Israeli AI startup ThetaRay acquired Screena, a European screening company enhance their AI powered financial crime detection capabilities. By integrating Screena’s screening technology, ThetaRay aims to empower banks, fintechs, and regulators to identify and prevent financial crimes more effectively.
Screena specializes in screening individuals and entities against extensive lists of sanctioned parties, ensuring compliance with international regulations. With the acquisition, ThetaRay strengthens its product suite, offering a broader view of transactional and customer screening risks.
ThetaRay’s solutions are already deployed in over 40 countries, serving more than 100 financial institutions, including Santander, Payoneer, and Travelex. The recent collaboration with Santander UK to combat human trafficking through advanced data analytics underscores ThetaRay’s commitment to tackling complex financial crimes. The partnership was recognized with an award for Best Use of Data for Human Trafficking and Modern Slavery Detection at the Digital Transformation Awards.
To that end, the acquisition of Screena is part of ThetaRay’s broader strategy to provide an end-to-end financial crime detection platform. The acquisition also supports a seamless customer onboarding, efficient transaction flows, and regulatory compliance.
ThetaRay, founded in 2012 by Mark Gazit, Ronad Coifman and Amir Averbuch, previously raised a $57 million Series E funding round last year, led by Portage.
