Reykjavik, Iceland -- (SBWire) -- 10/21/2022 --The financial services group SEB has established a new Anti-Money Laundering Compliance Unit in recognition that financial crime remains one of the key challenges for the financial services industry. The new unit has been populated by a very experienced team that includes the former Head of Intelligence Development, Investigations and Analytics at Nordea and a senior figure from the Swedish police. The purpose of the new unit will be to drive SEB's Anti Money Laundering Compliance up a level and increase strategic intelligence and capacity development to combat financial crime. SEB aims to become a leader in the fight against financial crime and the new unit shows just how seriously this financial services company takes the challenges that exist for Anti Money Laundering Compliance today.
The company described the establishment of the new unit within SEB as "part of SEB's continuous efforts to strengthen our defenses against financial crime and our ability to detect, prevent and report suspicious activity." The company has also recognised the power of collaboration when it comes to Anti Money Laundering Compliance, which is why the new unit includes members of the police. It has become crucial for banks in Sweden to show genuine progress in the fight against financial crime and to introduce many more measures for Anti Money Laundering Compliance. This comes in the wake of the launch of the Swedish Anti-Money Laundering Intelligence Task Force two years ago, which has defined a new era in combating financial crime in the Nordics.
This is a new era that is dawning on a global level and one that Lucinity continues to support with software that is designed to make Anti Money Laundering Compliance much easier to do. The Lucinity platform delivers a genuinely useful set of tools for organisations that are keen to fill Anti Money Laundering Compliance loopholes and reduce exposure to financial crime. These tools include transaction monitoring, actor intelligence and SAR management. The reason the Lucinity software has proven so effective is that it integrates the capabilities of both human and artificial intelligence. Features such as planning and execution and creatively combining numbers are drawn from what humans can do and assessing probabilities and crunching large volumes of data from artificial intelligence capacity. This produces a potent combination that has made a real difference to Anti Money Laundering Compliance for organisations globally.
As a result, Lucinity continues to expand so that more businesses internationally can have access to its innovative Anti Money Laundering Compliance model. Today, the Lucinity network of offices includes London, New York, Brussels and Reykjavik and the business continues to expand. Ever since it was first established in 2018, Lucinity has been focused on ensuring that growth is aligned with core values. These include shared intelligence and continuous learning. Lucinity is also committed to helping Make Money Good and breaking the stranglehold that financial crime has on businesses worldwide through more robust Anti Money Laundering Compliance measures.
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 Anti Money Laundering Compliance 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
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- 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.
Swedish Finance Group Establishes New Anti-Money Laundering Compliance Unit