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!
How Generative AI Copilots are Transforming FinCrime Compliance
Learn more about the benefits, challenges, and considerations for implementing AI copilots for financial compliance, as well as Lucinity's approach to leveraging generative AI for financial crime operations
Transforming Compliance Operations with Workflow Automation Software
Learn how to effectively plan and implement compliance workflow automation using the best workflow automation software.
Integrating AI Copilots into AML Frameworks: Overcoming Technical and Operational Challenges
Explore how AI copilots for AML are transforming anti-money laundering frameworks. Learn about best practices, common challenges, and how to effectively integrate AI solutions in AML compliance.
Ensuring Security, Scalability, and Privacy with Luci: Our GenAI Copilot
In this blog, Lucinity's technology team shares the measures taken to ensure the security of Luci, our GenAI Copilot for financial services. It highlights our use of Azure and Azure OpenAI for creating a secure, scalable, and privacy-focused infrastructure
The Role of Gen AI in Financial Scams: Balancing Innovation and Security
Explore the role of Gen AI in financial scams, its advanced fraud detection capabilities, and the necessary security measures to prevent misuse.
Considerations for Integrating AI Copilots into Compliance
Explore how AI copilots transform AML compliance with enhanced detection, operational efficiency, and cost reduction. Discover real-world applications and future trends linked to AI copilots for AML compliance.
Leveraging AI Copilots for FinCrime Prevention: How AI is Transforming Detection
Learn how AI copilots for Fincrime prevention are upgrading financial crime prevention by enhancing detection accuracy, reducing investigation times, and streamlining compliance processes.
The Role of AI Copilots in Modern Case Management and Reporting
Discover the power of a generative AI copilot for case management - enhancing efficiency, reducing costs, and ensuring thorough, auditable reviews in financial crime prevention.
Enhancing AML Investigations with AI: Efficient Strategies for Compliance Teams
Explore efficient strategies for compliance teams to enhance AML investigations using AI. Learn about advanced tools and techniques to streamline financial crime prevention.
Lucinity's AI Copilot Wins Innovation in Financial Crime Prevention at ICA Compliance Awards 2024
Lucinity won the 2024 ICA Award for Innovation in Financial Crime Prevention for its exceptional AI innovations, particularly the Luci copilot. Luci's generative AI significantly enhances operational efficiency, earning recognition for excellence in compliance and financial crime prevention.
Lucinity Featured in the Financial Times: Banks Trial AI Compliance Copilots to Minimize Burnout
Lucinity's Luci Copilot has been highlighted in a recent Financial Times Banking Risk & Regulation article on the use of AI copilots to alleviate the pressures faced by compliance teams in banks.
Lucinity's AI Innovation Recognized at Microsoft's Prestigious Global Partner Awards 2024
Lucinity's AI Innovation has been recognized at the Microsoft Global Partner Awards 2024. In collaboration with Microsoft, Lucinity has developed Luci, the GenAI copilot for financial crime operations.
Lucinity Recognized as One of the Top 100 AI Fintech Companies Globally
Lucinity has been named in the AIFinTech100 list for 2024, recognizing its innovative AI solutions in financial services. Notably, its Generative AI copilot, Luci, significantly reduces investigation times and enhances efficiencies for financial institutions.
The Complete Guide to Reducing Compliance Costs Through Automation
Explore effective strategies for reducing compliance costs through automation. Learn about compliance costs, their impact, and how technology can reduce the cost of compliance processes while improving regulatory compliance.
One Copilot for All: Introducing Luci's System-Agnostic Plugin
I'm excited to announce Luci's new system-agnostic AI copilot plugin, designed to integrate effortlessly with any financial institution's existing tech stack, boosting productivity by up to 90%
New AI Copilot Plugin is a Breakthrough for Financial Institutions, Transforming Existing, Siloed Systems in Seconds
Lucinity launches a new AI copilot plugin that is system-agnostic, acting as one central copilot that can be used on top of all web-based enterprise applications
Industry Leaders Weigh In: The Growing Impact of Generative AI in Banking
In this blog, we highlight some key research on GenAI published by Accenture and BCG, on how banks can implement GenAI for productivity gains and cost savings.
Lucinity Wins the Microsoft Partner Awards for 2024 for Partner of the Year - Iceland and Sustainability and Social Impact
Lucinity wins the Microsoft Partner Awards for 2024, taking home Partner of the Year - Iceland and the Sustainability and Social Impact awards. Leveraging Microsoft Azure, Lucinity continues to lead in financial crime prevention with innovative AI solutions and significant societal contributions.
How Generative AI Enhances Financial Crime Prevention Efforts
Discover how Generative AI is redefining financial crime prevention with advanced predictive modeling, anomaly detection, and adaptability to combat fraud effectively.
Time is Ticking: Are You Prepared for the FCA's September Deadline?
Last month, the FCA sent one of its famous ‘Dear CEO’ letters to 1,000 Annex 1 firms, warning about common failings it identified in their financial crime controls. Lucinity shares our thoughts on how to help close the gaps identified.
Evaluating Fraud Management Software: Features to Look For
Explore the fundamental features of fraud management software to look for to safeguard your organization against sophisticated fraud schemes.
5 Proven Strategies to Cut Compliance Costs for Small Businesses
Discover the top 5 ways to cut compliance costs for small businesses, enabling reinvestment in growth and job creation while maintaining regulatory adherence.
What is AML Case Management and Why is it Important?
Discover the essentials of AML Case Management, how it strengthens financial institutions against crime, and the latest challenges and solutions in maintaining anti-money laundering compliance.
Enhancing AML Compliance: Leveraging Automated Workflows
Dive into how Automated AML Workflows can transform your organization's compliance processes, boosting efficiency and accuracy. Learn how Lucinity's innovative solutions are paving the way for streamlined AML operations.
Optimizing AML Monitoring Systems: A Complete Guide
Find out how to optimize your AML compliance with modern anti money laundering monitoring systems. Learn how to streamline compliance processes, improve efficiency, and enhance financial crime operations with Lucinity's comprehensive guide and AML software.
Lucinity Wins Iceland’s Knowledge Company Award for 2024
Lucinity has won the FVH Knowledge Award for 2024, awarded by the President of Iceland to Lucinity for its unique innovations in AI.
Mastering Compliance: Strategies for an Effective Sanctions Screening Program
Discover key strategies to enhance your sanctions screening program, ensuring AML and sanctions compliance and minimizing risks in financial operations.
AML Evolution: Regulatory Changes Transforming Compliance
Discover how Anti-Money Laundering Services adapt to new regulations and transform compliance.
Beyond Compliance: The Top 5 Cross-Functional Benefits of FinCrime Software
Learn more about the cross-functional benefits of FinCrime solutions, driving benefits for the product, engineering, HR, operations, and finance teams.
Lucinity’s 7 Principles for Designing Self-Service and Configurable Compliance Software
Explore how Lucinity's seven product design principles for self-service and configurability are setting new standards in FinCrime Prevention, offering unprecedented flexibility and user experience.
Exploring The Evolution of AML Transaction Monitoring
Explore the transformation of AML transaction monitoring, understanding its progression from manual checks and then purely rule-based approaches to sophisticated AI and machine learning-based solutions like Lucinity.
Lessons from the FCA’s Sanctions Review Report on the Backdrop of OFSI’s First Disclosure Power Use
In this blog, we summarise the OFSI’s disclosure powers and FCA review of sanctions programs, and what these updates mean for your organization’s sanctions program.
Udi Nessimyan Joins Lucinity as President and Chief Revenue Officer
Udi Nessimyan is appointed as Lucinity's new President and Chief Revenue Officer. With a wealth of experience from various tech companies, Udi is responsible for developing Lucinity's GTM strategy and setting up the company for growth and long-term success.
Demystifying the AML Investigation Process: A Complete Guide to Anti-money Laundering Workflows for Compliance Teams
Understand the AML investigation process and discover how global anti-money laundering compliance teams can streamline their operations with AI. Learn more about AML compliance workflow with Lucinity.
What is a Suspicious Activity Report and How to Streamline SAR Filing
Learn what a Suspicious Activity Report (SARs) is, its crucial role in detecting financial crimes, and tips to streamline SAR filing.
Lucinity Featured in the Financial Times: Balancing Governance and Innovation in AI
Lucinity's innovative approach to artificial intelligence within the financial sector has been recognized in a recent Financial Times article about good governance co-existing with innovation.
The Future of AML Surveillance: The Role of AI in Anti-Money Laundering Compliance and Risk Mitigation
Explore how AI transforms AML Surveillance, enhancing compliance and mitigating risks in the evolving financial sector. Discover AI's role in AML now.
Reshaping Anti-Money Laundering Compliance: The Impact of AI on Financial Integrity
Explore how AI reshapes Anti-Money Laundering Compliance, enhancing detection and efficiency in combating financial crimes for better integrity.
The Fundamentals of Anti-Money Laundering (AML) and AML Compliance
Explore the basics of Anti-Money Laundering (AML) and AML Compliance, designed to protect the financial system and prevent crimes. Know More
Public-Private Partnerships (PPPs): Bridging the Intelligence Gap in FinCrime Investigations
Explore the crucial role of public-private partnerships in financial crime prevention. Understand their advantages, challenges, and global impact through real-world examples.
7 AML Regulatory Fines and Their Impact on Risk Management Frameworks
Explore how these seven AML regulatory fines in history influenced the evolution of risk management frameworks and transformed financial regulations.
Lucinity Wins Workflow Automation Award in the Chartis Research FinCrime and Compliance 50 Ranking for 2024
Lucinity has won the Chartis Research Award for Workflow Automation and has been recognized as one of the top 50 Financial Crime and Compliance companies (FCC50) for 2024 by Chartis Research.
Celebrating Tess: A New Chapter in Leadership and Innovation at Lucinity
We're thrilled to announce Tess Bercich's promotion to Chief Product Officer and her new role as a Co-Founder at Lucinity. Her talent has been vital to our growth and we're excited for what's next with Tess leading the way.
A Guide To The 3 Lines Of Defense In Compliance
Learn more about the Three Lines of Defense model in compliance and discover how the three lines coordinate for effective risk management and internal audit strategies.
The Future of FinCrime Prevention: SaaS vs. Legacy Systems
Explore the key differences between SaaS and Legacy FinCrime Prevention Software. Understand how deployment flexibility, scalability, and advanced security measures of SaaS software offer a strategic edge in combating financial crimes.
Lucinity Featured in the Financial Times: Combating AI-Driven Financial Scams
Lucinity was featured in a Financial Times article that provides a deep dive into the increasing sophistication of AI tools used for fraud, such as voice cloning and deepfakes.
A Guide to Trade Sanctions and Their Impact on Financial Institutions
Learn more about what trade sanctions are, different types and examples of trade sanctions, and the impacts of trade sanctions
FRAML Explained: Merging Fraud Prevention and Anti-Money Laundering
Explore the FRAML model, its applications in fraud and AML, the pros and cons, and how tools like Lucinity can bring together fraud and AML cases.
7 FinCrime and Compliance Trends for 2024
This blog offers a summary of the 7 FinCrime and Compliance Trends that FinCrime Prevention Teams must prepare for in 2024. Download the full report to learn more!
Behind the Scenes: The FinCrime Investigation Process
Learn more about the financial crime investigation process. Understand their levels, complexities, and challenges, and discover how Lucinity's solutions help streamline the process.
The EU AI Act: How AI Regulation Can Drive Business Advantage
This blog explores the impact of the EU's AI Act on businesses, emphasizing how this legislation ensures the safe and ethical use of AI and serves as a catalyst for innovation and growth.
A Guide to Global Financial Intelligence Units (FIUs)
Discover the main Financial Intelligence Units (FIUs) across the globe and understand their role in financial crime prevention.
Fundamentals of Generative AI in Financial Services
Explore the world of Generative AI with Lucinity's comprehensive guide. Uncover its impact on financial technology and discover the future of innovative, ethical AI solutions in finance.
Lucinity Joins Forces with Trustly to Elevate Financial Crime Prevention
Lucinity has partnered with Trustly to enhance its financial crime defenses using Lucinity's advanced technology. This collaboration is set to elevate security and compliance standards in the fintech sector, marking a significant stride in the ongoing battle against financial crime.
How to Leverage Microsoft Azure OpenAI
In a recent webinar co-hosted by Microsoft and Lucinity, industry experts gathered to discuss how to leverage Microsoft Azure OpenAI.
Lucinity Recognized as a RegTech100 Company for 2024
Lucinity has been recognized in the 2024 RegTech 100 list. The RegTech100 list highlights the most innovative businesses in the RegTech space that every financial institution must know about while developing compliance, risk, and digital transformation strategies.
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.
