IDB Bank, a New York-based private and commercial bank, has linked with global RegTech firm ThetaRay.
ThetaRay, a global leader in the development of Cognitive AI solutions for Financial Crime Compliance, is renowned for its innovative technology that enhances the efficiency and security of financial transactions.
The core motivation behind this strategic partnership is IDB Bank’s commitment to maintaining the highest standards of regulatory compliance and financial integrity. By incorporating ThetaRay’s advanced Cognitive AI solution, the bank aims to bolster its defenses against the evolving complexities of financial crimes.
ThetaRay specializes in a unique Cognitive AI technology that effectively differentiates between legitimate clients and fraudulent actors. This capability allows them to provide robust security solutions that safeguard honest transactions while identifying and mitigating potential threats. IDB Bank, on the other hand, offers specialized banking services that prioritize customer safety and compliance with stringent regulatory standards.
The partnership is poised to significantly enhance IDB Bank’s operational strength and core competencies, allowing them to offer more secure and efficient services to their clients. This collaboration not only supports the bank’s ongoing efforts to protect against financial crime but also aligns with their broader strategy to leverage cutting-edge technology to improve service delivery and reinforce customer trust.
ThetaRay CEO, Peter Reynolds said, “We are delighted to add IDB Bank in New York to the fast-growing list of global banks using our solution. The US is a key market we are growing in and we see the clear need for financial institutions to continue focusing on their ability to detect financial crime.”
IDB Bank President & CEO, Ziv Biron said, “We are confident that our partnership with ThetaRay will strategically enhance our operational fortitude and core competencies to serve our clients in an increasingly nuanced financial services environment.”
Chairman of ThetaRay and founder of JVP, Erel Margalit said, “I’m delighted to have our partners at IDB engage ThetaRay as they move forward in their continuous fight against financial crime.”
Keep up with all the latest FinTech news here.
Copyright © 2025 FinTech Global
