AirPak and ThetaRay join forces for advanced AML compliance


AirPak has recently announced a new partnership with ThetaRay, a front-runner in the world of AI-driven transaction monitoring systems.

This collaboration is geared towards amplifying AirPak’s Anti-Money Laundering (AML) programme, a pivotal measure in bolstering trustworthiness in worldwide remittances.

For over three decades, AirPak has been an exclusive representative for Western Union in its region. They have recently expanded their horizons to Mexico with non-exclusive representation, making them the Western Union Master Agent with a presence in numerous countries globally.

On the other hand, ThetaRay is well-recognised for its AI-infused transaction monitoring tool, SONAR. This technology equips businesses with rapid AI deployment capabilities in countering financial misconduct, leading to streamlined compliance management, improved customer interaction, and trust-enhanced transactions.

In a move to further their dedication to stringent financial supervision and risk aversion, AirPak has opted to extend its alliance with ThetaRay. This involves the integration of the Customer Due Diligence (CDD) module. The CDD module comes with a plethora of advanced features, granting AirPak an in-depth insight into the potential risks linked with the customer acquisition and maintenance stages. This ensures unyielding regulatory adherence at every juncture.

The strategic integration of ThetaRay into AirPak’s operations is seen as a significant turning point in its quest for superiority. This innovative shift is expected to drastically transform how AirPak functions, allowing for rapid growth, minimisation of false positives, enhanced detection prowess, and swifter investigation processes.

AirPak’s Legal and Compliance Regional Manager, Andrea De La Fuente Levet, said, “AirPak’s decision to implement ThetaRay marks a significant milestone in its journey toward excellence. This strategic move is set to revolutionize the way AirPak operates, enabling it to expedite growth, reduce false positives, enhance detection capabilities, and expedite investigation procedures.”

ThetaRay CEO Peter Reynolds said, “We are thrilled to extend our LATAM business and to be working with the team at AirPak. Enabling Trusted Global Payments while significantly improving efficiency for our banking and fintech customers is key to our vision, and we’re proud to make this possible for AirPak.”

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