ABN AMRO invests in Israeli data analytics firm Thetaray
The bank is an existing user of Thetaray’s IntuitiveAI platform, which mimics human intuition in its decision-making processes to detect malicious activity and combat financial crime.
Hugo Bongers, director of ABN AMRO Digital Impact Fund, says the undisclosed investment will strengthen the operational relationship between the bank and Thetaray.
He adds: “The market for these solutions driven by artificial intelligence is a major growth market across the world and is strategically relevant to all types of financial services. In addition, ABN AMRO stands to benefit from access to the Israeli ecosystem of cybersecurity and financial crime detection firms, as well as the leading venture capital investors operating in this business, such as JVP (Jerusalem Venture Partners) and OurCrowd.”
Thetaray’s CEO, Mark Gazit, states that ABN AMRO Digital Impact Fund will become a “true partner” in the company’s bid to create a safer world.