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Leading AI Solution Provider Adds Capabilities to Tackle Cyber Financial Fraud

By CIOReview | Wednesday, July 24, 2019
Mark Gazit, CEO

Mark Gazit, CEO

New advances in AI technology will help financial organizations to protect themselves better if they choose to deploy such systems.

FREMONT, CA: ThetaRay, a leading provider of AI-based big data analytics, updates its advanced analytics platform IntuitiveAI. The latest version has a significant capability to help global banks detect and prevent cyber financial crime. The platform replicates the powerful decision-making capabilities of human intuition to discover unknown that cannot be identified by first-generation AI or legacy products. The new release also provides a method for anomaly clustering, which is a critical enabler to accurately detect more true positives while dramatically decreasing the number of false-positive alerts. Version 4.0 reconfirms ThetaRay’s commitment to offering next-generation financial crime prevention solutions that exceed the requirements of its customers and partners.  

Financial institutions appreciate a more proactive approach to cybersecurity as a single attack can incur substantial monetary losses. Fossil fraud detection methodologies can no more do their job efficiently as the threat landscape is becoming more sophisticated and takes place online. Besides, financial firms are also generating a mass amount of data but are unable to navigate through it and identifying and preventing threats. ThetaRay’s hyper-dimensional multi-domain big data analytics enable organizations to fuse and analyze vast amounts of heterogeneous data from diverse sources and records them in real-time. “This holistic, all-seeing technology provides automatic, unsupervised, real-time discovery of threats and risks that are not detected by existing rule-based solutions,” extols Mark Gazit, CEO of ThetaRay.

See Also: Top Financial Fraud Detection Technology Companies

ThetaRay’s AI solutions pinpoint future problems, discover new opportunities, and expose blind spots within complex data sets.  Its product portfolio also includes solutions for fraud detection and money laundering. ThetaRay’s solutions are designed to be industry-agnostic. “We currently focus on the financial and industrial sectors, but we can do much more. In the industrial world, we deal with the safety of machines. Furthermore, the company will provide solutions for sectors such as credit risk, insurance, and aviation. We are looking forward to expanding our relationships with leading enterprises by developing analytic solutions for multiple parts of their business,” adds Gazit.

Featured in CIOReview’s 100 Most Promising Big Data Solution Providers, ThetaRay is helping its clients at large financial organizations, and cybersecurity divisions become more resilient.