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Lucinity unveils generative AI-powered financial crime compliance copilot

Lucinity unveils generative AI-powered financial crime compliance copilot

Lucinity has launched a generative AI-powered 'copilot' designed to boost the productivity of financial crime compliance teams.

Founded by a former Citigroup compliance tech expert, Iceland-based Lucinity is an AI SaaS company specialising in financial crime compliance.

The firm's new copilot, called Luci, helps render complex data into understandable insights in real-time, so compliance teams can streamline their work, reduce time spent on decision-making, and increase overall efficiency.

Gudmundur Kristjansson, CEO, Lucinity, says: "Luci isn't just an AI tool - it's a game-changer. It represents a significant leap forward in financial crime compliance, fundamentally reshaping the way professionals in this field operate.

"We're not talking about incremental improvements here; we're talking about turning a process that used to take hours into one that takes minutes,"

The proprietary technology, developed on top of Microsoft's Azure OpenAI, has already been used in trials with Visa-owned Currencycloud and Arion Bank.

Will Staples, group MLRO, Currencycloud, says: "Its [Luci's] ability to transform complex AI findings into actionable insights empowers our team to make faster, more informed decisions, saving valuable time and resources."

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