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AirPak strengthens its AML program with ThetaRay’s SONAR, ensuring secure cross-border transactions through efficient AI-powered monitoring.

In order to ensure trust in international remittances, AirPak, a supplier of remittance services throughout Central America, has partnered with ThetaRay, an AI-powered transaction monitoring company, to fortify AirPak’s Anti-Money Laundering (AML) programme.

AML

AirPak will be able to swiftly implement AI in the fight against financial crime by utilising the ThetaRay AI-powered transaction monitoring system, SONAR. This will result in more effective compliance management, improved customer service, and more frictionless and reliable transactions.

Through dependable and trustworthy cross-border payments, ThetaRay’s SONAR transaction monitoring technology helps banks and fintechs to increase their revenue streams and business opportunities. In addition, the solution raises risk coverage, lowers compliance expenses, and improves customer satisfaction.

ThetaRay offers unparalleled low false positive and high detection rates, which is especially advantageous for financial businesses that depend on extremely complex and diversified ecosystems.

ThetaRay CEO Peter Reynolds made the following remarks regarding how their solution will assist AirPak: Our mission is to “enable trusted global payments while significantly improving efficiency for our banking and fintech customers.” We are honoured to be able to assist AirPak in achieving this goal.

In order to reinforce its dedication to stringent financial supervision and risk reduction, AirPak has opted to expand its partnership with ThetaRay by incorporating the Customer Due Diligence (CDD) module. With its sophisticated capabilities, the CDD module gives AirPak more insight into the different risks related to client onboarding and maintenance, guaranteeing regulatory compliance at every stage of the procedure.

The partnership’s significance was also elucidated by AirPak’s regional manager for legal and compliance, Andrea De La Fuente Levet: “AirPak’s decision to implement ThetaRay marks a significant milestone in its journey towards excellence.”

“This calculated action will completely transform AirPak’s operations, allowing it to develop faster, decrease false positives, improve detection, and speed inquiry processes.”

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