ThetaRay holds an intuitiveAI platform that mimics human intuition’s decision-making capabilities to detect both existing and previously unknown malicious activity of bad actors.
In addition, ThetaRay’s advanced analytical solutions allow clients manage risk, detect money laundering schemes, uncover fraud, expose bad loans, uncover operational issues and reveal valuable new growth opportunities.
ABN AMRO intends to use ThetaRay’s solutions for its activities as gatekeeper to the financial system as it aims to fight against money laundering, human trafficking and terrorist financing.
ABN AMRO Digital Impact Fund director Hugo Bongers said: “Our investment in ThetaRay strengthens the current operational relationship between the bank and ThetaRay. The market for these solutions driven by artificial intelligence is a major growth market across the world and is strategically relevant to all types of financial services.
“In addition, ABN AMRO stands to benefit from access to the Israeli ecosystem of cybersecurity and financial crime detection firms, as well as the leading venture capital investors operating in this business, such as JVP (Jerusalem Venture Partners) and OurCrowd.”
Established in 2015, ABN AMRO Digital Impact fund is a £44.5m fund intended to invest in European companies that have already launched a product and are currently in the growth phase.
The Digital Impact Fund that has stakes in various firms including Tink, BehavioSec, solarisBank, Ockto, Crosslend and Tealium, and has previously invested in Cloud Lending Solutions.
ThetaRay CEO Mark Gazit said: “We’re very proud that ABN AMRO, a customer that benefits from ThetaRay’s intuitive artificial intelligence technology to combat financial cybercrime and operational failures, has now also become an investor.
“ABN AMRO is a visionary company that recognizes the value of a technology that can apply our IntuitiveAI-based solutions to drive better outcomes and capture future growth opportunities. We see ABN AMRO Digital Impact Fund as a true partner for creating a safer world.”
