UK Fintech Gemba chooses ThetaRay for AML Program to enhance Global Expansion

Gemba Finance, a leading provider of banking and financial management solutions, has partnered with ThetaRay, a firm specializing in AI-powered global payments, to implement ThetaRay’s transaction monitoring technology in order to enhance Gemba’s growth and minimize regulatory exposure.

The CEO of Gemba Finance, Alexander Legoshin, emphasized the importance of reducing regulatory exposure while meeting global standards and expectations. He expressed that by leveraging ThetaRay’s technology, Gemba Finance can increase operational efficiency, improve customer satisfaction, and expand risk coverage, thereby fueling global growth.

Gemba Finance is known for its track record of providing business banking and financial management solutions, particularly targeting underserved communities. Their platform simplifies the process of creating an online bank, eliminating the need for coding, compliance issues, and infrastructure concerns.

ThetaRay’s AI-powered transaction monitoring and screening solution will enable Gemba Finance to scale its business while maintaining compliance through a more efficient compliance program. This will be achieved by significantly reducing false positives, increasing detection-worthy cases, and reducing investigation time.

The platform offered by ThetaRay is trusted by leading banks and fintech companies, including Santander, Travelex, Tango Pay, ZeePay, and MFS Africa. Leveraging unsupervised AI, ThetaRay’s risk-based approach to financial transaction monitoring has proven effective in various organizations.

Recently, ThetaRay secured a $57 million funding round led by Portage Ventures, JVP, and other investors. This investment aims to support further growth after the company experienced 10 times client growth and a five-fold increase in annual recurring revenue in less than two years.

Gemba Finance aims to streamline business banking and financial operations, offering swift and seamless financial solutions. Founded by entrepreneurs who experienced the challenges of traditional banking processes firsthand, Gemba Finance strives to democratize access to finance.

ThetaRay’s AI-powered transaction monitoring solution, SONAR, leverages artificial intelligence intuition to enable banks and fintech companies to expand their business opportunities and generate revenue through trusted global payments. The solution also enhances customer satisfaction, reduces compliance costs, and expands risk coverage.

Financial organizations with complex ecosystems benefit greatly from ThetaRay’s low false positive rates and high detection rates, allowing them to effectively monitor transactions and mitigate risks.

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