Reykjavik, Iceland -- (SBWIRE) -- 08/12/2022 -- It's no secret that there has been something of a lull in 2022 where Nordic IPOs are concerned. However, a recent report from Deutsche Bank indicates that this isn't likely to continue. In fact, it said that Nordic IPOs are likely to fare a lot better before the first half of 2023 comes to a close. The Nordic region was a hive of activity in terms of new listings in 2021 - Sweden was the leader of continental European IPOs that year - but has seen this slow down considerably in 2022. Some of the reasons for this shift in the market have included the rising interest rates and recession fears that have been a theme all over the world. The tech-focused start-up market in the Nordic region has gone through a lot of turbulence this year, and there has been a significant drop in equity valuations according to Bloomberg. However, experts for the region don't expect the current downturn to be long-term or the negative impact on fundraising to last that much longer.
Nevertheless, there have been Nordic companies that have continued to raise funds, including the battery maker Northvolt that achieved $1.1 billion in funding on a valuation of $12 billion last year. Capital market transactions, in general, have slowed down over the past year, and many IPOs have been put on hold due to factors such as the war in Ukraine. However, given the Deutsche Bank forecast, 2023 could be a far more productive and active year.
While not (yet) an IPO, AML compliance platform Lucinity has been one of the Nordic companies able to secure funding with a recent $17 million Series B round. The business is growing in global profile thanks to establishing itself as a leader in the AML compliance software market, making it easy for organizations to do better where money laundering is concerned. The business is committed to the Make Money Good™ movement, and its platform simplifies the data and processes involved in combating money laundering, as well as providing a range of productivity and efficiency improvements.
The market for AML compliance remains active, and Lucinity is a key player in the Nordic region, with team members across Europe and North America. The unique 'Human AI' approach that has been employed in developing the platform combines the best of technology with all that humans bring to the table. It's a combination that is proving highly effective for many organizations globally, from Tier-1 banks to FinTechs.
About Lucinity
Lucinity is an anti-money laundering (AML) software developer on a mission to Make Money Good™ . Lucinity aims to solve productivity and efficiency issues for financial institutions through the company's 'Human AI' approach, a toolset that combines next-generation AI with human insights and expertise.
By leveraging AI, the AML software learns from every interaction and continues to improve indefinitely, providing fewer false positives and saving time. This is on top of its best-in-class interface and visualizations that put users first. Professionals can experience Lucinity's AML compliance solution, including transaction monitoring, through a free demo environment available on https://www.lucinity.com/signup.
Lucinity operates globally, with headquarters in Reykjavík, and serves customers ranging from Tier-1 banks to FinTechs.
Company Quote
Founder and CEO, Guðmundur Kristjánsson, comments, "Lucinity's unique experience in banking, compliance, regulation, and data science has helped us develop a new approach to tackling money laundering—harnessing the best of human intelligence and augmenting it with advanced AI.
Our simple-to-use systems work with analysts, not against them, complementing their skills and making them superheroes so they can take on financial crime, saving institutions time and money in the process.
We believe that by transforming AML, we can have a tremendous positive impact on society. Money laundering is a crime that fuels crime. That is why we set out on the mission of Making Money Good™."
To find out more information about AML compliance visit https://www.lucinity.com
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For more information about Lucinity services, please go to https://www.lucinity.com.
About Lucinity
Lucinity is an AML software company, founded in 2018, with offices in Reykjavík, New York, London and Brussels. Using advanced AI systems, we help banks discover money laundering and really know their customers, more efficiently – to stop the funding of serious crime across the world.