Learn more about the cross-functional benefits of FinCrime solutions, driving benefits for the product, engineering, HR, operations, and finance teams.
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.
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.
The blog highlights how generative AI and copilots are transforming Suspicious Activity Reporting, making it more consistent and efficient, and generating higher-quality reports.
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.
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.
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.
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.
Lucinity explores Generative AI such as chatGPT offers exciting opportunities for Financial Institutions, particularly in the field of Financial Crime and compliance investigations.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
Rethinking the role of AML compliance using technology both unlocks cost offsetting for compliance and provides insights in customer data for revenue-generating opportunities.
We have the technology that, when applied correctly, can boost AML productivity, and turn around the traditional view of compliance as a pure cost center.
GK, Lucinity’s founder, and CEO joins D. Edward Wilson to discuss the way out of the long night of AML and the bringing forward of a new dawn of compliance.
"It’s so important we push technology to the frontline, as our chief weapon against money launderers. In doing so, it can also act as the critical bridge between banks and regulators across the world."
Theresa has been a crucial part of our mission to Make Money good by leading our product development through an innovative perspective on AI and technology.
We aspire to bring new and exciting approaches to the AML market while sympathizing with our customers’ struggles and understanding their situation. Ed helps us to do just that.
Lucinity’s new Head of Legal and Compliance, Daníel Pálmason, shares his experience of becoming the company’s first customer and the decision to join our team.
The global AML community still has to make a few adjustments to get on the same page, but with the support of influential organizations like FinCEN, we’re well on our way.
The next stepping stone in Lucinity’s growth curve as Daníel Pálmason is joining Lucinity as the Head of Legal and Compliance, and Jeremy Doyle as the Global Head of Sales.
With the help of machines and intelligent tools such as the Lucinity platform, we can understand AI and leverag it for making the right decisions quickly.