It will be led by Richard Biss, who comes to ThetaRay with more than twenty years of industry experience. Biss said:
“ThetaRay is poised to totally disrupt the financial services security industry; their proprietary solutions solve challenges that I’ve encountered throughout my entire career. I’m honoured to help expand the company’s presence and customer base in the UK financial services market.”
Biss previously served as director for a number of anomaly detection service providers. Prior to that, he spent 17 years at Sybase, where he was Director of UK Financial Services. When Sybase was acquired by SAP in 2010, Biss stayed on as Director of Financial Services, Databases, and Technology.
The UK office is the latest in a steady stream of company milestones for ThetaRay. In the past year, the company has doubled the size of its workforce, bringing on executives such as NICE Systems veteran James Heinzman and others from HP and PayPal. It has also completed installations with several leading US retail banks and large European banking institutions.
“As our track record shows, we are dedicated to protecting financial institutions against fraud, money laundering and other operational threats,” stated ThetaRay CEO Mark Gazit. “We are excited that Richard will be leading these efforts in one of the world’s key finance centers. His extensive experience with both financial services and anomaly detection technology makes him the ideal candidate to help ThetaRay expand its UK footprint.”
ThetaRay’s technology enables financial institutions to uncover the earliest signs of illicit behavior and threats, including multichannel fraud, money laundering, and ATM security breaches. The company’s patented mathematical algorithms can process tens of thousands of parameters simultaneously, helping to automatically identify unknown threats across multiple environments, systems and sources in real-time.