Reykjavik, Iceland – Lucinity, a leader in AI-driven financial crime investigations, has been awarded Partner of the Year – Iceland and Sustainability and Social Impact at the 2024 Microsoft Partner Awards. These awards highlight Lucinity’s dedication to innovation and societal contributions through its advanced AI solutions.
The Microsoft Partner Awards recognize exceptional achievements by partners who demonstrate excellence in innovation and implementation of customer solutions based on Microsoft’s technology. Lucinity’s win in two categories highlights its vital role in powering digital transformation and positive social impact within the financial sector.
Guðmundur Kristjánsson (GK), Lucinity’s Founder and CEO, commented – “These awards are a testament to the strength and reliability of our solutions, made possible by our strategic partnership with Microsoft. Utilizing Microsoft Azure, we have been able to drive rapid innovation and create a robust, scalable platform that meets the rigorous requirements of compliance teams.”
Microsoft Partner Awards
The Microsoft Partner of the Year Awards is a program that acknowledges outstanding successes and innovations by Microsoft partners in over 100 countries. The annual awards celebrate the outstanding work of Microsoft partners in delivering effective solutions that drive digital transformation and positive societal impact.
The focus is on the innovative use of Microsoft technologies to solve complex business challenges and deliver significant customer value. Achievements across a variety of categories and industries are considered and awarded in respective categories. These include cloud-to-edge technologies, entrepreneurial spirit, social impact, and more.
Lucinity’s Achievements
Lucinity’s recognition as ‘Partner of the Year – Iceland’ acknowledges its exceptional work in financial crime investigations. Leveraging Microsoft Azure, Lucinity launched Luci, the world’s first AI copilot for financial crime prevention, in June 2023. Luci offers specialized skills for adverse media checks, case analysis, and SAR writing, significantly reducing investigation times from 3 hours to just 30 minutes. This efficiency translates into substantial savings for Tier 1 banks, estimated at $100 million annually.
The Sustainability and Social Impact award highlights Lucinity’s commitment to counter financial crime, which poses major economic, security, and social risks globally. By integrating AI with human expertise, Lucinity’s solutions enhance the effectiveness and user-friendliness of financial crime prevention. The AI-powered Luci copilot transforms complex processes into quick and actionable insights, optimizing how financial institutions address compliance challenges.
Microsoft emphasizes Lucinity’s role – “Financial crime profoundly impacts our global community, with far-reaching economic, security, and social implications. It can harm a country’s reputation and increase exposure to criminal activities, emphasizing the critical need for robust anti-money laundering initiatives and persistent vigilance. Lucinity, with their innovative AI solutions, has really tried to combat this huge global challenge. They use ‘Human AI’ to enhance financial crime prevention, combining AI with human expertise for efficient, user-friendly solutions. Additionally, Lucinity has developed a tool called Luci, an AI-powered copilot that helps transform financial crime prevention from a process that took hours to one that takes minutes.”
Lucinity plans to continue leveraging Microsoft Azure to enhance its AI capabilities, ensuring scalable and effective solutions for financial institutions worldwide.
About Lucinity
Lucinity is a leader in generative AI technologies for financial institutions that offers a comprehensive SaaS platform designed to combat financial crime. As an open, configurable, no-code platform, Lucinity offers seamless integration of data, automated workflows, and a modern user interface, making it a key tool for enhancing productivity and operational efficiency in the financial sector. The platform also integrates seamlessly with existing systems and enhances intelligence gathering, analysis, and decision-making. This allows institutions to streamline compliance operations and reduce costs.
Learn more about Lucinity at www.lucinity.com.
Media Contact
Company Name: Lucinity
Contact Person: Celina Pablo, Senior Marketing Manager
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Country: Iceland
Website: www.lucinity.com