- Financial crime compliance innovator ThetaRay announced a strategic partnership with cross-border payments platform Spayce.
- The collaboration will combine ThetaRay’s Cognitive AI Transaction Monitoring solution with Spayce’s payments infrastructure to enhance the platform’s financial crime detection capabilities.
- ThetaRay made its Finovate debut at FinovateFall 2015 in New York.
Cognitive AI financial crime compliance company ThetaRay is working with cross-border payments platform Spayce to bring enhanced security and fraud fighting ability to payments. The strategic partnership will combine ThetaRay’s Cognitive AI Transaction Monitoring solution with Spayce’s global payments infrastructure to give the platform better financial crime detection capabilities.
“Financial crime is evolving rapidly, and the technology used to combat it must evolve even faster,” ThetaRay CEO Peter Reynolds said. “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.”
ThetaRay’s Cognitive AI technology analyzes transaction data to accurately identify suspicious activity and complex financial crimes. The company’s offering helps institutions better combat the growing sophistication of criminal networks who are able to thwart traditional rule-based anti-money laundering (AML) systems. Spayce will leverage ThetaRay’s AI-first solution to ensure regulatory compliance and scale securely.
“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 Co-Founder and Partner Debra LePage said.
Operating in more than 200 countries and territories, Spayce is a cross-border payment platform that enables secure and scalable global transactions. The company offers real-time payments via its Spayce Real-Time Payments solution, ACH via its Spayce ACH Payments solution, as well as Open Banking services. Use cases for Spayce’s solutions include vendor payouts, global payroll, ecommerce settlements, and real-time B2P and B2B payments via a combination of APIs, a hosted checkout solution, and a merchant portal.
Founded in 2013, ThetaRay made its Finovate debut at FinovateFall 2015 in New York. Today, the company offers transaction monitoring, dynamic customer risk assessment, and real-time transaction and customer screening to financial institutions around the world including Santander, Mashreq Bank, and Travelex. ThetaRay leverages Cognitive AI to help financial institutions distinguish legitimate customers from fraudsters, and its SaaS-based solutions provide companies with shorter implementation lifecycles as well as the ability to scale faster.
ThetaRay began 2025 with news that it had formed a strategic partnership with New York-based private and commercial bank, IDB Bank. The institution, a wholly owned subsidiary of Israel Discount Bank, deployed ThetaRay’s AI-powered transaction monitoring solution to “enhance (its) operational fortitude and core competencies” in the words of bank president and CEO Ziv Biron. “In leveraging ThetaRay’s next generation technology,” Biron added, “we hope to introduce an innovative solution that will allow IDB to continue providing strong protections within the financial services industry, for our customers and operations against financial crime.”
Photo by Jr Korpa on Unsplash
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