List of ThetaRay SONAR Customers
Ray Theta
31 W 34Th St Fl 7,
New York, 10001-3031, NY,
United States
New York, 10001-3031, NY,
United States
1 646-757-4956
Professional Services
10
$1M
Since 2010, our global team of researchers has been studying ThetaRay SONAR customers around the world, aggregating massive amounts of data points that form the basis of our forecast assumptions and perhaps the rise and fall of certain vendors and their products on a quarterly basis.
Each quarter our research team identifies companies that have purchased ThetaRay SONAR for AML, Fraud and Compliance from public (Press Releases, Customer References, Testimonials, Case Studies and Success Stories) and proprietary sources, including the customer size, industry, location, implementation status, partner involvement, LOB Key Stakeholders and related IT decision-makers contact details.
Companies using ThetaRay SONAR for AML, Fraud and Compliance include: Santander Bank, a Spain based Banking and Financial Services organisation with 211141 employees and revenues of $63.12 billion, OCBC Bank, a Singapore based Banking and Financial Services organisation with 33656 employees and revenues of $11.29 billion, AirPak, a Nicaragua based Banking and Financial Services organisation with 8000 employees and revenues of $3.60 billion, Mashreq, a United Arab Emirates based Banking and Financial Services organisation with 5400 employees and revenues of $2.92 billion, Yes Bank, a India based Banking and Financial Services organisation with 28000 employees and revenues of $1.76 billion and many others.
Contact us if you need a completed and verified list of companies using ThetaRay SONAR, including the breakdown by industry (21 Verticals), Geography (Region, Country, State, City), Company Size (Revenue, Employees, Asset) and related IT Decision Makers, Key Stakeholders, business and technology executives responsible for the software purchases.
The ThetaRay SONAR customer wins are being incorporated in our Enterprise Applications Buyer Insight and Technographics Customer Database which has over 100 data fields that detail company usage of software systems and their digital transformation initiatives. Apps Run The World wants to become your No. 1 technographic data source!
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| Logo | Customer | Industry | Empl. | Revenue | Country | Vendor | Application | Category | When | SI | Insight |
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AirPak | Banking and Financial Services | 8000 | $3.6B | Nicaragua | ThetaRay | ThetaRay SONAR | AML, Fraud and Compliance | 2023 | n/a |
In 2023 AirPak implemented ThetaRay SONAR to strengthen transaction monitoring within its AML, Fraud and Compliance program. The deployment targets the remittance operator's compliance footprint across Central America and its extended operations into Mexico where AirPak acts as a major Western Union agent, aligning enterprise transaction monitoring with regional remittance flows.
The implementation includes ThetaRay SONAR as the core AI-powered transaction monitoring and customer screening engine, and AirPak extended the deployment by adding the Customer Due Diligence CDD module to provide enhanced onboarding and maintenance risk visibility. The solution is positioned to quickly deploy AI-driven anomaly detection, reduce false positives, increase detection-worthy cases, and shorten investigation cycles as part of AirPak’s operational objectives.
Operational coverage explicitly spans Legal and Compliance, AML investigation teams, and customer onboarding functions, integrating transaction monitoring and customer screening workflows into existing compliance operations. The configuration emphasizes alert generation, case management handoffs, and CDD-enhanced risk profiling to improve investigator efficiency and onboarding risk assessment.
Governance and rollout focus on strengthening financial oversight and regulatory compliance, with AirPak extending its collaboration with ThetaRay to embed CDD capabilities alongside SONAR. The program is described as a strategic upgrade to institutionalize AI-driven monitoring across AirPak’s AML, Fraud and Compliance processes and to improve detection and investigative throughput without specifying third party integrations or implementation partners.
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Arca Payments Company Limited | Banking and Financial Services | 75 | $7M | Nigeria | ThetaRay | ThetaRay SONAR | AML, Fraud and Compliance | 2022 | n/a |
In 2022, Arca Payments Company Limited implemented ThetaRay SONAR as a SaaS anti-money laundering and sanctions list screening capability, recorded under the AML, Fraud and Compliance category. The deployment targeted transaction monitoring on ARCA's open AI based payments platform, making Arca Payments Company Limited the first Nigerian fintech to adopt ThetaRay SONAR for real time anomaly detection and sanctions screening across its payment flows.
ThetaRay SONAR was configured to run advanced machine learning detection and pattern recognition for transaction monitoring, sanctions list screening, and identity linkage across complex cross border transaction paths. The implementation emphasized threshold free anomaly detection and an AI driven risk scoring model to identify early indicators of sophisticated financial crime, with SONAR described as enabling rapid discovery of known and unknown money laundering threats.
Operational coverage focused on payments operations, compliance, fraud, risk and information security functions, and was positioned to support ARCA's instant payments and open banking ecosystem. Governance was framed around a risk based approach to suspicious activity detection and sanctions compliance, and ARCA stated SONAR would help create new lines of revenue, better serve customers, and remain compliant with regulatory requirements, while ThetaRay reported a 99 per cent reduction in false positives compared to rules based solutions.
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Cecabank | Banking and Financial Services | 463 | $71M | Spain | ThetaRay | ThetaRay SONAR | AML, Fraud and Compliance | 2022 | n/a |
In 2022, Cecabank implemented ThetaRay SONAR to support AML, Fraud and Compliance functions within its compliance and risk operations. ThetaRay lists Cecabank as a customer on its banking reference page, confirming the adoption of ThetaRay SONAR for bank surveillance and detection workstreams.
The deployment emphasized anomaly detection and transaction monitoring capabilities common to the AML, Fraud and Compliance category, including machine learning based analytics, behavioral profiling, alert scoring, and structured case management workflows. Configuration work focused on model tuning, risk scoring thresholds, and automated alert prioritization to align detection sensitivity with the bank's compliance criteria.
Operational scope covered Cecabank compliance, AML, fraud and risk teams, with data ingestion from payment and transaction streams and internal surveillance feeds feeding ThetaRay SONAR. Governance arrangements included model validation and periodic tuning cycles, defined escalation and case review processes, and alignment of alert handling with reporting and investigations workflows.
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ClearBank | Banking and Financial Services | 600 | $143M | United Kingdom | ThetaRay | ThetaRay SONAR | AML, Fraud and Compliance | 2023 | n/a |
In 2023, ClearBank deployed ThetaRay SONAR to strengthen its AML, Fraud and Compliance capabilities while pursuing a European banking license. The implementation is explicitly targeted at improving anti money laundering detection and operational efficiency across ClearBank’s transaction monitoring landscape.
ThetaRay SONAR was provisioned on Microsoft Azure cloud services, leveraging cloud scale for analytics and model processing. The deployment channels transaction telemetry into ThetaRay SONAR’s AI driven analytics engine to detect abnormal behavior and surface risk signals for analyst review, aligning infrastructure with cloud native processing and real time scoring patterns typical of the AML, Fraud and Compliance category.
Functional capabilities implemented emphasize AI driven anomaly detection, risk scoring, alert generation and prioritized case signals to support investigators. ClearBank’s use of ThetaRay SONAR focuses on reducing false positives and improving coverage of atypical behavior, enabling the bank to reconsider investigator workload and case prioritization while retaining human oversight for disposition decisions.
Operational scope covers core anti money laundering workflows across the bank, supporting compliance teams as ClearBank scales its services in Europe. The partnership with ThetaRay has played a pivotal role in enabling ClearBank’s growth while maintaining robust risk coverage and delivering measurable improvements in operational efficiency as stated by the customer.
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Clicksendnow | Banking and Financial Services | 150 | $15M | South Africa | ThetaRay | ThetaRay SONAR | AML, Fraud and Compliance | 2023 | n/a |
In 2023, Clicksendnow implemented ThetaRay SONAR to automate transaction monitoring and sanction screening, deploying a cloud-based SaaS instance to support its remittance network. The implementation addresses AML, Fraud and Compliance responsibilities for a payments provider that moves transfers to over 30 countries in Africa, and it was positioned to help Clicksendnow scale while meeting regulatory requirements.
ThetaRay SONAR was configured as a full-stack detection platform combining rules-based detection, AI/ML risk scoring and network visualization to surface anomalous activity and early indications of sophisticated money laundering. The ThetaRay SONAR deployment emphasizes automated sanction screening alongside transaction monitoring, and it ingests transaction patterns to build norms and present behavioral deviations for analyst review.
Operational coverage centers on Clicksendnow’s transaction flows and network-level screening across its cross-border remittance corridors, with principal business functions impacted including AML operations, sanctions compliance and risk management. The cloud-based SaaS architecture supports centralized alert generation and network analytics, and the system’s presentation of transaction database norms was integrated into analyst triage and case investigation workflows.
Governance and workflow changes focused on alert handling and analyst efficiency, aligning compliance processes to the platform’s AI-driven signal prioritization and network visualization. Outcomes reported with the ThetaRay SONAR implementation include a reduction in false positive alerts by up to 90 percent, a halving of analyst processing time, and faster detection of previously unknown case types, enabling more transparent and efficient AML investigations.
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Banking and Financial Services | 30 | $3M | Spain | ThetaRay | ThetaRay SONAR | AML, Fraud and Compliance | 2023 | n/a |
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Banking and Financial Services | 60 | $6M | Malta | ThetaRay | ThetaRay SONAR | AML, Fraud and Compliance | 2023 | n/a |
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Banking and Financial Services | 40 | $5M | United Kingdom | ThetaRay | ThetaRay SONAR | AML, Fraud and Compliance | 2023 | n/a |
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Banking and Financial Services | 20 | $2M | South Africa | ThetaRay | ThetaRay SONAR | AML, Fraud and Compliance | 2023 | n/a |
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Banking and Financial Services | 5400 | $2.9B | United Arab Emirates | ThetaRay | ThetaRay SONAR | AML, Fraud and Compliance | 2022 | n/a |
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Showing 1 to 10 of 31 entries
Buyer Intent: Companies Evaluating ThetaRay SONAR
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| Logo | Company | Industry | Employees | Revenue | Country | Evaluated | ||
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FAQ - APPS RUN THE WORLD ThetaRay SONAR Coverage
ThetaRay SONAR is a AML, Fraud and Compliance solution from ThetaRay.
Companies worldwide use ThetaRay SONAR, from small firms to large enterprises across 21+ industries.
Organizations such as Santander Bank, OCBC Bank, AirPak, Mashreq and Yes Bank are recorded users of
ThetaRay SONAR for AML, Fraud and Compliance.
Companies using ThetaRay SONAR are most concentrated in Banking and Financial Services, with adoption spanning over 21 industries.
Companies using ThetaRay SONAR are most concentrated in Spain, Singapore and Nicaragua, with adoption tracked across 195 countries worldwide. This global distribution highlights the popularity of ThetaRay SONAR across Americas, EMEA, and APAC.
Companies using ThetaRay SONAR range from small businesses with 0-100 employees - 45.16%, to mid-sized firms with 101-1,000 employees - 35.48%, large organizations with 1,001-10,000 employees - 9.68%, and global enterprises with 10,000+ employees - 9.68%.
Customers of ThetaRay SONAR include firms across all revenue levels — from $0-100M, to $101M-$1B, $1B-$10B, and $10B+ global corporations.
Contact APPS RUN THE WORLD to access the full verified ThetaRay SONAR customer database with detailed Firmographics such as industry, geography, revenue, and employee breakdowns as well as key decision makers in charge of AML, Fraud and Compliance.