Reykjavik, Iceland -- (SBWIRE) -- 08/12/2022 -- A robust transaction monitoring system is becoming increasingly vital to enterprises that are serious about reducing exposure to money laundering. As this becomes more of a priority to businesses large and small, the transaction monitoring system market is growing significantly every year. In fact, between now and 2030, growth is going to be exponential. The market is currently made up of a number of different players sharing a tranche of sales, including Lucinity, which is dedicated to making it simple for businesses to access an effective transaction monitoring system that comes as part of an efficient and useful platform. Growth in the market for transaction monitoring software is expected across a number of key regions, including Europe, North America, Latin America and the Asia Pacific.
Today, the market for any business offering a transaction monitoring system is a competitive one - there are many different options out there with a range of different infrastructure choices available, including cloud, hybrid and on-premise. Activity within the industry is also driving change across the market, including mergers and acquisitions between various different players. The platform provided by Lucinity has been designed to take the complexity out of the process of investing in a transaction monitoring system. Aside from sophisticated but simple transaction monitoring, Lucinity also offers extensive actor intelligence and the Lucinity SAR Manager.
When it comes to supporting businesses in preventing money laundering, the team at Lucinity has learned how important it is to provide a system that is not only simple to use but also has benefits when it comes to organizational productivity. Integrating AI and human intelligence has been key to this, creating the opportunity for both to play to their individual strengths. For example, this blends the human talent of creatively combining numbers and also achieving planning and execution with the contribution that AI can make in terms of analyzing big data patterns and assessing probabilities. The end result is a platform that is sophisticated and effective but driven by human values, perspective and intelligence.
Lucinity was established in 2018 and has grown as a business in the intervening years, supporting organizations all over the world looking for an effective transaction monitoring system. Today, the company has offices in Reykjavík, New York, London and Brussels and continues to grow. Its mission to Make Money Good™ is ensuring that anti-money laundering resources are much more available and simpler and easier to use.
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 Transaction monitoring System visit https://www.lucinity.com
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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.