ThetaRay, the provider of AI-powered transaction monitoring and sanction screening solutions, is proud to announce a partnership with Knox Wire.
A key player focused on cross-border payments, Knox Wire plans “to implement ThetaRay’s anti-money laundering (AML) transaction monitoring and sanction screening across its bank-to-bank communication system.”
Knox Wire explains that it offers real-time gross settlement (RTGS) “for cross-border payments in over 190 countries and 150 currencies. It is designed to offer a swifter, more efficient, and transparent option compared to conventional cross-border payment methods.”
Knox Wire reportedly empowers financial service providers (FSPs) to “deliver near-instantaneous cross-border payments to clients worldwide.” Their technology streamlines cross-border payments, benefiting a wide range of financial entities, “including Knox Wire’s partners such as stockbrokers, bond originators, banking institutions, credit bureaus, insurers, and asset investment firms.”
ThetaRay’s solution will further “strengthen Knox Wire’s security and compliance measures, ensuring the integrity of cross-border payments while detecting illicit activities.”
Peter Reynold, CEO of ThetaRay, said:
“We are proud to collaborate with Knox Wire in their mission to revolutionize cross-border payments. Our AI-driven technology will help maintain the highest level of global financial trust while enabling swift and secure transactions for people and businesses across the globe.“
ThetaRay’s AI technology is uniquely “designed to detect both known and unknown threats, including money laundering, terrorist financing, and other financial crimes. It is also able to reduce false positives, which can save FSPs time and money.”
Stephen McCullah, CEO of Knox Wire, said:
“Our partnership with ThetaRay marks a significant step in revolutionizing cross-border payments, reinforcing Knox Wire’s security with advanced AI-driven AML monitoring. This ensures unwavering transaction integrity. We eagerly anticipate our joint efforts in shaping a more secure financial landscape.“
By partnering together, Knox Wire and ThetaRay promise “to blend innovation, security, and efficiency, ushering in a new era of cross-border payments.”
