Reykjavik, Iceland -- (SBWire) -- 10/11/2022 --Crypto policy conversations are taking place on a global level today, including across the USA and Canada. In any debate over policy there is always going to be a need to balance conflicting opposites, such as innovation and safety, and the rights of the individual vs the rights of everyone else. When it comes to crypto policy this potentially becomes even more acute thanks to the significant stakes at play and the speed at which the technology evolves. Given that crypto itself is a technology - Layer 1 and Layer 2 blockchains, dApps, zk-SNARKS etc - the answer to crypto policy questions is likely to lie in other forms of technology, such as AML Software. The tech universe capable of supporting crypto is something that policy makers need to be aware of, especially as these technologies evolve to offer even more opportunities to counteract the money laundering threat.
It's true that the rules and regulations around crypto are still very much being written in many global jurisdictions. However, what is becoming obvious is that AML monitoring is going to be a vital part of ensuring that crypto platforms and transactions are safe. The right piece of AML Software with key monitoring tools built in can open the door to being able to use data to stay ahead of issues. It's also going to take a collaboration of humans and machines, with those who have inside knowledge of other asset classes applying what they know to crypto to help make policy robust.
The importance of monitoring is something that Lucinity has focused on since the company first developed its AML Software. The Lucinity platform includes comprehensive transaction monitoring with better detection, faster review and super-efficient SAR management. It also has a number of other vital features, including actor intelligence that allows an organization to gain a holistic view of customers thanks to comprehensive data analysis. The AML Software designed by Lucinity does all the hard work when it comes to helping defend an organization against the threat of money laundering. It has also been created to help streamline processes and make every aspect of an enterprise's financial crime protection efforts more efficient, including reducing alert fatigue in compliance risk processes. Lucinity software offers all the advantages of a system that combines highly effective artificial intelligence with the best elements of human intelligence, bringing together everything, from the ability of AI to analyze big data patterns to the way that humans can contextualize effectively
Tech such as Lucinity's AML Software is going to have a big role to play when it comes to helping policymakers ensure that the crypto world is fit for purpose. Today, Lucinity is expanding globally, including offices in London, New York, Brussels and Reykjavik. The business is fuelled not just by its mission to produce the best AML Software but also by core values that drive innovation and expansion. These core values focus on the best of both humans and machines, from empathy and respect through to shared intelligence.
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 Software visit https://www.lucinity.com
Lucinity are regular attendees at Anti-Money Laundering and Fin Tech Conventions around the world. To find out about upcoming Lucinity events visit https://www.lucinity.com/events
For any media enquiries please contact Gary Elliott at Iconic Digital – 020 7100 0726.
For all other enquiries please contact Lucinity at https://www.lucinity.com/contact
For more information about Lucinity services, please go to https://www.lucinity.com.
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.
AML Software Takes a Lead Role in Crypto Policy