The Novatti Group chooses ThetaRay artificial intelligence technology to control its international payments

An Australian fintech deploys its SaaS AML solution to optimize its possibilities ofinternational expansion and its customer service

MELBOURNE, Australia & NEW YORK & TEL AVIV, Israel, September 15, 2022–(BUSINESS WIRE)–ThetaRay, a leader in AI-powered transaction monitoring technology, today announces that Novatti Group (ASX:NOV), a leading fintech enabling businesses to pay and paid, has chosen SONAR, ThetaRay’s SaaS solution for AML transaction monitoring, to protect its growing global payment services against money laundering and other financial crimes.

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Based in Australia, the Novatti Group offers companies and individuals to make payments nationally and internationally. Novatti is currently present in 59 countries and offers products ranging from cross-border transfers to overseas bill payments, not to mention digital wallets and vouchers.

Novatti is ThetaRay’s first SaaS customer in the Asia-Pacific region.

SONAR, ThetaRay’s advanced solution for AI-assisted transaction monitoring based on “artificial intelligence intuition”, will monitor hundreds of thousands of transactions per year for Novatti. This solution, capable of detecting the first signs of complex money laundering activity, will allow Novatti to check that the transactions processed are not related to illegal activity, without affecting the quality of the service. By offering a reliable and secure service, Novatti will strengthen its possibilities for international growth.

“As we grow our relationships and add new payment services, it is critical to have an AML transaction monitoring solution that is effective and capable of meeting the increased transaction volumes of our growing business,” said Evangelia Pefkou, Group GM of Risk, Legal and Compliance at Novatti Group. “By choosing ThetaRay’s SONAR solution, we opted for a true AI-based solution that effectively fights financial crime – including unknown and hidden money laundering – by delivering high detection rates and low numbers. false positives, so we can proactively and efficiently submit high-quality reports to regulators.”

“We welcome the opportunity to help the Novatti Group deliver fast, secure payments and build trust across its global network,” said Mark Gazit, CEO of ThetaRay. “SONAR detects the latest and most sophisticated criminal schemes, enabling Novatti to establish new relationships to simultaneously grow its global business, increase revenue and improve customer service.”

Cross-border transactions are often composed of a complex sequence involving several financial institutions operating in different currencies and in several countries. It is therefore difficult for fintechs and banks to guarantee full transparency on the final beneficiaries. By ensuring total visibility into the complex circuits of cross-border transactions, SONAR makes it possible to protect users against any exploitation for the purposes of money laundering, terrorist financing, human trafficking and drug trafficking, while offering partners the possibility of multiplying their transfer volumes.

“Our partnership with Novatti will help grow their business while protecting the services from money laundering and other financial crimes,” said Dan Wollis, vice president of strategic accounts, ThetaRay. “The synergy between the two companies is excellent as it encourages innovation within the global payments network. We look forward to collaborating and building a strong relationship.”

SONAR is the industry’s most advanced financial crime prevention solution for cross-border payments. It quickly detects known and unknown money laundering threats, with an unparalleled 95% detection rate and up to 99% reduction in false positives compared to rules-based solutions.

For more information on the Novatti Group, visit

About ThetaRay:

SONAR transaction monitoring solution offered by ThetaRay, powered by AI and based on “artificial intelligence intuition”, enables banks and fintechs to expand their business opportunities and increase their revenues thanks to reliable cross-border payments. The revolutionary solution also improves customer satisfaction, reduces compliance costs, and increases risk coverage. ThetaRay’s technology is the only Software as a Service (SaaS) offering that analyzes SWIFT traffic, risk indicators and customer/payer/payee data to detect anomalies indicating certain money laundering activity at through complex cross-border transaction channels on a single unified platform. Financial organizations that rely on highly heterogeneous and complex ecosystems benefit greatly from ThetaRay’s low false positive results and unparalleled high detection rates.

For more information, please visit

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Nina Gilbert
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