Cross-border payments platform Spayce has partnered with ThetaRay to implement Cognitive AI transaction monitoring in its payment infrastructure.
The collaboration aims to address the complexity of financial threats and enhance payment security globally.
The integration of ThetaRay’s monitoring solution is designed to improve Spayce’s financial crime detection capabilities.
By analysing transaction data, the system can detect suspicious activities and expose intricate financial crime schemes.
Spayce, serving a wide range of clients in over 200 countries, is expected to benefit from this “AI-first” strategy by strengthening its compliance framework.
The partnership promises to provide Spayce with visibility into transaction flows, maintaining the integrity of transaction speed and customer experience.
ThetaRay CEO Peter Reynolds said: “Financial crime is evolving rapidly, and the technology used to combat it must evolve even faster. Our partnership with Spayce unites robust payment infrastructure with ThetaRay’s Cognitive AI to deliver proactive risk mitigation, greater transparency, and the trusted cross-border transactions needed to power global growth.”
Spayce partner and co-founder Debra LePage stated: “As Spayce expands its global payments capabilities, security and AML compliance remain at the core of our mission. Partnering with ThetaRay empowers us to stay ahead of increasingly sophisticated financial threats, while continuing to deliver seamless, trusted payment experiences for our customers worldwide.”
Spayce’s platform, which facilitates vendor payouts, global payroll, eCommerce settlements, and real-time B2P and B2B payments, operates through its existing APIs, hosted checkout solutions, and merchant portal.
“Payments firm Spayce deploys ThetaRay’s AI monitoring solution ” was originally created and published by Electronic Payments International, a GlobalData owned brand.
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