ThetaRay receives next-gen ATM security award

ThetaRay, a provider of big data analytics solutions, has won the 2018 ATM Industry Association Global Award for Next-Generation ATM Security. The company was recognized for a security solution that specifically addresses the risk of unknown future threats, and that will support next-gen ATM platform architecture, according to a press release.

The ThetaRay solution monitors physical and electronic activity at individual ATMs and across ATM networks, using big data analytics and advanced AI-powered machine-learning technology to detect illicit and suspicious activity.

The company's patented technology can process "any number" of data features using a series of advanced algorithms, the release said. Rather than simply looking for known threats, the solution provides insight into new threats that may arise with the evolution of the next-gen ATM platform, the release said.

"There are now 3.5 million connected ATMs worldwide, and criminals use sophisticated technologies to steal countless amounts of money from them each year," ThetaRay CEO Mark Gazit said in the release. "ThetaRay enables banks and ATM operators to secure customers, data, and cash against any threats, whether known or unknown. We are thrilled to be recognized by the prestigious ATMIA committee for our efforts."

The awards ceremony took place June 12 at the ATM Customer Experience & Security Summit in London.