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Santander AML Fintech Partnership

Santander AML Fintech Partnership

(8 June 2020 – Europe) Santander have signed agreements with financial technology company ThetaRay to manage the bank’s anti-money laundering (AML) operations for its correspondent banking operations.

The fintech company will use various risk indicators, SWIFT traffic and Know Your Customer (KYC) data to detect money laundering activity in correspondent banking. Aside for correspondent banking, Santander have made agreements with the fintech group that will help the bank identify money laundering and fraudulent activity across all banking units. 

“ThetaRay’s solution will further improve our ability to detect the earliest signs of money laundering and uncover unknown originating risks” stated Santander Global Transaction Banking Vice President, Carlos Gutierrez.

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