Themis Expands Its Financial Crime Technology to Saudi Arabia

Themis, a prominent provider of financial crime technology solutions, has recently disclosed the introduction of its financial crime risk management cloud service hosted in Saudi Arabia. This strategic initiative aims to address the changing financial and regulatory landscape of Saudi Arabia and reaffirm the company’s dedication to delivering advanced financial crime prevention solutions in the region.

The newly unveiled Themis service, situated in Jeddah, has been meticulously crafted to meet the distinctive demands of the region and ensure conformity with data sovereignty regulations. It assures that all customer data is stored and processed within the region, thereby satisfying the legal prerequisites. Equipped with state-of-the-art technology, robust security measures, and compliance features, the service is poised to become a cornerstone for organizations in need of top-tier financial crime prevention infrastructure.

Key features of the Themis service encompass advanced AI-based financial crime prevention technology, stringent security protocols, compliant infrastructure, and high-speed, low-latency connectivity. These features are intended to furnish clients with cutting-edge tools to safeguard their operations, maintain the integrity of their data, and adhere to industry regulations, while also facilitating seamless access to crucial data and applications with unparalleled efficiency.

Dickon Johnstone, the CEO of Themis, expressed his enthusiasm regarding the expansion of the company’s Financial Crime platform to Saudi Arabia, underscoring the commitment to providing the region with the most advanced tools and infrastructure to combat financial crime effectively in alignment with the Kingdom’s Vision 2030.

The inauguration of the data centre in Saudi Arabia represents a significant stride in Themis’s mission to equip businesses globally with innovative solutions to detect, prevent, and mitigate the global repercussions of financial crime. This move also aligns with Saudi Arabia’s endeavors to combat financial crime as a pivotal component of its Vision 2030, which seeks to diversify the economy, cultivate entrepreneurship, and bolster its financial sector. As the country undergoes digital transformation, it presents new opportunities for collaboration across the public and private sectors to combat financial crime effectively, with Themis well-positioned to provide the necessary tools to do so.

In conclusion, the expansion of Themis’s financial crime technology to Saudi Arabia signifies a noteworthy development in the company’s efforts to furnish cutting-edge solutions to combat financial crime and bolster the ongoing digital transformation in the country. This initiative also underscores the commitment to meeting the specific needs and regulatory requirements of the region, further enhancing Themis’s standing as a global leader in financial crime prevention technology.

Source: IBSi Daily News Analysis, January 29, 2024