MFS Africa Announces Its Partnership With ThetaRay
MFS Africa Announces Its Partnership With ThetaRay. MFS Africa has announced that it has partnered with ThetaRay AI Tech in order to protect MFS Africa’s growing network of services from financial crimes. “As MFS Africa continues to expand its business across Africa and focuses on enabling new use-cases, ThetaRay’s advanced platform assures the company an efficient and effective solution that can support our increasing payment volumes, while reducing exposure to risk from financial crimes,” said Patrick Gutmann, Managing Director of MFS Africa.
MFS Africa connects mobile money users and service providers, providing access to simple, secure, affordable, and compliant mobile financial solutions for all. The company believes in open access for all and are driven to making borders matter less by connecting Africans to each other, SMMEs, and the global digital economy. This creates change for people, the African continent and the world. Here, the only currency is access. MFS Africa is making barriers matter less with a global footprint and regional offices in Accra – Ghana, London – UK, Douala, Johannesburg – South Africa, Nairobi – Kenya, Kampala – Uganda, Port-Louis – Mauritius.
“MFS Africa is leading the fintech revolution in Africa by enabling digital payments that are accessible to connect all people to the financial world,” said Mark Gazit, CEO of ThetaRay. “ThetaRay is thrilled to partner with a forward-thinking company whose strategy is to provide new technology that helps open the financial ecosystem and promote financial and economic inclusion. ThetaRay’s advanced AI enables the trust needed by new financial players to be accepted into the system, helping grow business and revenues.”
ThetaRay is the provider of SONAR, the AI-powered AML transaction monitoring solution that allows payment fintech and banks to expand their business opportunities and grow revenues through trusted and reliable cross-border and domestic payments. The groundbreaking solution improves customer satisfaction, reduces compliance costs, and increases risk coverage. Using an advanced form of AI called “artificial intelligence intuition” and a family of proprietary, patented machine learning algorithms, SONAR analyzes data dynamically without relying on predefined scenarios or models, enabling effective detection and prevention of money laundering and other financial crimes.
