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.
In a recent article, Raconteur explored pertinent questions surrounding the use of payment tech for cross-border payments. Our Product Manager, Roger Bush, specifically gave useful insights about mitigating risk and ensuring compliance.
Within the scope of mitigating risk, false positives make it difficult for compliance teams to work efficiently. False positives occur when a legitimate transaction is flagged as suspicious. However, they could be eliminated - almost entirely - by deploying the right technology.
Roger goes on to further explain, "False positives are frequently a close match to entries on international sanctions lists and payments often trigger simple rules designed to cover regulatory red flags."
The AI Approach To Driving Efficiency In Payment Technology
Lucinity knows that using adaptive tech is essential to keeping teams working as efficiently as possible. Roger explained:
Using modern technology that lets you continually tune and optimize your detection system is vital, as is embracing newer approaches such as machine learning and artificial intelligence to remove as much of the noise as possible.
