News

Fraud detection specialist ThetaRay opens London office

August 8, 2017

ThetaRay, an Israel-based provider of big data analytics solutions for financial institutions and manufacturers, has opened its first U.K. office in London.

Richard Biss, most recently director of financial services, databases and technology at SAP, will head up the London office, a company press release said.

ThetaRay technology helps financial institutions uncover early signs of illicit behavior and threats, including multichannel fraud, money laundering and ATM security breaches.

The company's mathematical algorithms can process tens of thousands of parameters simultaneously in real time to help identify unknown threats across multiple environments, systems and sources, according to the release.

The U.K. office is the latest in a steady stream of milestones for ThetaRay. Within the past year, the company has doubled the size of its workforce, and has completed installations with several leading U.S. retail banks and large European banking institutions, the release said.