Lucinity
Founded Year
2018Stage
Series B | AliveTotal Raised
$25.1MLast Raised
$17M | 2 yrs agoMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-82 points in the past 30 days
About Lucinity
Lucinity is a company focused on augmenting anti-money laundering (AML) compliance through artificial intelligence (AI) in the financial technology sector. The company offers a platform that provides AI-driven customer insights, transaction monitoring, regulatory reporting, and workflow management to help businesses manage compliance more efficiently. Lucinity primarily serves startups, scale-ups, enterprises, banks, and payment service providers. It was founded in 2018 and is based in Reykjavik, Iceland.
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Lucinity's Product Videos
ESPs containing Lucinity
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The transaction monitoring market offers solutions to detect and prevent financial crime by monitoring customer transactions for unusual activity. Many solutions utilize artificial intelligence and machine learning to identify anomalous activity and reduce human bias. These solutions are a key part of anti-money laundering (AML) compliance programs. The technologies and tools that enable organizat…
Lucinity named as Challenger among 15 other companies, including ThetaRay, ComplyAdvantage, and Feedzai.
Lucinity's Products & Differentiators
Transaction Monitoring - Detection
Transaction Monitoring detects, reviews and files suspicious behavior to regulators. With customer-based detection, you can monitor your customers’ activity through their transaction network and compare their actions to past behavior and peer group activity, ensuring a leading position in compliance. Meet your regulatory requirements with our behavior detection engine. The behaviors are continually updated to ensure compliance with the latest regulations. Lucinity ensures the most appropriate detection method depending on the money laundering behavior in question. We empower our customers to have full insight and transparency into the detection engine and provide self-service capabilities.
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Research containing Lucinity
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Lucinity in 1 CB Insights research brief, most recently on Dec 14, 2023.
Dec 14, 2023
Cross-border payments market mapExpert Collections containing Lucinity
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Lucinity is included in 2 Expert Collections, including Regtech.
Regtech
1,653 items
Technology that addresses regulatory challenges and facilitates the delivery of compliance requirements. Regulatory technology helps companies and regulators address challenges ranging from compliance (e.g. AML/KYC) automation and improved risk management.
Fintech
13,396 items
Excludes US-based companies
Lucinity Patents
Lucinity has filed 4 patents.
The 3 most popular patent topics include:
- artificial intelligence
- artificial neural networks
- computational neuroscience
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
9/14/2020 | 7/23/2024 | Artificial neural networks, Artificial intelligence, Neural networks, Computational neuroscience, Machine learning | Grant |
Application Date | 9/14/2020 |
|---|---|
Grant Date | 7/23/2024 |
Title | |
Related Topics | Artificial neural networks, Artificial intelligence, Neural networks, Computational neuroscience, Machine learning |
Status | Grant |
Latest Lucinity News
Sep 20, 2024
Lucinity and Sift have announced a partnership, unifying fraud and Anti-Money Laundering (AML) into Lucinity’s integrated FinCrime compliance platform for case management, agent-enabled workflow automation, and Generative AI. Sift is an AI-powered fraud platform securing digital trust for leading global businesses. Its Global Data Network analyzes more than 1 trillion events and identity signals per year to prevent fraud across the entire consumer journey. Lucinity and Sift formed this new partnership to address the challenges of fragmented fraud and AML systems, aiming to centralize and enhance financial crime investigations. Sift’s AI-powered solution will now be integrated into Lucinity’s platform. This collaboration enhances Lucinity’s ability to provide a seamless and efficient compliance solution. It allows teams to review and manage fraud alerts more effectively through Lucinity’s unified Case Management system, thanks to the native integration between the systems. Key benefits to Lucinity’s users include: Automatic Payment Holds: Payments suspected of fraud are temporarily held, ensuring verification before processing. Streamlined Reviews: Compliance teams can conduct thorough reviews of flagged payments within Lucinity’s Case Management solution. Risk Level Adjustments: Fraud detection parameters can be customized to adjust sensitivity levels, adapting to emerging fraud trends and risk appetites. This partnership also enables users to leverage Lucinity’s Generative AI capabilities through the Luci copilot to investigate fraud cases more efficiently. Udi Nessimyan, President and Chief Revenue Officer of Lucinity, comments, “One of the greatest challenges in fighting financial crime is fragmented systems and data. Our partnership with Sift helps address this challenge by providing a centralized platform for various case types, including AML, fraud, sanctions, and ad hoc cases. Our collaboration significantly enhances the productivity of investigation teams, reducing the time spent on cases from hours to minutes.” Sift’s Chief Marketing Officer, Armen Najarian, emphasizes the collaborative effort to enhance financial crime prevention, stating, “Cybercriminals are increasingly leveraging AI to bypass traditional anti-money laundering and fraud controls, creating sophisticated and dynamic threats. To combat these evolving risks, companies must adopt a ‘fight fire with fire’ approach by leveraging AI-powered solutions. Through Sift’s partnership with Lucinity, businesses can stay ahead of fraudsters, ensuring robust protection against abuse and enabling fearless growth.”
Lucinity Frequently Asked Questions (FAQ)
When was Lucinity founded?
Lucinity was founded in 2018.
Where is Lucinity's headquarters?
Lucinity's headquarters is located at Borgartún 25, Reykjavik.
What is Lucinity's latest funding round?
Lucinity's latest funding round is Series B.
How much did Lucinity raise?
Lucinity raised a total of $25.1M.
Who are the investors of Lucinity?
Investors of Lucinity include Crowberry Capital, byFounders, Karma Ventures, Experian, Keen Venture Partners and 4 more.
Who are Lucinity's competitors?
Competitors of Lucinity include Hawk, Napier, Salv, ThetaRay, ComplyAdvantage and 7 more.
What products does Lucinity offer?
Lucinity's products include Transaction Monitoring - Detection and 3 more.
Who are Lucinity's customers?
Customers of Lucinity include Kvika.
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Compare Lucinity to Competitors
ComplyAdvantage operates as a financial crime risk data and detection platform using artificial intelligence (AI). It offers a database of people and companies to help organizations identify risk events from structured and unstructured data points. It serves banks, insurance, payments, cryptocurrency, and more sectors. ComplyAdvantage was formerly known as Mimiro. The company was founded in 2014 and is based in London, United Kingdom.
Quantexa operates as a data and analytics software company providing a range of decision intelligence software. It offers solutions for data management, know your customer (KYC), customer intelligence, financial crime, and security throughout the customer lifecycle. It serves the banking, government, insurance, and communication service providers (CSP) sectors. It was founded in 2016 and is based in London, United Kingdom.
Silent Eight specializes in leveraging artificial intelligence to combat financial crime within the financial technology sector. The company offers a suite of AI-driven solutions that streamline alert processing, enhance due diligence through name screening, and provide real-time transaction screening and continuous monitoring to detect suspicious activities. These solutions primarily serve financial institutions looking to comply with anti-money laundering and counter-terrorist financing regulations. It was founded in 2013 and is based in Singapore.
ThetaRay provides an artificial intelligence (AI) powered transaction monitoring solution. It allows payment financial technology and banks to expand their business opportunities and grow revenues through cross-border and domestic payments. The company offers an AI-powered transaction monitoring system, Sound Navigation and Ranging (SONAR), which is designed to detect and prevent money laundering and other financial crimes. The company was founded in 2013 and is based in Hod Hasharon, Israel.
Hawk specializes in anti-money laundering (AML) and counter-financing of terrorism (CFT) technology within the financial services industry. The company offers a suite of tools that leverage explainable artificial intelligence to enhance risk detection, streamline compliance, and reduce operational costs. Hawk's products are designed to screen payments, monitor transactions, and assess customer risk, ensuring adherence to global regulatory standards. It was founded in 2018 and is based in Munich, Germany.
Unit21 operates as a detection and investigations platform for anti-money laundering. It helps protect businesses against adversaries through a simple application programming interface (API) and dashboard for detecting and managing money laundering, fraud, and other sophisticated risks across multiple industries. The company was founded in 2018 and is based in San Francisco, California.
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