Reykjavik, Iceland -- (SBWIRE) -- 07/28/2022 -- Iceland Innovation Week took place in June this year, highlighting some of the most exciting Nordic startups in the region today. Lucinity AML compliance software was included as one of the Top 10 unicorns contributing to the local economy, job creation and driving towards global expansion. Iceland's technology sector is alive with innovation in 2022 and the 10 companies that made it into the list are a great illustration of just how forward-focused and creative industry is here. As well as Lucinity, some of the others to make the list included Oculis, which is focused on breakthrough therapies for addressing important unmet medical needs in the eye, improving eye care and saving sight and Controlant, which has developed an innovative and industry-trusted system, to help facilitate visibility on cold chain temperatures throughout supply chains.
This kind of recognition is vital for Lucinity AML compliance software, which has the potential to make a huge difference to the battle against money laundering on a global level. The simple, stable technology has attracted the kind of investment that has pushed it into the Top 10 because it is so highly accessible. It also has an open design that makes all kinds of collaboration possible - for example, Lucinity's anti-money laundering software can integrate with Denmark's Financial Intelligence Unit, helping to improve efficiency and allow for smarter and more actionable AML oversight.
Lucinity AML compliance software has been specifically designed with ease of integration and user experience in mind. It seeks to harness the best of human intelligence and combine this with all the benefits of AI. The end result is AML compliance software that allows people and technology to work more successfully together when it comes to anti-money laundering. It also offers businesses the opportunity to better optimise AML data, for example to use behavioural insights to help identify those customers that might present a risk to the business and to mitigate overall exposure.
Established in 2018, Lucinity has a base in Reykjavík, hence the inclusion in Iceland Innovation Week, and has also become established in a number of other locations around the world. These include London, New York and Brussels. One of the reasons why Lucinity AML compliance software is so widely recognised is because it brings together expertise and experience in banking compliance, regulation and data science to create a product that really works. The firm's commitment to Make Money Good is structured around three key components - the Lucinity SAR manager, actor intelligence and transaction monitoring. As money laundering is a crime that fuels crime, this kind of intervention can make all the difference when it comes to reducing the impact that it has society-wide.
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 Software 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.