News

Advanced analytics platform helps FIs detect unknown cyber, operational threats

October 28, 2016

ThetaRay, a specialist in big data anomaly detection, has released Theta, described as a "newly advanced build" of the company's analytics platform.

Theta provides data analytics methodologies and forensics that can help protect financial organizations, cyber security divisions and critical infrastructure companies against unknown cyber and operational risks.

The platform also detects critical threats such as ATM hacking while assisting with quick payments, compliance and credit scoring, according to a press release,

Theta is data-agnostic, enabling it to analyze any data set without prior knowledge of business processes.

The platform becomes more accurate with each piece of data it receives, and delivers an extremely high detection rate along with low error and false positive rates, stated the release.

Theta features include:

• transformed data analytics — innovative methodologies delivered via graphic user interface enable users to set up and execute analyses across multiple use cases;
• big data processing — spark-based big data processing delivers immediate insights into masses of data;
• predictive analytics — six new detection algorithms, including genetic mutations predictive analytics and neural networks, provide future-proof detection;
• online detection — continuous analysis of incoming data delivers actionable alerts; and
• enterprise-grade deployment — an extensive operational envelope connects and integrates with customer systems and workflows.

Several large multinational banks are already deploying Theta for fraud detection and anti-money laundering purposes, the company said.