Lucinity has unveiled an innovative generative AI-driven “copilot” designed to enhance the productivity of compliance teams dealing with financial crimes.
Established by a former compliance technology expert from Citigroup, the Iceland-based company specializes in AI software solutions for financial crime compliance.
The new assistant, named Luci, is engineered to convert complex datasets into clear, actionable insights in real time. This capability allows compliance teams to optimize their workflows, significantly cut down on decision-making time, and boost overall productivity.
According to Gudmundur Kristjansson, CEO of Lucinity, “Luci is more than just an AI tool—it’s a transformative force in financial crime compliance. This advancement radically changes how professionals in the sector operate.”
He elaborated, “We’re not merely introducing incremental enhancements; we’re revolutionizing a process that traditionally required hours, reducing it to mere minutes.”
This proprietary technology, built on Microsoft’s Azure OpenAI, has already undergone successful trials with notable partners such as Visa-owned Currencycloud and Arion Bank.
Will Staples, Group MLRO at Currencycloud, commented on Luci’s capabilities, stating, “Its ability to translate intricate AI findings into actionable insights enables our team to make quicker, more informed decisions, ultimately saving valuable time and resources.”