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Cybersecurity · head to head

Diligent vs ThetaRay

Diligent logo

Diligent

Cybersecurity

Board management and enterprise GRC platform assembled from Galvanize, Steele and Diligent Boards

From
On request
Rated
-
Full reviewWebsite
ThetaRay logo

ThetaRay

Cybersecurity

Unsupervised AI transaction monitoring for cross-border and correspondent banking

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Diligent the platform is an assembly of acquisitions, with the analytics engine from ACL, risk from Rsam, ethics and third-party diligence from Steele and the board portal from Diligent itself, so cross-module reporting and consistent user experience should be tested in a proof of concept rather than assumed.; ThetaRay unsupervised models are harder to justify to an examiner than explicit rules, and some regulators still expect documented threshold logic, which can force you to run both systems.
  • They diverge on capability: Diligent covers Diligent Boards, ThetaRay covers Unsupervised detection.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Diligent and ThetaRay actually diverge.

Attributes where Diligent and ThetaRay differ
AttributeDiligentThetaRay
PlatformsWeb, iOS, Android, WindowsWeb

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (Cybersecurity).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Diligent

  • Diligent Boards
  • Entity management
  • Audit and analytics
  • Risk management
  • Third-party risk
  • Ethics and compliance
  • ESG and sustainability
  • Market intelligence

Only in ThetaRay

  • Unsupervised detection
  • Cross-border focus
  • Sanctions screening
  • Alert triage
  • Customer risk scoring
  • Cloud native

What people use each for

The jobs each tool is most often brought in to do.

Diligent

  • A listed company that wants board papers, entity records and the audit committee reporting pack produced from one governance systemnot ThetaRay
  • An internal audit function moving from sampling to full-population transaction testing using the ACL heritage analytics enginenot ThetaRay
  • A regulated firm consolidating a whistleblower hotline, third-party due diligence and policy attestation after an enforcement findingnot ThetaRay
  • A group needing sustainability disclosure data collected with the same audit trail and controls as financial reportingnot ThetaRay

ThetaRay

  • A correspondent bank that cannot see the ultimate originator and needs behavioural signals rather than counterparty listsnot Diligent
  • A cross-border payments fintech whose rules engine produces more alerts than its compliance team can clearnot Diligent
  • A bank under a regulatory consent order needing demonstrable improvement in detection within a fixed periodnot Diligent
  • A payment institution entering a high-risk corridor where existing thresholds were calibrated on domestic trafficnot Diligent

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Diligent

  • The platform is an assembly of acquisitions, with the analytics engine from ACL, risk from Rsam, ethics and third-party diligence from Steele and the board portal from Diligent itself, so cross-module reporting and consistent user experience should be tested in a proof of concept rather than assumed.
  • Pricing is unpublished and consistently at the top of the market, and organisations that need only one capability, a board portal or an audit analytics tool, generally pay less and get more from a specialist.
  • Renewal leverage is weak once the board portal is embedded, because directors are the least willing user group to be migrated and that dependency is well understood by the vendor at renewal time.
  • The analytics engine expects real data skills, and audit teams without an analytics-capable member typically use a fraction of what they licensed while paying for all of it.
  • Module-by-module implementation means the promised single view of governance and risk usually arrives years after the first purchase, if the later modules are ever funded.

ThetaRay

  • Unsupervised models are harder to justify to an examiner than explicit rules, and some regulators still expect documented threshold logic, which can force you to run both systems.
  • The alert reduction claim depends heavily on your data, so a parallel run is essential and adds months and cost before you can decommission the incumbent.
  • Coverage is strongest in cross-border and correspondent flows; institutions whose risk is domestic retail fraud will find the fit weaker than a general-purpose monitoring platform.
  • It is a smaller vendor than the incumbents, so integration connectors into legacy core banking systems are often bespoke work rather than a supported adapter.
  • Model retraining and tuning are vendor-led, which means changing detection behaviour is a support conversation rather than something your own analysts can do that afternoon.

Pricing, plan by plan

Diligent

On request
  • Diligent One Platform$undefined/year
    • Quoted by module and user count
    • Board portal seats priced separately from GRC modules
    • Annual subscription, commonly multi-year

ThetaRay

On request
  • ThetaRay Sonar$undefined/year
    • Priced by monitored transaction volume and number of monitored entities
    • SaaS on Azure with regional data residency options
    • Parallel run and model tuning included in onboarding

Which should you pick?

Choose Diligent if

  • You need diligent boards.
  • You work on Web, iOS, Android, Windows.
  • You also want entity management.
Diligent review

Choose ThetaRay if

  • You need unsupervised detection.
  • You also want cross-border focus.
ThetaRay review

Questions people ask

Is Diligent or ThetaRay better?
Neither clearly leads. Diligent starts at On request and ThetaRay at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Diligent or ThetaRay?
Diligent starts at On request and ThetaRay at On request.
Does Diligent or ThetaRay run on more platforms?
Diligent runs on Web, iOS, Android, Windows. ThetaRay runs on Web.
What is Diligent best used for?
Diligent is most often used for a listed company that wants board papers, entity records and the audit committee reporting pack produced from one governance system, an internal audit function moving from sampling to full-population transaction testing using the acl heritage analytics engine, a regulated firm consolidating a whistleblower hotline, third-party due diligence and policy attestation after an enforcement finding, a group needing sustainability disclosure data collected with the same audit trail and controls as financial reporting. Of those, a listed company that wants board papers, entity records and the audit committee reporting pack produced from one governance system and an internal audit function moving from sampling to full-population transaction testing using the acl heritage analytics engine are not what ThetaRay is typically brought in for.
What can Diligent do that ThetaRay cannot?
Diligent covers Diligent Boards, Entity management, Audit and analytics, Risk management. ThetaRay covers Unsupervised detection, Cross-border focus, Sanctions screening, Alert triage.

Answered from the vendors’ own pages

Diligent: Is Diligent One the same product as Galvanize?

It contains it. Diligent bought Galvanize, the ACL and Rsam merger, for around one billion dollars in April 2021, and its audit analytics and risk modules are that heritage rebranded into Diligent One.

ThetaRay: Does it replace a rules engine entirely?

Rarely on day one. Most institutions run it alongside existing rules during a parallel period, and some keep specific regulator-mandated rules permanently.

Diligent: What does Diligent cost?

Not published. It is quoted by module and user, and board portal seats are priced differently from GRC seats. Expect an annual or multi-year enterprise agreement.

ThetaRay: Where is the data processed?

SaaS runs on Microsoft Azure with regional deployment options, which is the mechanism for meeting data residency conditions in regulated markets.

Diligent: Can you buy just the board portal?

Yes, Diligent Boards is sold on its own and is the most common entry point. The GRC modules are separate purchases.

ThetaRay: Is sanctions screening included?

Screening is available on the same platform but licensed as part of the commercial package rather than bundled by default. Confirm it is in your quote.

Diligent: Does it replace a SOC 2 automation tool?

No. Diligent is aimed at enterprise audit, risk and governance, not at automated evidence collection for security certifications.

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