Lucinity has been featured in a MarketWatch opinion article by Barry McCarthy, which discusses the transformative role of Artificial Intelligence in fighting financial crime and reducing costs for banks.
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.
The Bank of International Settlements (BIS) Innovation Hub Nordic Centre and Lucinity have partnered on an innovative initiative called Project Aurora. Project Aurora aims to tackle the global challenge of money laundering in cross-border transactions.
"AI and machine learning tend to be better than humans at convergent thinking. Humans, on the other hand, tend to excel in divergent thinking – the ability to come up with new solutions, underlined by a greater sense of nuance."
In February 2023, the Financial Conduct Authority (FCA) published a Synthetic Data Feedback Statement that Lucinity contributed to. Read further for a summary of Lucinity's perspective on the challenges and opportunities of using synthetic data, specifically within financial crime.
"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."
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