ThetaRay continues global expansion with Mexico office launch


New Location to Provide Dedicated Support for Latin American Banks Using ThetaRay’s IntuitiveAI to Detect Financial Cybercrime

ThetaRay, the leading provider of AI-based big data analytics, today announced the opening of its Latin America headquarters in Mexico City, Mexico.  The new location will provide local support for ThetaRay’s Latin American customers, assisting them in the detection of financial cybercrime schemes. It is ThetaRay’s fifth office worldwide, joining those in Israel, the United States, the UK, and Singapore.

“Our Mexico office grants us the opportunity to become a leading provider in the important Latin America region, and to better assist our customers in the fight against global financial cybercrime,” said Mark Gazit, CEO of ThetaRay. “ThetaRay is experiencing considerable growth and success in 2019, and we are enthusiastic about continuing our global expansion.”

The banking environment in Latin America is in dire need of ThetaRay’s solution to find “unknown unknown” financial crimes that cannot be detected by legacy systems. In Mexico alone, more than fifty top financial institutions are suffering today because they do not have a best-in-class solution to fight terrorist financing, professional money laundering, narco trafficking and other malicious acts.

The office will be overseen by LatAm Managing Director Felipe Mora Cervera, who has twelve years of experience providing technology and information services to Latin American financial institutions. He has also collaborated with multiple government agencies, providing expert insight on fighting crimes such as money laundering, fraud, corruption, slavery and human trafficking.

“Our team in Mexico has over 40 years of combined experience fighting financial cybercrime, and is well positioned to provide excellent local support to our growing Latin American customer base,” said Benjamin Wyrick, SVP sales for ThetaRay. “We are also eager to work and partner with additional financial institutions in the region.”

ThetaRay’s IntuitiveAI solutions replicate the powerful decision-making capabilities of human intuition to detect “unknown unknowns” that cannot be identified by rules-based legacy systems. They analyze large quantities of data and discover relationships between seemingly unrelated events. This enables banks to pinpoint activity indicative of money laundering, terrorist financing, human and narcotics trafficking, and other financial crimes.

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