Reykjavik, Iceland -- (SBWire) -- 11/02/2022 --Recent events have made it even more important for organisations and regulators to get better at spotting, and stopping, financial crime. The global pandemic, followed by the cost-of-living-crisis in the UK, opened the door to a whole wave of financial crime where criminals seek to exploit individual vulnerabilities and organisational weaknesses. That's why the UK regulator - the Financial Crime Authority - has made fighting financial crime a key priority - and where technology like Anti-Money Laundering Software can make all the difference.

Fighting financial crime requires the commitment and contribution of individuals and businesses from all across the spectrum. A crime like money laundering has an immediate impact on businesses but will also fuel a whole range of other crimes, such as drug trafficking. That's why minimising exposure to financial crime can have such a broad ranging impact. Anti-Money Laundering Software is one of the most effective tools that governments and organisations have when it comes to strengthening existing defences against financial crime. This is something that is increasingly being recognised as regulators like the FCA focus more on how data and analytics - used in real time - can help to spot fraud at source and encourage firms to get more specific when it comes to financial crime controls. As a representative of the FCA recently said, "we can't leave crime spotting to legal, compliance or other experts" - this is a job that everyone must take on. Anti-Money Laundering Software is one way to make that job much simpler.

Lucinity Anti-Money Laundering Software is designed to give organisations a very simple but powerful tool when it comes to fighting financial crime and protecting an individual enterprise. The software has been created as a way for businesses to minimise the risk of financial crime and also to ensure that there is transparency in terms of the processes and procedures in place. Lucinity has also engineered its software to be able to offer productivity benefits and to tackle some of the specific challenges that are generated by money laundering, including reducing alert fatigue in compliance risk processes. This is achieved through a series of vital functions, including transaction monitoring, actor intelligence and a comprehensive SAR manager. The Anti-Money Laundering Software created by Lucinity has already made a big difference to businesses all over the world that have been involved in fighting financial crime, protecting their own internal systems and revenues - and broader society - from the negative impact something like money laundering can have if it goes unchecked.

Since 2018, Lucinity has been delivering Anti-Money Laundering Software that really works. During these years the business has grown to a multi-location enterprise with offices in London, New York, Brussels and Reykjavik. Today, Lucinity is a key name in Anti-Money Laundering Software and renowned for smart systems that integrate the best of both human and artificial intelligence. The business has grown swiftly but organically, fuelled by core values that include the pursuit of excellence with humility and integrity and 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 Anti-Money Laundering 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.