Mexican fintech Tudi has partnered with ThetaRay to utilise its AI and cloud-based transaction monitoring solution, Sonar.

ThetaRay says Sonar can detect the earliest signs of sophisticated financial crimes including money laundering, narco-trafficking and terrorist financing while also allowing Tudi to remain compliant with new regulations.

“Mexican regulators are requiring non-bank payment providers to operate sophisticated anti-money laundering (AML) systems that can prevent money laundering,” says Andrés Adame Guajardo, vice president of product at Tudi.

“We were searching for a proven solution that would enable us to be compliant and stay one step ahead of developing AML scenarios in the country that challenge and risk our operations,” Guajardo adds.

ThetaRay’s Sonar solution makes use of proprietary AI that replaces human bias, allowing it to recognise anomalies and find unknowns outside of normal behaviour, including completely new typologies, the firm says.

Mark Gazit, CEO of ThetaRay, says its offering makes the entire process of transaction monitoring “efficient and effective, while improving customer satisfaction, reducing compliance costs, and increasing risk coverage with safe and secure payments”.

Tudi’s app allows Mexican consumers to make cashless payments, including paying bills and government fees and making money transfers. The firm caters to the underserved and unbanked in Mexico


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