Lucinity Partners with Sift for Unified Fraud and AML Case Management

San Francisco, United States, September 19th, 2024 – Lucinity and Sift have announced a partnership, unifying fraud and Anti-Money Laundering (AML) into Lucinity’s integrated FinCrime compliance platform for case management, agent-enabled workflow automation, and Generative AI.

Sift is an AI-powered fraud platform securing digital trust for leading global businesses. Its Global Data Network analyzes more than 1 trillion events and identity signals per year to prevent fraud across the entire consumer journey. Lucinity and Sift formed this new partnership to address the challenges of fragmented fraud and AML systems, aiming to centralize and enhance financial crime investigations.

Sift’s AI-powered solution will now be integrated into Lucinity’s platform. This collaboration enhances Lucinity's ability to provide a seamless and efficient compliance solution. It allows teams to review and manage fraud alerts more effectively through Lucinity's unified Case Management system, thanks to the native integration between the systems. Key benefits to Lucinity’s users include:

• Real-Time Fraud Screening: Payments are screened for potential fraud in real time, utilizing Sift's fraud detection capabilities.
• Automatic Payment Holds: Payments suspected of fraud are temporarily held, ensuring verification before processing.
• Streamlined Reviews: Compliance teams can conduct thorough reviews of flagged payments within Lucinity's Case Management solution.
• Risk Level Adjustments: Fraud detection parameters can be customized to adjust sensitivity levels, adapting to emerging fraud trends and risk appetites.

This partnership also enables users to leverage Lucinity’s Generative AI capabilities through the Luci copilot to investigate fraud cases more efficiently.

Udi Nessimyan, President and Chief Revenue Officer of Lucinity, comments, “One of the greatest challenges in fighting financial crime is fragmented systems and data. Our partnership with Sift helps address this challenge by providing a centralized platform for various case types, including AML, fraud, sanctions, and ad hoc cases. Our collaboration significantly enhances the productivity of investigation teams, reducing the time spent on cases from hours to minutes.”

Sift’s Chief Marketing Officer, Armen Najarian, emphasizes the collaborative effort to enhance financial crime prevention, stating, “Cybercriminals are increasingly leveraging AI to bypass traditional anti-money laundering and fraud controls, creating sophisticated and dynamic threats. To combat these evolving risks, companies must adopt a 'fight fire with fire' approach by leveraging AI-powered solutions. Through Sift’s partnership with Lucinity, businesses can stay ahead of fraudsters, ensuring robust protection against abuse and enabling fearless growth."

About Sift

Sift is the AI-powered fraud platform securing digital trust for leading global businesses. Our deep investments in machine learning and user identity, a data network scoring 1 trillion events per year, and a commitment to long-term customer success empower more than 700 customers to grow fearlessly. Brands including DoorDash, Yelp, and Poshmark rely on Sift to unlock growth and deliver seamless consumer experiences. Visit us at sift.com and follow us on LinkedIn.

About Lucinity

Lucinity is an AI software company based in Reykjavik, Iceland, focused on enhancing financial crime operations. Their platform integrates data, automated workflows, and a user-friendly interface to improve productivity and efficiency in the financial sector. The partnership with Sift further enhances Lucinity’s offerings, providing a unified FinCrime prevention tool for compliance professionals.

Learn more about Lucinity at www.lucinity.com.

Media Contact:
Celina Pablo
PR Manager, Lucinity
celina@lucinity.com