In the realm of innovation, there are moments when dreams break free from the abstract and manifest as tangible reality—an idea morphs into a product with the potential to redefine an industry. Last week, we made strides with Project Aurora. But today, I'm excited to share a deeply personal milestone, one that's been five years in the making: the launch of Luci. It's not just an AI tool—it's a game-changer, moving financial crime prevention from a process that took hours to one that takes minutes. Today, Lucinity reaches a pivotal moment, and personally, I take my giant leap.
Rewind to 2019: my exceptional colleagues Justin & Theresa (she was a data scientist back then, now our VP of Product) and I were surrounded by sketches, design blueprints, and algorithm layouts sprawled across a large table in our humble office in the Reykjavik Fintech Cluster at Laugavegur 77 in Reykjavík. We had an ambitious goal: to craft an intelligent tool that could transform financial crime prevention, a tool that would harness the incredible power of Artificial Intelligence (AI) and, more importantly, generative AI. That tool was our first concept for Luci.
As we ventured into this bold undertaking, we recognized that we were slightly ahead of our time. The technology landscape was in flux, and while many were only beginning to grasp the potential of AI in transaction monitoring, we were envisioning its application on a far larger scale. We saw AI not just as a tool for transaction monitoring but as a key to unlocking profound insights about customers and optimizing the entire financial crime prevention process.
The original concept vision for Luci – early 2019
And so, we pivoted. Instead of rushing into creating Luci, we decided to construct a robust Augmented Intelligence platform. This platform was designed not only to give augmented intelligence insights on the customers of our customers but also to serve as a sturdy foundation for Luci. We aimed to ensure that once technology had caught up with our vision, Luci could be seamlessly integrated into our user experience.
As we toiled over the years, refining and perfecting our platform, we always reserved a place for Luci. We kept our eyes on the horizon of technological progress, believing that as technology matured, so would our capacity to realize Luci. And in 2023, when Microsoft released OpenAI on Azure, we knew the time had come – now we could do it at scale, with the security needed and under the ethical AI pledge that we hold ourselves accountable to.
We swiftly leveraged this groundbreaking technology and incorporated it into our platform. The speed of this integration was a testament to our foresight and meticulous planning, having established that foundation for Luci years prior.
Fast forward to 2023: Money2020 Europe
Now, as I stand on the stage at Money 20/20 in Amsterdam, I am incredibly proud to introduce the world to Luci. Our AI copilot, which for years remained a dream, is now here to redefine financial crime prevention.
Reflecting on our journey, a profound sense of pride and accomplishment washes over me. We set out to bring about a transformation in financial crime prevention, and today, with Luci, we have turned that dream into reality. Every late-night discussion, every meticulous refinement, every stride we made in developing our platform—all have culminated in this extraordinary moment. And yet it is another beginning, setting us on a path for even bigger and more audacious dreams.
Our journey is a testament to our unwavering determination, resilience, and belief in our vision. With Luci, we stand at the forefront of AI innovation, bringing unprecedented efficiency and accuracy to financial crime prevention. As I often say, at Lucinity, we're not merely creating superior products; we're tirelessly striving to 'Make Money Good'.
To witness firsthand how Luci is poised to transform financial crime prevention, join us in our continued journey at www.lucinity.com/luci. Discover the power of Luci and be a part of the change we're ushering in.
In anticipation of what's to come,
Gudmundur Kristjansson (GK)
Founder and CEO, Lucinity