Kvika steps into the future

Only a few months after setting out on a mission to transform anti-money-laundering through augmented intelligence, we are delighted to welcome our latest customer, Kvika.

Who is Kvika?

Kvika is an Icelandic bank with operations in Iceland and the UK. The Banker selected Kvika as the best bank in Iceland in 2018, and it has achieved impressive growth over the last few years. Kvika prides itself on speedy, personal, and versatile services, making Lucinity the perfect partner.

How does Lucinity help?

Lucinity analyses behavior patterns in transaction data to find money-laundering. By using various models and sophisticated AI technologies, we can find more money-laundering with greater accuracy than legacy systems. Our platform raises alerts around the actors suspected of laundering and hands it over to compliance departments for review. The compliance departments review the cases within our beautiful case manager, which helps them work at top speed with superior accuracy.

Why does Lucinity make sense for Kvika?

As Kvika continues its growth, staying lean is a fundamental challenge. Lucinity’s focus on automation and super-fast and easy processes really help with that. Daniel Pálmason Kvika’s chief compliance officer agrees:

“We anticipate that Lucinity’s solution will immediately strengthen Kvika’s AML and play an important role in risk-based surveillance. The automatic nature of the solution will increase productivity in AML without any security compromises. We are also very excited about future rollouts from Lucinity which will include ingredients for even better and more efficient AML processes.”

Daniel Pálmason Kvika, CCO

Daníel Pálmason, Kvika’s CCO, and GK, Lucinity’s founder.

A great partnership

Working with Kvika towards deployment has been a joy. Everything is moving according to plan, and Kvika’s compliance and IT departments are laser-focused on the right things. We share Kvika’s passion for a new AML world where deep-tech and automation rules and we are excited about the future.

You are invited!

There are extra seats available in the time machine! If you are interested in learning more about the Lucinity solution and possibly joining us on the crusade against outdated AML, please contact us at hello@lucinity.com.

For more information about Kvika, visit www.kvika.is.