ThetaRay Signs with ING Netherlands to Detect SME Lending Fraud

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Big-data analytics company ThetaRay inked an agreement today with ING Netherlands that combines its Advanced Analytics solution for fraud detection with ING’s existing risk engine.

The partnership will empower ING to uncover new SME lending fraud by detecting anomalies through its transactional and organizational data. Beate Zwijnenberg, director of fraud and cybersecurity for ING Netherlands, says that ThetaRay impressed the company by “rapidly identifying a number of transactional anomalies.” She describes the company’s precision in detecting fraudulent activity as “truly innovative.”

ThetaRay’s algorithms help financial services organizations protect against cybersecurity threats, enhance operational efficiency, and detect risk. At FinovateFall 2015, Theta Ray’s fraud and credit risk algorithms were demoed. Udi Solomon, VP of product, began the demo saying, “We are able to take any type of structured or semi-structured data source to automatically and in just a few seconds… to detect the first signs of anomalous activity.” He continued by showing how the algorithms help banks leverage their big data.

thetaraydemoUdi Solomon (VP, Product) demoes ThetaRay at FinovateFall 2015.

ThetaRay, headquartered in Israel and the United States, has raised a total of $25 million from investors including Alibaba and General Electric. Mark Gazit is CEO. Last fall, the company was named Most Innovative Industrial Internet Technology at GE’s Minds + Machines 2015.

Brunon Bartkiewicz Named New CEO at ING Bank Slaski


After spending two years as ING Bank’s Chief Innovation Officer—as well as time as ING Direct’s General Manager—Brunon Bartkiewicz (circle picture) will once again be CEO of ING Bank Śląski.

Brunon_Bartkiewicz_headshotThe change comes amid a flurry of activity for the Polish division of the innovative Dutch bank. Current ING Bank Śląski CEO Małgorzata Kołakowska will be taking on new responsibilities as global head of network for wholesale banking.

And new CIO Julía Vilar not only will be taking over as chief innovation officer, but also will head ING Bank Śląski’s retail banking segment. The new position was created in order to “strengthen the overall steering and coordination of retail banking” at the firm, as well as to “give greater executional certainty to new retail innovation projects.”

The transitions are expected to take place in May.


Pictured (left to right): Bartosz Dobrowolski (Customer Success Director, uselab) and Adam Walendziewski (Deputy Director, Direct Distribution Channels, ING Bank) demonstrating ING Business at FinovateEurope 2016 in London.

ING Bank Śląski began the year winning a pair of awards from International Finance Magazine, earning recognition as the “Most Innovative Bank” and “Best Customer Service Bank.” And last December, the bank was named “Best Bank in Poland” by The Banker, the “global financial intelligence unit” at the Financial Times. Earlier this month, ING Bank Śląski announced plans for a 4.3 zlotys-per-share dividend, up from 4 zlotys last year.

With 7% of the total assets of the Polish banking sector, ING Bank Śląski is one of the largest banks in Poland. ING Bank Śląski was founded in 1989 and, as of September 2015, served four million clients and employed more than 8,000. The company demoed its ING Business solution in cooperation with uselab at FinovateEurope 2016.

Finovate Alumni News


  • “Brunon Bartkiewicz Named New CEO at ING Bank Slaski”


Around the web

  • Xignite announces its XigniteGlobalCurrencies API is now available in the Oracle Cloud Marketplace. Join Xignite at FinDEVr 2016 in New York, March 29 and 30.
  • CardFlight integrates with Stripe to encourage developers to build EMV payment functionality within their mobile apps.
  • Jack Henry partners with The Clearing House to help spread “real-time payment ubiquity” among FIs.
  • Fenergo to provide Client Lifecycle Management solutions to Nikko Securities America.
  • WePay wins gold at 2016 Stevie Awards for sales and customer service.
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  • Insuritas replaces GoogleCompare by launching new technology that provides one-stop shopping for financial products.
  • launches the Network to promote faster, lower-cost payments for businesses.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateEurope Sneak Peek: ING Bank & Uselab



FEULogowithDateA look at the companies demoing live to 1,500 fintech professionals. Register today.


ING Bank Śląski, co-presenting with Uselab, has created the first holistic corporate banking ecosystem, ING Business, providing our business customers with a truly omnichannel experience.


  • Mobile-first design, works on all devices
  • Pre-defined customer dashboards
  • The utmost standards in user experience

Why it’s great
ING Business ensures uninterrupted, seamless support for the company’s business processes while transforming customer-experience standards from individual e-banking to the B2B world.


Adam Walendziewski, Deputy Director of Direct Distribution Channels at ING Bank Śląski
More than a decade of experience in product development and project management; visionary internet and mobile solutions for corporate clients. Passionate about adapting new trends in technology to daily business.

INGpresenter2Bartosz Dobrowolski, Customer Success Director at Uselab
More than 10 years’ experience in vision development and innovative product design. Loves people and strives to work closely to ensure products provide real business value.

Finovate Alumni News


  • Larky Launches at Three New Credit Unions.
  • London’s Revolut Unveils Version 2.0 of its Personal Money Cloud

Around the web

  • Fifth Third Bancorp to deploy AML solutions from NICE Systems’ Actimize.
  • interviews Kashoo Communications lead Dave Clarke on cloud accounting.
  • Baxter Credit Union ($2.4 billion) chooses ORB platform from Alkami Technology.
  • Roundup of Australia fintech startups features Avoka. See Avoka at FinovateEurope 2016 in London.
  • Encap releases version 3.1 of its mobile authentication and security platform.
  • First Data’s Clover launches Clover Go mobile POS dongle.
  • Coinbase introduces price alert push notifications on iOS and Android.
  • In 2015, Kasasa sees 45% growth in clients, now counts 779 signed community FIs.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.