List of ThetaRay SONAR Customers

Ray Theta

31 W 34Th St Fl 7,
New York, 10001-3031, NY,
United States

https://www.thetaray.com/

1 646-757-4956

Professional Services

$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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Customer	Industry	Empl.	Revenue	Country	Vendor	Application	Category	When	SI	Insight Source
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.
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.
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.
	Banking and Financial Services	600	$143M	United Kingdom	ThetaRay	ThetaRay SONAR	AML, Fraud and Compliance	2023	n/a
	Banking and Financial Services	150	$15M	South Africa	ThetaRay	ThetaRay SONAR	AML, Fraud and Compliance	2023	n/a
	Banking and Financial Services	30	$3M	Spain	ThetaRay	ThetaRay SONAR	AML, Fraud and Compliance	2023	n/a
	Banking and Financial Services	60	$6M	Malta	ThetaRay	ThetaRay SONAR	AML, Fraud and Compliance	2023	n/a
	Banking and Financial Services	40	$5M	United Kingdom	ThetaRay	ThetaRay SONAR	AML, Fraud and Compliance	2023	n/a
	Banking and Financial Services	20	$2M	South Africa	ThetaRay	ThetaRay SONAR	AML, Fraud and Compliance	2023	n/a
	Banking and Financial Services	5400	$2.9B	United Arab Emirates	ThetaRay	ThetaRay SONAR	AML, Fraud and Compliance	2022	n/a

Showing 1 to 10 of 31 entries

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