Blockchain payment network Zone uses ThetaRay to filter transactions

It is reported that the regulated tier 1 blockchain payment network Zone in Africa and the artificial intelligence transaction monitoring technology provider ThetaRay have announced that they will cooperate to implement ThetaRay’s cloud based SONAR solution to monitor and screen Zone transactions for illegal activities and violations of sanctions in Nigeria.

Blockchain payment network Zone uses ThetaRay to filter transactions

I. Introduction
A. Explanation of the partnership between Zone and ThetaRay
B. Brief about blockchain payment networks and ThetaRay’s SONAR solution
II. Zones network in Africa
A. Overview of Zones payment network
B. Explanation of the regulations for Zone
III. ThetaRay’s SONAR technology
A. Explanation of SONAR technology
B. Role of SONAR in detecting illegal activities
IV. How ThetaRay’s SONAR solution can help Zone in Africa
A. Identification of potential risks and illegal activities
B. Detection of transactions that violate sanctions
V. Benefits of using SONAR technology
A. Enhanced security and fraud detection
B. Improved compliance with regulations
VI. Challenges in implementing SONAR technology
A. Technical challenges of SONAR
B. Challenges of integrating SONAR solution with Zones Payment network
VII. Conclusion
VIII. FAQs
**It is reported that the regulated tier 1 blockchain payment network Zone in Africa and the artificial intelligence transaction monitoring technology provider ThetaRay have announced that they will cooperate to implement ThetaRay’s cloud-based SONAR solution to monitor and screen Zone transactions for illegal activities and violations of sanctions in Nigeria.**
In an effort to combat illegal activities and ensure compliance with regulations, the African payment network Zone and artificial intelligence transaction monitoring technology provider ThetaRay have announced a partnership to implement ThetaRay’s cloud-based SONAR solution. This article will discuss the potential benefits of this partnership and how ThetaRay’s technology can help Zone detect and prevent illegal activities and transactions that violate sanctions.
**Zones network in Africa**
Before delving into the partnership between Zone and ThetaRay, it is essential to understand the specifics of Zone’s payment network. Zone is a regulated tier 1 blockchain payment network focused on increasing access to financial services in Africa. Being a regulated payment network means that Zone adheres to a set of rules and regulations designed to prevent illegal activities like money laundering and terrorist financing.
**ThetaRay’s SONAR technology**
ThetaRay’s SONAR technology is a cloud-based solution designed to detect and prevent financial crime. This technology analyzes large datasets in real-time to identify patterns that indicate potential fraud or illegal activities. ThetaRay’s SONAR technology has proven to be effective in the detection of illegal activities and fraudulent transactions.
**How ThetaRay’s SONAR solution can help Zone in Africa**
ThetaRay’s cloud-based SONAR solution provides a wide range of benefits to Zone in Africa. By monitoring and screening Zone transactions, ThetaRay’s technology can help identify potential risks and illegal activities. Through the analysis of transaction patterns, the SONAR solution can detect transactions that violate sanctions or regulations, preventing Zone from being used for illegal activities.
**Benefits of using SONAR technology**
The implementation of ThetaRay’s SONAR solution brings a host of benefits to Zone. Enhanced security and fraud detection, improved compliance with regulations, and protection of Zone’s reputation are some of these benefits. With the implementation of safety measures like SONAR, Zone can build trust in the market, improve its reputation, and increase its customer base.
**Challenges in implementing SONAR technology**
While SONAR technology can provide a lot of benefits to Zone, challenges exist in its implementation. The first challenge lies in the technical complexity of SONAR. Integration with Zone’s existing payment network may prove to be quite complex. Secondly, aligning the architecture of Zone’s network with SONAR’s requirements may require significant investment in infrastructure.
**Conclusion**
In conclusion, the partnership between Zone and ThetaRay is a positive course of action towards improving financial safety in Africa. Through the implementation of ThetaRay’s SONAR solution, Zone can efficiently monitor and screen transactions for risks and illegal activities. The use of SONAR technology will not only enhance Zone’s reputation but also improve its compliance with regulations and reinforce customer trust.
**FAQs**
Q1. What is ThetaRay’s SONAR solution?
Ans. ThetaRay’s SONAR solution is an advanced cloud-based analytical tool used to detect and prevent financial crime.
Q2. What is Zone’s payment network?
Ans. It is a regulated tier 1 blockchain payment network focused on increasing access to financial services in Africa.
Q3. What are the benefits of using SONAR technology?
Ans. The use of SONAR technology brings improved security, enhanced fraud detection, better compliance with regulations, and protection of a company’s reputation.
**Keywords**: Zone, ThetaRay, SONAR solution, blockchain payment network, illegal activities, sanctions, financial crime, fraudulent transactions, compliance, fraud detection.