Sylq selects ThetaRay AI to automate AML transaction monitoring and customer screening

By 30/05/2023August 8th, 2023No Comments

Sylq, the French e-payments leader, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced a new collaboration to implement high-performance AI transaction monitoring and automated customer screening to support company growth.

Sylq acquired ThetaRay’s newly released AI customer screening solution to boost its unique, fully digital onboarding process for KYB (Know Your Business) and KYC (Know Your Customer). ThetaRay’s API-driven and AI-based solution enables Sylq to introduce high automation to monitor transactions and screen merchants against sanctions lists, watchlists and third-party databases such as politically exposed persons (PEP) and adverse media.

Sylq is the first European all-in-one merchant payment platform, the result of the merger of French payment leader Synalcom with innovative payment fintech Qori. The company provides businesses with a unique integrated payments offering, from the terminal supply with 24/7 support services to payment processing services supporting card payments, open banking payments and crypto to fiat transactions on any payment terminal or Android and iOS device, while also enabling remote and online payments.

“We are on a mission to simplify business for French and European merchants by revolutionizing the payment offering. One of our core objectives is to achieve a highly scalable end-to-end process to screen customer identity as well as transactions,” said Daniel Maurice-Vallerey, CEO of Sylq. “ThetaRay’s sophisticated SaaS screening and transaction monitoring solution embeds a pre-built infrastructure that helps us optimize our workflow. The cloud-based architecture enables easy scalability as our business grows.”

“We are excited to announce our partnership with a leading European payment provider that is revolutionizing digital financial services, driving business growth, and fostering increased competition,” said Mark Gazit, CEO of ThetaRay. “With our  advanced  AI and machine learning technology, payment fintechs can instill trust in new financial partners by safeguarding their networks against money laundering and other financial crimes, while improving customer experience and ensuring compliance with regulatory requirements.”