Ghana-based Zeepay has partnered Israel-based ThetaRay to implement the SONAR SaaS anti-money laundering solution for its remittance transactions. The SONAR system relies on an advanced form of AI called ‘artificial intelligence intuition’ to help make decisions with no bias or thresholds. The product offers fintechs and banks a risk-based approach to identify suspicious cases and create a full picture of customer identities including across complex, cross-border transaction paths. According to ThetaRay, this can allow for the discovery of both known and unknown money laundering threats, with a peerless 95% detection rate and a 99% reduction in false positives compared to rules-based solutions.
