Our Insights
One of our values is Shared Intelligence - a belief that we can accelerate progress by sharing data and knowledge.
Read on below for news, reports, and a multitude of insightful readings curated across AML, Compliance, RegTech, and Augmented Intelligence. If you are a thought leader in this space, don’t hesitate to contact us, as we love collaborating!
Generative AI Can Help Banks Retain Good Workers, Not Replace Them
One year since ChatGPT's debut: Discover how in the financial crime space, AI is empowering workers, not replacing them, bringing substantial economic advantages to banks and companies alike.
Upgrade and Embrace: A Smarter Alternative to Rip-and-Replace
In this blog, Lucinity discusses the complex challenges Financial Institutions face when upgrading their compliance systems, contrasting the traditional 'rip and replace' approach with the more gradual 'upgrade and embrace' strategy.
Navigating the Ethical Labyrinth of Generative AI in FinCrime Prevention
In this blog, Lucinity summarizes key insights from its recent panel discussion at Sibos 2023 in Toronto. It delves into the ethical considerations and strategies for the responsible implementation of generative AI.
Lucinity Included in the 2023 Gartner® Enhance Banking Offerings With GenAI: Strategic Approaches for IT Tech Providers report
Lucinity has been included in a Gartner report titled "Enhance Banking Offerings With GenAI: Strategic Approaches for IT Tech Providers"
Five Years of Lucinity
Today marks Lucinity's 5th anniversary. As I reflect on our journey, from our modest start in Reykjavik to making an impact worldwide, it's clear that passion, determination, and a spirit of innovation have been our constants.
From Solo to Copilot: The Role of Generative AI in Elevating FinCrime Prevention
In this blog, Lucinity summarizes key insights from its recent panel discussion at Sibos 2023 in Toronto. This blog explores the shift from solo analysts to a "copilot" approach, where human expertise is augmented by generative AI.
A Breakthrough Month: Lucinity’s Triple Crown of Accolades
What a month for Lucinity! Reconigzed as one of three Cool Vendors™ by Gartner®, winner at the Datos Impact Awards, and now part of Microsoft's Azure Marketplace. These milestones underscore our leadership in financial crime prevention, all powered by our AI copilot, Luci.
Lucinity Recognized by Gartner as a Cool Vendor in the 2023 Gartner® Cool Vendors™ in Applying Generative AI to Banking report
Lucinity announced today that it has been recognized by Gartner as one of three Cool Vendors in a recent report, “Cool Vendors in Applying Generative AI to Banking.
Lucinity Featured in MarketWatch Opinion Article
Lucinity has been featured in a MarketWatch opinion article by Barry McCarthy, which discusses the transformative role of Artificial Intelligence in fighting financial crime and reducing costs for banks.
Decoding the Maze of Financial Crime: A Conversation with Jyske Bank TV
We recently had the pleasure of speaking with Jyske Bank TV during Nordic Fintech Week about the emerging challenges and solutions in financial crime prevention.
SARs Reimagined: How Generative AI is Shaping Financial Intelligence
The blog highlights how generative AI and copilots are transforming Suspicious Activity Reporting, making it more consistent and efficient, and generating higher-quality reports.
Unlocking Next-Level Financial Crime Prevention: Lucinity Now Available on Azure Marketplace
We're thrilled to announce that Lucinity is now available on Microsoft Azure Marketplace. This is a game-changing step that amplifies our mission to make financial crime prevention smarter and faster through user-friendly AI.
Collaboration > Isolation: The Power of Sharing Data for FinCrime Prevention
In this blog, Lucinity discusses the vital role of data sharing in combating financial crime. It emphasizes how collaboration among institutions and governments can amplify crime detection and prevention efforts.
Lucinity Wins 2023 AML Impact Award for Best Financial Crime Investigation and Reporting Innovation by Datos Insights
Lucinity is honored to announce that it has received the 2023 AML Impact Award for Best Financial Crime Investigation and Reporting Innovation presented by Datos Insights.
Beyond ChatGPT: The Future of Generative AI in Financial Crime Prevention
Lucinity's Founder and CEO provides a response to Oliver Wyman's blog on chatGPT and the compliance function, highlighting the practical applications and limitations of Generative AI in FinCrime Prevention.
The Silent Warriors: Unraveling the World of Financial Intelligence Units (FIUs)
This blog explores financial intelligence units (FIUs), covering 4 models and highlighting the crucial role of advanced analytics and privacy-enhancing technologies in supporting FIUs.
Ethics in Generative AI: Luci's Story
Discover the journey of ethical AI in shaping Lucinity's AI copilot, Luci. Explore how core principles guided its creation for responsible and impactful financial crime prevention.
Lucinity featured in the Financial Times
Lucinity has been prominently featured in a Financial Times article discussing how AI is utilized in financial services, examining its benefits and risks.
Leadership Spotlight: Welcome Evan Peters, Hypergrowth Expert, as Fractional Chief Business Officer
Even Peters, former VP of Growth Strategy at Datadog and Chief Commercial Officer at Dandy joins Lucinity as a Fractional Chief Business Officer. Evan will be responsible for driving growth results at Lucinity.
Data Sharing to Prevent Financial Crime: Unlocking the Power of Collaboration
In this Payments Association Podcast, Lucinity and Starlex discuss the importance of data sharing, the challenges and solutions around data sharing, the importance of partnerships, and what we can do to facilitate better data sharing.
Lucinity Employs Microsoft Azure OpenAI to Revolutionize Anti-Money Laundering Measures
This case study showcases Lucinity's collaboration with Microsoft, using Open AI and Microsoft Azure for the secure development of the Luci copilot.
Leadership Spotlight: Insights from Airbnb's former Payments Chief Compliance Officer, John McCarthy
John McCarthy, former Payments Chief Compliance Officer at Airbnb, joins Lucinity's Growth Advisory Board, signifying a significant step in the company's growth journey.
Lucinity and Neterium Partner to Provide Real-Time Transaction and Counterparty Screening through Lucinity’s FinCrime Prevention Software
Lucinity and Neterium's partnership integrates real-time transaction and counterparty screening capabilities, enhancing compliance measures for financial institutions through Lucinity's generative AI copilot, Luci.
Luci: The Champion We Need in the Age of Data Overload
Luci's transformative potential empowers analysts to work more efficiently by providing context-specific information, reducing data analysis time, and boosting productivity for compliance professionals.
Lucinity featured in CNBC
Lucinity has been featured in an article by CNBC, highlighting the perspectives of banking and fintech executives on generative AI and the launch of the Luci copilot at Money 20/20 in Amsterdam.
The Journey of Luci: A Vision Five Years in the Making
Today, I'm excited to share a deeply personal milestone, one that's been five years in the making: the launch of Luci. It's not just an AI tool—it's a game-changer, moving financial crime prevention from a process that took hours to one that takes minutes.
Charting a New Course Against FinCrime: BIS Innovation Hub and Lucinity Successfully Conclude Project Aurora
The Bank of International Settlements (BIS) Innovation Hub Nordic Centre and Lucinity have partnered on an innovative initiative called Project Aurora. Project Aurora aims to tackle the global challenge of money laundering in cross-border transactions.
Regulated, Responsible, Restricted: Three Dimensions of Artificial Intelligence
Italy has banned ChatGPT, an OpenAI startup, due to concerns about violating EU data privacy regulations, sparking a debate on AI regulation. In this blog, we discuss three dimensions of AI: regulated, responsible, and restricted.
Generative AI as a Force-Multiplier in Compliance and Beyond
Lucinity explores Generative AI such as chatGPT offers exciting opportunities for Financial Institutions, particularly in the field of Financial Crime and compliance investigations.
Lucinity Featured in The Paypers
From stopping human trafficking to dealing with artificial intelligence, Lucinity highlights four areas where the financial crime system could use major improvements.
AI-Powered Financial Crimes: Are Bad Actors Already Ahead of the Game?
In this blog, we discuss whether AI is already being used by bad actors to commit financial crimes and perform fraud against financial institutions and their customers.
Lucinity Featured in the Payments Association
Lucinity writes an article for the Payments Association on the new Consumer Duty rules published by the UK's Financial Conduct Authority (FCA), and its impact on payments companies.
To Build vs. Buy: The Compliance Conundrum for Financial Institutions
Compliance decision-makers should always factor in budgets when implementing new compliance technology, but more importantly, they must consider the long-term impact and ROI of their choice to build vs. buy.
Lucinity featured in Risk.net
"AI and machine learning tend to be better than humans at convergent thinking. Humans, on the other hand, tend to excel in divergent thinking – the ability to come up with new solutions, underlined by a greater sense of nuance."
Detecting Anomalous Behavior in Complex Environments
Fast-paced geopolitical events, regulatory changes, and low-cost measures can grind compliance to a halt. A year in from the invasion in Ukraine, we look at how long-term compounded monitoring frameworks translate into equally complex controls, and how FI's can use technology to help.
Embracing Equity in Tech: A Dad's Perspective
Being the father of three amazing girls, equity is near and dear to my heart. My wife and I have always emphasized raising leaders, and we encourage our girls to try everything at least once before deciding it's not for them.
Introducing the Lucinity Growth Advisory Board: Accelerating Our Mission to Make Money Good
It is with great excitement that I unveil the creation of our Growth Advisory Board - a team of brilliant minds with the experience and expertise to take our AML compliance platform to the next level.
The Evolution of Diversity, Equity, Inclusion, and Belonging
Iceland is the first country in the world to put a law around equity – The Act on Equal Status and Equal Rights of Women and Men. The act is one of the main reasons Iceland is now leading the fight toward closing the gender pay gap.
Equity for the Minority: From the Perspective of a Female Foreigner in Tech
In my view, the global technology sector is still influenced by outdated social patterns that disproportionately affect minorities. We should all reflect on how our socialization and underlying beliefs impact our teamwork.
Human Trafficking: Taking a Stand for Women's Equity in Financial Crime
It isn't easy to wrap your head around Embracing Equity in the AML industry when human trafficking-related typologies mainly target women. A multi-faceted approach and collaborative effort must be made by all parties involved.
Embracing My Strengths as a Woman in a Male-Dominated Industry
By sharing my story of embracing my feminine strengths in a mostly masculine industry, I hope to encourage and inspire other women to do the same. It's crucial that we continue to break down barriers and empower all women to bring their unique perspectives and talents to the table.
Unlocking the Power of Equity: How it Shapes a Company's Culture
Why does equity matter in an organization like Lucinity? We believe that everyone deserves to be treated with dignity and respect, including providing them with the support they need to succeed.
4 Pillars of KYC
Like the transaction monitoring space, Know-Your-Customer (KYC) is a highly competitive and complex space where different types of customers need different types of solutions.
Icelandic neobank indó selects Lucinity for modern financial crime prevention
indó, an Icelandic mobile first advanced neo-bank, has selected Lucinity as its AML compliance software, including its Transaction Monitoring and Case Manager solutions.
Are We in This Together? Dutch Banks Introduce Fees to Fight Money Laundering
Dutch banks have recently introduced fees hitting commercial customers, foundations, and churches. These fees cover the extra compliance costs needed to fight financial crimes.
The measure has been assessed as "bizarre and ridiculous" by the customer segments affected.
Lucinity's Input into the FCA's Synthetic Data Feedback Statement
In February 2023, the Financial Conduct Authority (FCA) published a Synthetic Data Feedback Statement that Lucinity contributed to. Read further for a summary of Lucinity's perspective on the challenges and opportunities of using synthetic data, specifically within financial crime.
On Valentine’s Day, is it too much to ask that you love your AML system, too?
Let's break up with legacy AML systems!
Lucinity featured in Waters Technology
In a recent article, Theo Normanton from Waters Technology expands on the use of Privacy Enhancing Technology (PET) and Data Pooling in the fight against financial crime.
AML Reimagined: How Augmented Intelligence and Generative AI will Transform AML Teams
The AML industry is being transformed by the marriage of human intelligence and technology through augmented intelligence and generative AI. These technologies are making compliance teams faster and more efficient with a significant ROI.
Lucinity featured in IBS Intelligence 2023 Predictions
This month, IBS Intelligence published a 2023 lookahead, sharing the top predicted trends that this year has in store for us.
Transaction Monitoring: The Basics
Get informed about transaction monitoring and how it can benefit your business in the fight against financial crime.
Lucinity featured in Reuters Regulatory Intelligence
Lucinity's Founder and CEO, Gudmundur Kristjansson (GK), writes an article for Reuters Regulatory Intelligence about combatting financial crime in 2023 through AI and machine learning.
Are You Who You Say You Are? EBA Releases New Guidelines On Remote Onboarding
The European Banking Authority released its guidelines on remote customer onboarding. These apply to both credit and financial institutions. At the same time, they set the standards within the EU for developing sensible CDD processes.
7 Compliance & Financial Crime Trends for 2023
The increasing geopolitical tensions between the United States, Russia, and China will likely drive the Compliance agenda during 2023. Regulation is expected to become considerably tighter over the next few years, so we've outlined what we think will be the biggest trends in 2023.
Lucinity is a RegTech100 company
We are elated to announce that Lucinity is a RegTech100 company! Lucinity was selected as one of the top innovative RegTech companies, transforming the industry and helping financial institutions improve their compliance and risk management functions.
Where Are the Gaps in Your Compliance Plan?
In a recent ACAMS Today, different polls performed across several compliance practitioners showed a wide range of root causes for potential gaps in related compliance programs.
Compliance as a Partner: Fighting Financial Crime & Enabling Business Growth
Compliance is essential for a productive and integrated workplace. Charlotte Lowry, MLRO and Compliance Officer from PLEO, and our founder, GK, are huge proponents of how advantageous a culture of compliance is to a business.
Arion Bank and Lucinity Join Forces in the Fight Against Money Laundering
Arion joins a group of global banks and financial technology companies using Lucinity's anti-money laundering (AML) software solution.
How a Combined Approach Using AI and Human Intelligence Can Combat Money Laundering
Our Founder & CEO, Gudmundur Kristjansson (GK), was interviewed by Robin Amlôt for the IBS Intelligence podcast.
AML Compliance: What You Should Know
AML compliance includes processes, policies, and training. Financial Institutions (FI) have invested heavily in Compliance, but each year they've been careful to ensure that FIs covered other risk functions and reputational risks
Evolving AML Regulatory Environment: Bunq and The Dutch Central Bank
The recent case and court ruling favoring Dutch challenger bank, Bunq highlights how advanced Anti-Money Laundering (AML) tools and practices are gaining ground across the Financial Services industry.
Humans + AI = Supercharged AML
In a recent article by techhq.com, Lucinity's Expert in Financial Crime & Regulatory Transformation, Francisco Mainez, discussed the unique capabilities of Human AI.
Lucinity featured in TechRound
TechRound interviews Lucinity's Founder and Chief Executive Officer about his story of why and how he founded Lucinity.
Tackling Operations as Lucinity Grows Is A Welcome Challenge
I like the term operational excellence (OE). Its simplicity captures the mindset that teams should continue to strive for excellence in how they operate their products and services.
Lucinity featured on Nordic Fintech Magazine: Is Human AI our secret weapon to fight financial crime?
Our founder, GK, talks to Cris Crespo from Nordic Fintech Magazine about his inspiration for starting Lucinity and why it's so important to bring humans and AI together.
Lucinity featured in Euromoney: Financial crime compliance is ripe for innovation
The right technology makes AML processes more productive and efficient
Iceland PRIDE: in the Workplace
We had a lunch and learn hour about the history of PRIDE around the world and how to create a genuinely inclusive work environment
Sustaining Trust with Customer Success
Lucinity's Head of Customer Success, Cate Wright, discusses how Lucinity puts customer AML compliance needs first.
Lucinity featured on PYMNTS.com: FIs Need Collaboration AND Technology to Win AML War
FIs such as the European Banking Authority (EBA) have called for a better data-sharing framework to combat financial crimes
Lucinity featured in Raconteur: Driving efficiencies in payment technology
Cross-border trade in the post-pandemic world offers enterprise-level companies opportunities as well as challenges.
Lucinity raises $17 million in a Series B funding round
Lucinity is using the proceeds to accelerate growth and geographic coverage for its unique Human AI technology.
Lucinity featured in The Banker: adapting KYC and AML to the times
KYC and AML have enormous potential locked away behind a lack of productivity for those fighting financial crime.
Power to the people: deploying 'Human AI'
Letting AML analysts focus on the context and behavior behind the numbers, without burdening them with the need to also collect, process, and analyze data.
AI for AML: building Human AI
What is the benefit for human beings, and thus businesses, that AI technology creates, and how do we maximize it?
Lucinity partners with SEON to unlock synergies in AML compliance and fraud management
Lucinity has partnered with fraud management company SEON to include real-time fraud prevention capabilities in its AML compliance software.
Lucinity and Experian to tackle financial crime
New solution will create a more actionable, productive, and dynamic approach to KYB and financial compliance.
AI-powered, human-centered: explaining 'Human AI'
In this first post of a three-part blog series, we clear the air about AI, and explain Human AI: what it means, how it’s similar and why it’s different. And how it’ll help you fight financial crime better.
Pleo selects Lucinity to provide trusted AI-powered AML software as it continues to scale
Lucinity's highly scalable products combined with its integration-friendly application program interface (API) was the ideal solution to support Pleo’s rapid expansion.
Five things you need to know when selecting an AML solution
Enhanced Due Diligence covers not just onboarding your customers but also your supply chain.
Good Money starts with Good People
For us, social responsibility isn’t and cannot be a checkbox to tick with a mere page on our website.
Make Money Good in a galaxy far, far away
May the Fourth be with you all, always.
Riding the wave of AI innovation: Lucinity on VentureBeat
VentureBeat lists Lucinity among 10 notable companies making strides in AI innovation.
How do you keep your crypto business compliant without sacrificing speed and innovation?
Buying a regular AML compliance solution for your crypto business upsets the balance of power between your UVP and the expectations of the AML vendor.
Using Automation, Data, AI, and Machine Learning to Fight Financial Crime
Panel discussion about the role technology plays in anti-money laundering, and the challenges and concerns that come with adopting new tools such as AI.
Digitalization and optimization in AML @ the AML & FinCrime Tech Forum
To optimize AML and raise productivity to the levels required in today’s regulatory landscape, financial institutions need to correct the lens through which they view compliance.
Announcing the Lucinity SAR Manager
The Lucinity SAR Manager is a modern, intuitive, and enjoyable solution for compliance professionals to finally be able to file SARs efficiently.
Lucinity + Experian: partners in fighting FinCrime, to host webinar
An exclusive webinar to learn from some of the most renowned experts in the field of AML compliance.
Lucinity goes to Hollywood
Lucinity will represent the future of AML compliance at ACAMS 2022 in Hollywood, Florida on March 21-23rd, 2022.
Theresa Bercich: the new VP of Product @ Lucinity
She will be responsible for continuously innovating the Lucinity Platform and creating the Lucinity product strategy.
Women in AML: #BreakTheBias and Lead the Way!
There's no better time to start breaking down these barriers and paving a path for future female compliance professionals to advance in their careers.
The Future of AML @ the AML & FinCrime Tech Forum
A keynote on the future of AML through technology and what we at Lucinity do to Make Money Good.
#BreakTheBias with Theresa Bercich — VP of Product
We asked the women of Lucinity to share their thoughts and perspectives, for International Women’s Day 2022, on gender equality and inclusiveness.
#BreakTheBias with Sonja Jónsdóttir — Frontend Developer
We asked the women of Lucinity to share their thoughts and perspectives, for International Women’s Day 2022, on gender equality and inclusiveness.
#BreakTheBias with Kristín Björg Bergþórsdóttir — Data Scientist
We asked the women of Lucinity to share their thoughts and perspectives, for International Women’s Day 2022, on gender equality and inclusiveness.
#BreakTheBias with Ingibjörg Gunnarsdóttir — Program Manager
We asked the women of Lucinity to share their thoughts and perspectives, for International Women’s Day 2022, on gender equality and inclusiveness.
#BreakTheBias with Edda Björk Konráðsdóttir — Backend Developer
We asked the women of Lucinity to share their thoughts and perspectives, for International Women’s Day 2022, on gender equality and inclusiveness.
#BreakTheBias with Anna Berglind Jónsdóttir — Full-Stack Developer
We asked the women of Lucinity to share their thoughts and perspectives, for International Women’s Day 2022, on gender equality and inclusiveness.
The Women of Lucinity: a portrait series for IWD 2022
Make your voice heard on this International Women’s Day of 2022 and every day after. Let’s Break the Bias together!
Building a bright AML future at the AML & FinCrime Tech Forum
It was uplifting to see not only the hunger for better compliance tools but also the abundance of technology available.
Press Play for AML
Good-looking feature sheets may be impressive, but the proof is in the pudding, as they say.
