ThetaRay, Provider of Big Data and AI-enhanced Analytics Tools, Joins Microsoft's Partner Program to Offer AML Solution

ThetaRay, a provider of Big Data and artificial intelligence (AI)-enhanced analytics tools, has joined Microsoft's (NASDAQ:MSFT) partner program, One Commercial Partner, which provides various cloud-powered solutions. ThetaRay's anti-money laundering (AML) solution for correspondent banking can be accessed through Microsoft's Azure Marketplace. A large US bank has reportedly signed an agreement to use the solution. "We are proud to join the One Commercial Partner program and offer Microsoft Azure customers access to our industry-leading AML for Correspondent Banking solution." "Global banks are increasingly de-risking or abandoning their correspondent banking relationships due to a lack of transparency and fears of money laundering and regulatory fines. Our solution provides banks with the … ability to reverse the trend and grow their business by allowing full visibility into all links of the cross-border payment chain, from originator to beneficiary."