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ThetaRay Strengthens the AirPak AML Programme With AI, Combatting Financial Crime

AirPak, a remittance service provider across Central America, has joined forces with ThetaRay, the AI-powered transaction monitoring firm, to strengthen AirPak’s Anti-Money Laundering (AML) program, a crucial step towards ensuring trust in global remittances.

By leveraging the ThetaRay AI-powered transaction monitoring solution, SONAR, AirPak will be able to quickly deploy AI in the fight against financial crime leading to more efficient compliance management, better customer service, and more seamless and trusted transactions.

ThetaRay’s SONAR transaction monitoring solution enables banks and fintechs to expand their business opportunities and grow revenues through trusted and reliable cross-border payments. The solution also improves customer satisfaction, reduces compliance costs, and increases risk coverage.

Financial organisations that rely on highly heterogeneous and complex ecosystems benefit greatly from ThetaRay’s unmatchable low false positive and high detection rates.

Peter Reynolds, CEO of ThetaRay
Peter Reynolds, CEO of ThetaRay

Peter Reynolds, CEO of ThetaRay, commented on how its solution will support AirPak: “Enabling Trusted Global Payments while significantly improving efficiency for our banking and fintech customers is key to our vision, and we’re proud to make this possible for AirPak.”

To bolster its commitment to robust financial oversight and risk mitigation, AirPak has chosen to extend its collaboration with ThetaRay by also implementing the Customer Due Diligence (CDD) module. The CDD module offers advanced features, providing AirPak with enhanced visibility into the various risks associated with customer onboarding and maintenance, ensuring regulatory compliance at every step of the process.

Andrea De La Fuente Levet, legal and compliance regional manager at AirPak, also explained the significance of the partnership: “AirPak’s decision to implement ThetaRay marks a significant milestone in its journey toward excellence.

“This strategic move is set to revolutionise the way AirPak operates, enabling it to expedite growth, reduce false positives, enhance detection capabilities, and expedite investigation procedures.”


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