ThetaRay and Piie Collaborate in AI Technology for Insurance Payments
8.2.2023 16:00:00 EET | Business Wire | Press release
ThetaRay, a leading provider of AI-powered transaction monitoring technology, and Piie, Inc., an insurtech providing an intelligent payment engine, today announced a collaboration to implement an advanced AML solution for insurance claim payments.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230208005157/en/
Piie (Payments Intelligent Integration Engine) payments-as-a-service platform, including mobile application support. (Photo: Business Wire)
Through the agreement, Piie (Payments Intelligent Integration Engine) will integrate ThetaRay’s AI-driven SONAR transaction monitoring AML solution to monitor and detect anomalies pointing to suspected financial crime on its payments-as-a-service platform that includes mobile application support.
A scalable, secure payments platform headquartered in Charlotte, NC, Piie serves the insurance industry with an AI-driven real-time payments solution. Using ThetaRay’s transaction monitoring AML solution will further enhance and strengthen Piie’s current robust risk controls.
“Piie is revolutionizing how payments are processed within the insurance sector as the financial industry undergoes a digital transformation that is improving the customer journey for insurance companies,” said Mark Gazit, CEO of ThetaRay. “We are proud to partner with an insurtech that is focused on digital payments that enable companies to process insurance payments with lower costs and greater speed and accuracy.”
Ritesh Kirad, CEO of Piie, Inc. noted that "ThetaRay's advanced AML monitoring capabilities complement Piie's focus on a modern, secure payments architecture that reduces cost, improves efficiency, and delights policyholders."
ThetaRay’s award-winning SONAR solution is based on a proprietary form of AI, artificial intelligence intuition, that replaces human bias, giving the system the power to recognize anomalies and find unknowns outside of normal behavior, including completely new typologies. It enables fintechs and banks to implement a risk-based approach to effectively identify truly suspicious activity and create a full picture of customer identities, including across complex transaction paths. This allows the rapid discovery of both known and unknown money laundering threats, and up to 99 percent reduction in false positives compared to rules-based solutions.
About ThetaRay
ThetaRay's AI-powered SONAR transaction monitoring solution, based on "artificial intelligence intuition,” allows banks and fintechs to grow revenues through trusted global payments. The groundbreaking solution also improves customer satisfaction, reduces compliance costs, and increases risk coverage. Financial organizations that rely on highly heterogeneous and complex ecosystems benefit greatly from ThetaRay's unmatchable low false positive and high detection rates.
For more information, visit www.thetaray.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230208005157/en/
Contact information
Nina Gilbert, ThetaRay
nina.gilbert@thetaray.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Manna Air Delivery Raises $50Million Series B as It Announces Plans to Expand in the United States1.4.2026 19:00:00 EEST | Press release
Manna Air Delivery, a global leader in consumer drone delivery, has announced a $50 million funding round to scale its proven operations further in the United States and Europe. The round brings Manna’s total funding to $110million. Manna now operates one of the most active consumer drone delivery networks in the world, with more than 250,000 regulated commercial UAV flights completed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310714366/en/ Manna Air Delivery raises $50m Series B Investors in the round include ARK Invest, known for backing companies such as OpenAI, Anthropic, Tesla and SpaceX, the Ireland Strategic Investment Fund (ISIF) and Schooner Capital, alongside existing investors Coca-Cola HBC and Molten Ventures. As an unmanned aerial vehicle (UAV) delivery pioneer, Manna has operated in six locations across its native Ireland, as well as in Finland and Texas over the past seven years, delivering items inclu
Bureau Veritas Launches an Independent AI Assessment Offering for European Enterprises, Developed in Partnership with Amazon Web Services (AWS)1.4.2026 18:45:00 EEST | Press release
Bureau Veritas, a global leader in Testing, Inspection, and Certification services (TIC), announces the launch of an AI systems audit to help European enterprises assess and demonstrate their compliance with the European Union's "AI Act" regulatory requirements. This offering combines on-site audits, document analysis, and direct testing to deliver an independent maturity report. Since the EU's AI regulation came into force in 2024, companies have faced major implementation challenges. According to a recent report*, 68% of them struggle to interpret the provisions of the text, while 60% have yet to put in place the governance needed to comply. Non-compliance can cost them up to 7% of annual revenue. Bureau Veritas has developed this new audit offering to help companies identify their compliance gaps and remedy them. Bureau Veritas's new audit offering comprises a pre-audit, document review, on-site audit, and direct testing, resulting in an independent report on the client's AI maturit
Greenland Resources Signs Eight Year Off-take Agreement With SSAB to Supply High Quality Molybdenum1.4.2026 17:29:00 EEST | Press release
Greenland Resources Inc. (TSX:MOLY, FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to announce the Company has signed a binding off-take agreement with SSAB, a Nordic and US-based steel producer headquartered in Sweden. The company is a leading producer on the global market for advanced high-strength steels providing solutions to the defence, automotive, infrastructure and energy industries. A stock exchange press release from SSAB can be found on their website at www.ssab.com This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260401270749/en/ The off-take agreement provides an established price floor and price ceiling and will allow SSAB to secure high quality low carbon emission ferromolybdenum extracted in Greenland and refined in Belgium. SSAB will be able to ensure a stable and responsibly sourced long term secured primary molybdenum supply with high sustainability standards and low scope 1&2 emissions from a
VDYNE Receives FDA Approval to Initiate the TRIVITA 1 IDE Pivotal Trial of Transcatheter Tricuspid Valve Replacement System1.4.2026 16:30:00 EEST | Press release
VDYNE, Inc. (“VDYNE” or “the Company”), a privately held medical device company developing next generation transcatheter valve replacement technologies, today announced that the U.S. Food & Drug Administration (FDA) has approved an investigational device exemption (IDE) for the company’s pivotal clinical trial evaluating its Transcatheter Tricuspid Valve Replacement (TTVR) system. The IDE approval enables initiation of a U.S. pivotal study at leading clinical centers to evaluate the safety and effectiveness of the VDYNE system in patients with severe tricuspid regurgitation (TR). “This is a defining milestone for VDYNE and an important step toward bringing a much-needed therapy to patients with severe tricuspid regurgitation,” said Mike Buck, Chief Executive Officer. “Our focus now is on disciplined clinical execution and partnering with leading investigators to generate high-quality data that advances the field and improves patient care.” Significant unmet clinical needs exist in the
NetJets Introduces State-of-the-Art, Exclusive-Use Terminal in Augusta, Georgia1.4.2026 16:05:00 EEST | Press release
NetJets, the global leader in private aviation, is well underway on its development of a new exclusive-use terminal at Augusta Regional Airport (AGS). This state-of-the-art facility represents a significant investment in the region and reinforces NetJets’ commitment to delivering unparalleled experiences for its customers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260330125414/en/ NetJets to open a new, exclusive-use terminal at Augusta Regional Airport (AGS). Guests arriving this April for golf’s most iconic championship will witness the construction in progress, including the finished ramp and foundational walls of what will soon become a full-service terminal. The private ramp, offering 432,000 square feet of space for aircraft parking, will be completed in time for the 2026 golf tournament. “Augusta is a key destination for NetJets Owners,” said Patrick Gallagher, President, NetJets Aviation. “This new facility refl
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom