactive risk mitigation, greater transparency, and the trusted cross-border transactions needed to power global growth.' 'As Spayce expands its global payments capabilities, security and AML compliance remain at the core of our mission,' said Debra LePage, Partner & Co-Founder of Spayce. 'Partnering with ThetaRay empowers us to stay ahead of increasingly sophisticated financial threats, while continuing to deliver seamless, trusted payment experiences for our customers worldwide.' Companies In This Post ThetaRay Spayce
Irish Times
26-05-2025
- Business
- Irish Times
Why we decided to relocate the headquarters of our AI company from the US to Ireland
Earlier this month, Central Bank of Ireland governor Gabriel Makhlouf issued a warning that the Trump-era tariffs could pose fresh challenges for Ireland's economy and have consequences for foreign direct investment coming from the United States . These concerns are valid and deserve serious attention. But as the chief executive of Partsol, a US AI company that made the decision this year to relocate our global headquarters from the US to Ireland, I'd offer a different perspective rooted in our lived experience. Partsol's move to Ireland didn't happen despite the global uncertainty or because of who sits in the White House. It happened because of Ireland's stability, its deep alignment with European regulatory clarity and its position as a bridge between the best of American innovation and the rigour of European accountability and regulation. READ MORE Ireland offered the right mix of ambition and assurance – a rare and valuable combination in a world where both are in short supply. Partsol is not your average AI company. Our technology – what we call Cognitive AI – is the next stage in AI's evolving journey and is specifically engineered for high-stakes sectors where the cost of error is too high to tolerate. Specifically these are healthcare, law, accounting and financial services. What makes our platform different is that it doesn't 'hallucinate'. It's engineered with what we describe as AI Stem Cells, drawing from the four pillars of foundational science to ensure every output is based on verifiable truth. That means there are no fabrications, no guesswork. You can't build this kind of technology in a vacuum. It requires robust oversight, scientific transparency and, above all, a regulatory environment that doesn't just permit innovation but actively, and ethically, guides it. That's where Ireland, and by extension Europe, stands out. Regulation is often cast as the enemy of innovation, a brake on progress or a drag on agility. I reject that view entirely. Frameworks such as the EU's AI Act and GDPR don't slow us down. On the contrary, they speed us up – not by removing friction, but by replacing uncertainty with clarity. These are not merely bureaucratic guardrails that are holding up the show, they are trust-building tools that enable long-term growth and adoption. Partsol made its decision to move to Ireland during one of the more turbulent moments in recent transatlantic economic relations, not as an act of risk mitigation, but as a signal of our long-term strategy. We are a US company and are enormously proud of that fact, but where others might see volatility, we see vision. The EU's principled approach to AI and digital governance, embodied by Ireland's leadership on these issues, gave us the confidence to invest, grow and scale from here. We're already putting that commitment into practice. Partsol is in the process of hiring 25 highly-skilled team members in Ireland this year alone. We've already raised $28.6 million (€25.2 million) in funding and are on track to raise roughly double that again this year. Our ambition is to build the world's most reliable, most transparent, most scientifically-grounded artificial intelligence platform – and do it from Ireland. Of course, Ireland's appeal goes beyond policy. Its talent pool is exceptional, particularly in data science and engineering. The universities here are producing world-class graduates, and the local tech ecosystem is both intellectually rigorous and entrepreneurially dynamic. There's a unique cultural chemistry at work in Ireland, an openness to new ideas, matched by a healthy scepticism that insists on integrity and evidence. That suits us just fine and, no doubt, it will continue to suit other similarly minded US businesses irrespective of our own domestic politics. None of this is to say that we should ignore the macroeconomic threats. The global economic terrain is shifting, and no country, Ireland included, is immune to its tremors. But what matters most in moments of change is not just resilience, but direction. Is a country simply weathering the storm, or is it steering toward something greater? Ireland, in my view, is doing the latter. It has made deliberate, thoughtful choices about regulation, about talent and education, and about economic openness that make it positioned to continue to thrive even amid the present global uncertainty. The Trump tariff era, with all its disruption, has ironically highlighted just how valuable this kind of principled consistency can be. For US companies looking abroad, the decision about where to grow isn't just about tax rates or access to markets. It's also about trust, stability and a shared purpose. It's about finding a place where the rules align and make sense, where the people are brilliant and where the future is being built with both ambition and care. That's why Partsol is here and that's why, despite the warnings, we are optimistic that Ireland's role as a pro-innovation, pro-regulation gateway to Europe will not just endure, it will continue to thrive. Darryl Williams is the CEO and founder of Partsol
