NOW Money Selects ThetaRay AI Tech to Prevent Financial Crime
NOW Money, a Dubai-based mobile banking system that works with the Gulf Cooperation Council (GCC) as a payroll service, and ThetaRay, a provider of AI-powered transaction monitoring technology, announced a collaboration to implement ThetaRay’s cloud-based Anti-Money Laundering (AML) solution to monitor cross-border payments and support the prevention of financial crimes and money laundering on the fintech’s payments platform. The new partnership, according to the company, is essential as the number of overbroad money transfers continues to grow.
NOW Money selected ThetaRay’s solution to stay a step ahead of financial crime by uncovering both known and unknown money-laundering crimes, as well as preventing attempts to violate sanctions in real time.
“There is a huge opportunity in the Gulf to provide mobile banking services and financial education to millions of people who are unbanked or underserved,” said Noel Connolly, CEO of NOW Money. “ThetaRay’s AI technology using advanced machine learning will enable NOW Money to process unlimited volumes of transactions, expand business into high-risk areas, and gain the trust of financial partners and regulators worldwide.”
Visit www.nowmoney.me for more information.
UKG, a provider of HR, payroll, and workforce management solutions, announced that TravelBrands Inc., one of the largest travel companies in Canada, is achieving excellence in HR and workforce management and experiencing significant time and cost savings with UKG technology following its merger.
TravelBrands offers flights, hotels, cruises, and vacation packages and access to travel agents worldwide through its wholesale and retail divisions. In its first 12 months with UKG, according to the company, the travel company experienced a 10% reduction in turnover and a 25% decrease in the amount of time to resolve HR and payroll issues, as well as a 50% reduction in time spent generating weekly and monthly financial reports. The organization has also reported substantial efficiencies and cost savings of $150,000 in the first year since going live with UKG.
“In the past, many of our processes were manual,” said Diana Valler, Chief Human Resources Officer at TravelBrands. “A single error could lead to hours of extra work, resulting in additional burden and expense to the company. UKG has made us more efficient by automating and streamlining our HR, administrative, and payroll processes, resulting in lower overhead costs and a reduction in turnover.”
Visit www.ukg.com for more information.
Rippling Acquires Fuzzbuzz
Rippling, a global workforce management platform, announced it has acquired Fuzzbuzz, a security platform that protects various software from digital hacks or attacks. The Fuzzbuzz team of six engineers, according to the company, will bring years of experience building application security tooling that integrates into developer workflows to find bugs and vulnerabilities before they reach production. According to Brad Armstrong, SVP of Business and Corporate Development at Rippling, Fuzzbuzz’s acquisition will help accelerate important engineering efforts, from building new products to enhancing their infrastructure.
“We’re thrilled to announce the acquisition of Fuzzbuzz, which was co-founded by Forbes 30 Under 30 recipients Andrei Serban and Everest Munro-Zeisberger,” said Armstrong. “We’re beyond excited to see what we build together!”
Visit www.rippling.com for more information.