Israeli fintech firm ThetaRay has announced its acquisition of Screena, a company specializing in cutting-edge financial crime detection technology. This strategic move marks a significant step for ThetaRay in its mission to enhance its capabilities in combating financial crime through advanced artificial intelligence and analytics.
Screena, known for its innovative solutions in detecting fraudulent activities, will bring its expertise to ThetaRay’s portfolio, allowing the combined entity to offer a more robust and comprehensive suite of tools for financial institutions. The integration of Screena’s technology will strengthen ThetaRay’s ability to identify and prevent a wide range of financial crimes, including money laundering, fraud, and other illicit activities.
The acquisition is expected to drive growth and innovation within ThetaRay, positioning it as a leader in the financial crime detection market. By incorporating Screena’s advanced analytics and AI-driven solutions, ThetaRay aims to deliver enhanced accuracy and efficiency in detecting suspicious activities, ultimately providing greater protection for financial institutions and their clients.
ThetaRay’s CEO, Mark Gazit, expressed enthusiasm about the acquisition, stating, “Screena’s technology aligns perfectly with our vision for next-generation financial crime detection. This acquisition will not only expand our technological capabilities but also strengthen our commitment to safeguarding the financial industry from evolving threats.”
As the financial sector continues to face growing challenges in managing and mitigating financial crime, ThetaRay’s acquisition of Screena represents a strategic move to stay ahead of emerging threats and deliver cutting-edge solutions to its clients.