Israeli Money-Laundering Watchdog Buys Financial Screening Firm 

Israeli company ThetaRay, whose AI platform detects financial crimes, has announced the acquisition of European firm Screena. 

The Luxembourg-headquartered company’s cloud-based, AI-driven screening technology is used by financial institutions to screen people and bodies against lists of sanctioned entities in order to ensure compliance with international regulations. 

ThetaRay says the acquisition demonstrates its ongoing investment in proprietary technology as part of its mission to enable banks, financial institutions and regulators to detect financial crime with state-of-the-art AI solutions. 

“The acquisition of Screena is a significant milestone for ThetaRay as we continue our mission to power the global fight against financial crime by enhancing our offerings with the most advanced AI capabilities,” said ThetaRay CEO Peter Reynolds. 

“We are delighted to have closed our first acquisition, bringing key capabilities and further establishing our already rapidly growing presence in Europe,” he said. 

“Integrating with ThetaRay has been a game-changer for us at Screena, revealing the true potential of combining Transaction Monitoring, Screening, and Customer Risk Assessment,” Screena CEO Cédric Iggiotti. 

“Our partnership with ThetaRay not only meets stringent regulatory demands but also significantly enhances our crime detection capabilities, as evidenced by our recent successes with major financial institutions. Looking ahead, we are excited to push the boundaries of what’s possible in building a more trustworthy financial ecosystem.”