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.

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Reykjavik, Iceland, June 27, 2024Lucinity has been recognized as a finalist in the AI Innovation category at the prestigious Microsoft Global Partner Awards 2024, recognizing its breakthrough AI solution and contribution to financial security through its collaboration with Microsoft. 

Lucinity stood out amongst 4,700 entries as a finalist at the annual Microsoft Global Partner Awards, which highlights Lucinity’s achievements as a Microsoft partner in optimizing business processes, improving customer experiences, and opening new pathways for digital transformation. 

This achievement comes in addition to winning two prestigious awards at Microsoft Partner Awards 2024 last month, including Partner of the Year - Iceland, and the Sustainability and Social Impact award.

The accolade recognizes Lucinity's significant advancements in AI for financial crime operations, particularly through their AI-powered copilot, Luci. This innovative solution utilizes Microsoft Azure OpenAI technology to integrate advanced generative AI into financial crime investigations and regulatory compliance, optimizing processes and saving significant time and resources for financial institutions.

The Lucinity platform streamlines compliance, provides instant insights, and reduces typical investigation times from three hours to just 30 minutes. The technology can also save financial institutions an estimated $100 million in productivity savings, as well as savings in training and recruitment. 

Microsoft comments on Lucinity’s award recognition, saying “Financial crime profoundly impacts our global community, with far-reaching economic, security, and social implications. It can harm a country's reputation and increase exposure to criminal activities, emphasizing the critical need for robust anti-money laundering initiatives and persistent vigilance. Lucinity, with their innovative AI solutions, has really tried to combat this huge global challenge. They use 'Human AI' to enhance financial crime prevention, combining AI with human expertise for efficient, user-friendly solutions. Additionally, Lucinity has developed a tool called Luci, an AI-powered copilot that helps transform financial crime prevention from a process that took hours to one that takes minutes."

"Being recognized as a finalist at the Microsoft Global Partner Awards is  validation of our impactful collaboration with Microsoft in financial crime operations. Our partnership has been pivotal for our innovations, enabling us to use Azure OpenAI to bring tools like Luci to life and deliver impactful results for our clients,” says Guðmundur Kristjánsson, Founder & CEO of Lucinity.

About Lucinity

Lucinity is an innovation-driven SaaS firm that develops AI-powered solutions to empower financial crime prevention and AML compliance. Lucinity utilizes the latest technologies through partnerships with industry leaders like Microsoft to accelerate their inventions. This has led to a comprehensive suite of advanced yet user-friendly tools that effectively reduce review times, amplify insights, and enhance operational efficacy. Lucinity is trusted by renowned companies globally to help achieve compliance, drive operational excellence, and mitigate financial risks.

Media Contact:
Celina Pablo
Senior Marketing Manager, Lucinity

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