Iceland-based AML software company Lucinity has integrated with Open Banking payments provider Trustly to augment its financial crime prevention operations. Lucinity's sophisticated AI-driven solutions, known for their capability to detect and mitigate financial crimes, will enable Trustly to bolster its defence mechanisms against evolving threats in the financial industry.

By leveraging Lucinity's expertise, Trustly aims to fortify its commitment to maintaining the highest standards of security and compliance. Officials from Lucinity said they are happy to join forces with Trustly to further strengthen the defences against financial crime. Lucinity's technology is designed to adapt to the ever-changing landscape of illicit activities, providing Trustly with a robust shield to safeguard its operations.

Trustly, known for its innovative and secure payment solutions, recognises the paramount importance of staying ahead in the battle against financial crime. The collaboration with Lucinity aligns with Trustly's dedication to providing a secure and seamless experience for its users. Lucinity and Trustly's joint commitment to excellence and innovation in the financial technology sector is clearly demonstrated through their collaboration.

As both companies continue to evolve, this joint effort is poised to set new benchmarks in the fight against financial crime. Previous news from Lucinity In February 2023, Icelandic neobank, indó, has chosen Lucinity as its Anti-Money Laundering (AML) compliance software, incorporating Transaction Monitoring and Case Manager solutions. Lucinity's Transaction Monitoring offers behaviour-based risk screening and explainable AI, providing a manageable caseload for AML teams.

The Case Manager enhances decision-making with contextual data visualisations, improving efficiency. indó, established in 2018, prioritises transparency and received its Icelandic banking license in 2022. The neobank sought a scalable AML solution that integrates seamlessly with its existing technology.

What does Lucinity do? Lucinity is a player in AI software for financial crime compliance. Lucinity's platform, renowned for its user-friendliness, employs advanced AI to provide fast, clear insights, enhancing efficiency, and decision-making. Trusted by top-tier banks and fintechs, Lucinity aids in ensuring compliance, operational excellence, and risk reduction.

.