Latest news with #ThetaRay
Yahoo
26-06-2025
- Business
- Yahoo
BGV Closes Opportunity Fund II to Back the Next Generation of Human-Centric Enterprise AI Leaders
MENLO PARK, Calif., June 26, 2025 (GLOBE NEWSWIRE) -- BGV, a leading early-stage venture capital firm, today announced the successful closing of Opportunity Fund II. In a selective VC fundraising environment, the close of this fund reflects strong investor conviction in BGV's differentiated thesis: investing at the intersection of Human-Centric Enterprise AI and cross-border innovation. Opportunity Fund II reinforces BGV's commitment to supporting visionary founders building scalable, AI-native solutions that amplify human judgment, drive enterprise transformation, and enable responsible innovation. The fund will provide follow-on capital and strategic resources to high-performing portfolio companies, helping them accelerate growth and global scale. 'Closing Opportunity Fund II is a strong vote of confidence in our strategy and belief that Human-Centric AI will define the next era of enterprise value creation,' said Eric Benhamou, Founder and General Partner at BGV. 'AI should augment—not replace—human capabilities. That's how we build more trusted and sustainable technology.' The fund has already backed several standout companies, including: ThetaRay, an AI-powered cybersecurity platform enabling real-time detection of financial crimes across cross-border payments; Evinced, which is redefining digital accessibility using AI to make enterprise software inclusive and compliant; AiDash, which uses satellite imagery and AI to help utilities and infrastructure operators drive sustainability through intelligent vegetation and asset management. At the core of BGV's thesis is Enterprise 5.0—a new generation of startups harnessing intelligent automation to enhance human potential. 'As AI shifts from infrastructure to real-world applications, success will come from thoughtful deployment that empowers people,' added Yash Hemaraj, General Partner at BGV. 'Enterprise 5.0 is about building AI-native companies with purpose and accountability.' To further support this vision, BGV released the AI Native Startup Playbook, a practical guide for founders building responsible, scalable enterprise AI companies. The playbook, available at is informed by BGV's decades of operating experience and leadership in the Ethical AI Governance Group (EAIGG). About BGVBGV is an early-stage venture capital firm investing in enterprise technology startups that leverage cross-border innovation and Human-Centric AI. With offices in Menlo Park, Paris, Tel Aviv, and Bengaluru, BGV partners with global founders to turn bold ideas into market-defining companies. Media Contact:emmanuel@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
25-06-2025
- Business
- Finextra
I&M Bank tightens financial crime controls with ThetaRay
ThetaRay, a global leader in Cognitive AI financial crime compliance, today announced a landmark partnership with I&M Group PLC, a leading Regional Financial Services Group in Africa. 0 The partnership will see the deployment of ThetaRay's advanced AML (Anti-Money Laundering) platform across I&M Group's operations in Kenya, Tanzania, Rwanda, Uganda, and Mauritius. This implementation spans the entire compliance lifecycle, from onboarding and sanctions screening to dynamic customer risk assessment, transaction monitoring, alerting, investigations, and regulatory reporting. Consolidating multiple processes into a single unified system will allow I&M Group to move beyond fragmented and manual compliance operations, to a centralized, AI-powered framework capable of scaling across multiple jurisdictions and business lines. Commenting on the partnership, Jamie Loden, I&M Bank Chief Operating Officer, stated: 'ThetaRay distinguishes itself as a genuine AI-driven solution, setting a new standard for managing financial crime risk. Its sophisticated technology brings together disparate compliance tasks into one streamlined system, empowering our teams to achieve greater accuracy and respond rapidly to AML threats.' The partnership underscores I&M Group's strategic commitment to building a next-generation compliance infrastructure that supports both regulatory resilience and scalable regional expansion. 'As East Africa's regulatory landscape rapidly evolves, with central banks emphasizing intelligence-led oversight and digital reporting, this collaboration with ThetaRay positions I&M at the forefront of proactive risk governance,' noted Zipporah Gitau, Group Chief Risk and Compliance Officer at I&M Group. 'By transforming how we detect, assess, and report financial crime, we are building a dynamic compliance foundation that not only meets today's regulatory demands but powers our growth across the region.' ThetaRay's platform will replace siloed legacy systems with a single, holistic compliance architecture. The rollout will cover key use cases including retail and corporate banking, trade finance, investment banking, capital markets, remittance, and e-wallet services. It incorporates ThetaRay's latest innovations, such as the Generative AI Risk Catalog, enabling compliance teams with a smarter, faster way to manage evolving regulatory and operational risk. Pre-configured and continuously updated, it enables institutions to deploy relevant, explainable and regulator-aligned risk typologies at scale. Sibos| FFNews Peter Reynolds, CEO of ThetaRay, said: 'This proactive move by I&M Group reflects a strong commitment to operational excellence and regulatory agility. By adopting ThetaRay's full-stack platform, I&M Group is setting a new benchmark in East Africa, proving that AI-first compliance can be both a shield against financial crime and a catalyst for growth. This is a model for how forward-thinking banks can stay resilient and build trust in the face of emerging risks.'
Yahoo
25-06-2025
- Business
- Yahoo
I&M Bank Partners with ThetaRay to Deploy Full Cognitive AI Financial Crime Compliance Platform Across East Africa
In a comprehensive regional rollout, ThetaRay's end-to-end AML platform will be deployed across I&M Group, integrating screening, transaction monitoring, investigations, and reporting to enhance financial crime detection and regulatory readiness NAIROBI, Kenya & NEW YORK, June 25, 2025--(BUSINESS WIRE)--ThetaRay, a global leader in Cognitive AI financial crime compliance, today announced a landmark partnership with I&M Group PLC, a leading Regional Financial Services Group in Africa. The partnership will see the deployment of ThetaRay's advanced AML (Anti-Money Laundering) platform across I&M Group's operations in Kenya, Tanzania, Rwanda, Uganda, and Mauritius. This implementation spans the entire compliance lifecycle, from onboarding and sanctions screening to dynamic customer risk assessment, transaction monitoring, alerting, investigations, and regulatory reporting. Consolidating multiple processes into a single unified system will allow I&M Group to move beyond fragmented and manual compliance operations, to a centralized, AI-powered framework capable of scaling across multiple jurisdictions and business lines. Commenting on the partnership, Jamie Loden, I&M Bank Chief Operating Officer, stated: "ThetaRay distinguishes itself as a genuine AI-driven solution, setting a new standard for managing financial crime risk. Its sophisticated technology brings together disparate compliance tasks into one streamlined system, empowering our teams to achieve greater accuracy and respond rapidly to AML threats." The partnership underscores I&M Group's strategic commitment to building a next-generation compliance infrastructure that supports both regulatory resilience and scalable regional expansion. "As East Africa's regulatory landscape rapidly evolves, with central banks emphasizing intelligence-led oversight and digital reporting, this collaboration with ThetaRay positions I&M at the forefront of proactive risk governance," noted Zipporah Gitau, Group Chief Risk and Compliance Officer at I&M Group. "By transforming how we detect, assess, and report financial crime, we are building a dynamic compliance foundation that not only meets today's regulatory demands but powers our growth across the region." ThetaRay's platform will replace siloed legacy systems with a single, holistic compliance architecture. The rollout will cover key use cases including retail and corporate banking, trade finance, investment banking, capital markets, remittance, and e-wallet services. It incorporates ThetaRay's latest innovations, such as the Generative AI Risk Catalog, enabling compliance teams with a smarter, faster way to manage evolving regulatory and operational risk. Pre-configured and continuously updated, it enables institutions to deploy relevant, explainable and regulator-aligned risk typologies at scale. Peter Reynolds, CEO of ThetaRay, said: "This proactive move by I&M Group reflects a strong commitment to operational excellence and regulatory agility. By adopting ThetaRay's full-stack platform, I&M Group is setting a new benchmark in East Africa, proving that AI-first compliance can be both a shield against financial crime and a catalyst for growth. This is a model for how forward-thinking banks can stay resilient and build trust in the face of emerging risks." About ThetaRay ThetaRay harnesses the power of Cognitive AI for financial crime compliance, enabling financial institutions to precisely identify legitimate customers while flagging bad actors. The SaaS solutions overcome the limitations of traditional rule-based systems by shortening long implementation lifecycles, enabling efficient, risk-aware compliance operations. By transforming compliance from a regulatory obligation into a driver of growth, ThetaRay allows institutions to scale faster and expand confidently into new markets. By uncovering hidden criminal networks and delivering actionable insights, ThetaRay empowers organizations to combat evolving threats, maintain positive regulator relationships, and enhance customer experiences. Implemented at some of the world's leading financial institutions including Santander, Clear Bank, Mashreq Bank, Payoneer, Onafriq and Travelex, ThetaRay helps financial institutions thrive, fostering trust and confidence across the global financial ecosystem. I&M Group PLC I&M Group has a long-standing presence in the Kenyan market with presence in banking, insurance and real estate. The Group offers a full range of banking and financial services covering corporate, business and personal banking, wealth management, bancassurance and advisory services with presence spanning across five countries in Kenya, Uganda, Tanzania, Rwanda and in Mauritius through a joint venture with CIEL Group (Bank One). I&M Group PLC is regulated by the Central Bank of Kenya, Capital Markets Authority of Kenya and the Nairobi Securities Exchange. For more information visit View source version on Contacts Media Contact: pr@ I&M Bank Media Contact Seline AwuorAg. Group Head of Marketing & Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
25-06-2025
- Business
- Business Wire
I&M Bank Partners with ThetaRay to Deploy Full Cognitive AI Financial Crime Compliance Platform Across East Africa
NAIROBI, Kenya & NEW YORK--(BUSINESS WIRE)-- ThetaRay, a global leader in Cognitive AI financial crime compliance, today announced a landmark partnership with I&M Group PLC, a leading Regional Financial Services Group in Africa. The partnership will see the deployment of ThetaRay's advanced AML (Anti-Money Laundering) platform across I&M Group's operations in Kenya, Tanzania, Rwanda, Uganda, and Mauritius. "This collaboration with ThetaRay positions I&M at the forefront of proactive risk governance.' Share This implementation spans the entire compliance lifecycle, from onboarding and sanctions screening to dynamic customer risk assessment, transaction monitoring, alerting, investigations, and regulatory reporting. Consolidating multiple processes into a single unified system will allow I&M Group to move beyond fragmented and manual compliance operations, to a centralized, AI-powered framework capable of scaling across multiple jurisdictions and business lines. Commenting on the partnership, Jamie Loden, I&M Bank Chief Operating Officer, stated: 'ThetaRay distinguishes itself as a genuine AI-driven solution, setting a new standard for managing financial crime risk. Its sophisticated technology brings together disparate compliance tasks into one streamlined system, empowering our teams to achieve greater accuracy and respond rapidly to AML threats." The partnership underscores I&M Group's strategic commitment to building a next-generation compliance infrastructure that supports both regulatory resilience and scalable regional expansion. 'As East Africa's regulatory landscape rapidly evolves, with central banks emphasizing intelligence-led oversight and digital reporting, this collaboration with ThetaRay positions I&M at the forefront of proactive risk governance,' noted Zipporah Gitau, Group Chief Risk and Compliance Officer at I&M Group. 'By transforming how we detect, assess, and report financial crime, we are building a dynamic compliance foundation that not only meets today's regulatory demands but powers our growth across the region.' ThetaRay's platform will replace siloed legacy systems with a single, holistic compliance architecture. The rollout will cover key use cases including retail and corporate banking, trade finance, investment banking, capital markets, remittance, and e-wallet services. It incorporates ThetaRay's latest innovations, such as the Generative AI Risk Catalog, enabling compliance teams with a smarter, faster way to manage evolving regulatory and operational risk. Pre-configured and continuously updated, it enables institutions to deploy relevant, explainable and regulator-aligned risk typologies at scale. Peter Reynolds, CEO of ThetaRay, said: "This proactive move by I&M Group reflects a strong commitment to operational excellence and regulatory agility. By adopting ThetaRay's full-stack platform, I&M Group is setting a new benchmark in East Africa, proving that AI-first compliance can be both a shield against financial crime and a catalyst for growth. This is a model for how forward-thinking banks can stay resilient and build trust in the face of emerging risks." About ThetaRay ThetaRay harnesses the power of Cognitive AI for financial crime compliance, enabling financial institutions to precisely identify legitimate customers while flagging bad actors. The SaaS solutions overcome the limitations of traditional rule-based systems by shortening long implementation lifecycles, enabling efficient, risk-aware compliance operations. By transforming compliance from a regulatory obligation into a driver of growth, ThetaRay allows institutions to scale faster and expand confidently into new markets. By uncovering hidden criminal networks and delivering actionable insights, ThetaRay empowers organizations to combat evolving threats, maintain positive regulator relationships, and enhance customer experiences. Implemented at some of the world's leading financial institutions including Santander, Clear Bank, Mashreq Bank, Payoneer, Onafriq and Travelex, ThetaRay helps financial institutions thrive, fostering trust and confidence across the global financial ecosystem. I&M Group PLC I&M Group has a long-standing presence in the Kenyan market with presence in banking, insurance and real estate. The Group offers a full range of banking and financial services covering corporate, business and personal banking, wealth management, bancassurance and advisory services with presence spanning across five countries in Kenya, Uganda, Tanzania, Rwanda and in Mauritius through a joint venture with CIEL Group (Bank One). I&M Group PLC is regulated by the Central Bank of Kenya, Capital Markets Authority of Kenya and the Nairobi Securities Exchange.
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.'
