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UK Fintech Gemba Chooses ThetaRay for its AML Program to Support Global Growth

UK Fintech Gemba Chooses ThetaRay for its AML Program to Support Global Growth

ThetaRay’s AI-powered AML transaction monitoring and customer screening solution will replace Gemba’s previous rules-based system to turbocharge growth while significantly reducing false positives, increasing detection-worthy cases and reducing investigation time

Gemba Finance, a leading provider of innovative banking and financial management solutions, and ThetaRay, the leader in next-generation AI-powered trusted global payments, announced the implementation of ThetaRay’s AI-powered transaction monitoring technology, SONAR, to power Gemba’s growth, while reducing regulatory exposure which frequently hampers growth at financial institutions.

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“With ThetaRay we’re increasing our operational efficiency, improving customer satisfaction and increasing risk coverage – and that is powering our growth globally.”

“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,” said Alexander Legoshin, CEO of Gemba Finance. “With ThetaRay we’re increasing our operational efficiency, improving customer satisfaction and increasing risk coverage – and that is powering our growth globally.”

Gemba Finance is a well-established and highly respected financial services company with a track record of providing business banking and financial management solutions to democratize access to finance, especially for underserved communities. Gemba’s platform enables companies or communities to create a new bank online in under one day without coding, compliance, and infrastructural headaches. Gemba’s all-in-one online banking and payment gateway solution is fast, reliable, and secure, and designed to help users launch their own neobank quickly and easily.

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ThetaRay’s AI-powered transaction monitoring and screening solution will enable Gemba to further scale its business while remaining compliant through a more efficient compliance program measured in significantly reduced false positives, increased detection-worthy cases, and reduced investigation time. ThetaRay’s platform, used by top banks and fintechs such as Santander, Travelex, Tango Pay, ZeePay and MFS Africa, uses unsupervised AI as the backbone of its risk-based approach to financial transaction monitoring.

“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,” said Peter Reynolds, CEO of ThetaRay. “Particularly here in the UK, a leading financial center 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.”

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