ThetaRay and IDB Bank announce a collaboration towards implementing ThetaRay’s state-of-the-art Transaction Monitoring solution.

IDB Bank Partners with ThetaRay, Strengthening its Financial Crime Compliance with Cognitive AI Solution

Media Contacts
Media (US): Karen Lichtenfeld, +1 (212) 551 8797 | klichtenfeld@idbny.com
Media Contact: pr@thetaray.com

ThetaRay, a global leader in Cognitive AI Financial Crime Compliance and IDB Bank, a New York-based private and commercial bank, have announced a strategic partnership. The collaboration underscores the Bank’s dedication to maintaining the highest standards of regulatory compliance and financial integrity, while providing an efficient and secure service to its clients.

“We are delighted to add IDB Bank in New York to the fast-growing list of global banks using our solution,” said Peter Reynolds, CEO of ThetaRay. “The US is a key market we are growing in and we see the clear need for financial institutions to continue focusing on their ability to detect financial crime. Our Cognitive AI solution, a first of its kind, distinguishes between the ‘good guys’ and the ‘bad guys’, the legitimate business and honest customers looking to make safe transactions, and the bad actors of this world. ThetaRay provides solutions that empowers our clients effectively serving both new and existing customers.”

“We are confident that our partnership with ThetaRay will strategically enhance our operational fortitude and core competencies to serve our clients in an increasingly nuanced financial services environment,” said Ziv Biron, IDB Bank President & CEO. “In leveraging ThetaRay’s next generation technology, we hope to introduce an innovative solution that will allow IDB to continue providing strong protections within the financial services industry, for our customers and operations against financial crime.

“I’m delighted to have our partners at IDB engage ThetaRay as they move forward in their continuous fight against financial crime,” said Erel Margalit, Chairman of ThetaRay and founder of JVP. “AI is becoming the way forward to cope with the sophistication of drug and human trafficking, terror financing, cross-border payments, and correspondent banking. AI also serves as the enabler for productive corridors of trade and finance, facilitating international financial transactions in a secure and efficient manner.

With leading international banks in Europe, South America, and Africa, ThetaRay is enabling international corridors of trade that empower legitimate actors to operate with confidence while intercepting bad actors. In the financial crime arena, where the complexity and sophistication of threats are continually evolving, AI is indispensable for addressing these challenges effectively.”

This partnership aligns with IDB Bank’s broader strategy to leverage technology in delivering superior services and fostering regulatory and customer confidence. By integrating ThetaRay’s Transaction Monitoring solution, IDB Bank hopes to continue to demonstrate its commitment to being a trusted partner in the global financial ecosystem and the fight against financial crimes.

About IDB Bank

IDB Bank is a New-York State-chartered commercial bank, a member of the FDIC, and a wholly owned subsidiary of Israel Discount Bank LTD., one of Israel's leading Banks. In addition to its Manhattan headquarters, IDB Bank operates full-service offices in California, Florida and the tristate area, including branch locations in Brooklyn, N.Y, Staten Island, N.Y and Short Hills, N.J. The Bank provides a complete range of private banking and commercial banking services to U.S and international clients. For 75 years, IDB Bank has built its business by fostering deep relationships with its clients, rapid decision-making, and the ability to develop custom-tailored solutions for both its domestic and international clientele.

About ThetaRay

ThetaRay harnesses the power of Cognitive AI for Financial Crime Compliance, enabling financial institutions to precisely identify legitimate customers while flagging bad actors. Our SaaS solutions overcome the limitations of traditional rule-based systems by shortening long implementation lifecycles, enabling efficient, risk-aware compliance operations. By uncovering hidden criminal networks and delivering actionable insights, we empower organizations to combat evolving threats, maintain positive regulator relationships, and enhance customer experiences.

ThetaRay, implemented at some of the world’s leading financial institutions such as Santander, Clear Bank, Mashreq Bank, Payoneer, Onafriq and Travelex, helps financial institutions thrive, fostering trust and confidence across the global financial ecosystem.

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