At Money2020 Europe, Lucinity has launched a revolutionary generative AI copilot plugin, promising immediate ROI for financial institutions. This cutting-edge plugin is system-agnostic, seamlessly integrating with all web-based enterprise applications and drawing data from CRM systems, case management systems, third-party vendors, and Excel documents.
Elevating Financial Crime Prevention with Luci
Building on the success of their AI copilot, ‘Luci,’ launched last year as the world’s first AI copilot for financial crime prevention, Lucinity’s new plugin makes Luci the easiest copilot to integrate into any financial institution. This enhancement can boost productivity by up to 90%, leading to substantial cost savings.
Seamless Integration and Workflow Automation
Financial institutions can now adopt Generative AI without the traditional constraints, costs, and lengthy timelines of typical implementations. Businesses can keep their current licenses and contracts while enhancing insights and speeding up decision-making processes. Additionally, Lucinity has introduced the Copilot Skills Studio, an innovative workflow automation studio that allows users to automate end-to-end workflows with integrated generative AI skills. What once took hours can now be completed in mere minutes.
Real-World Impact
Lucinity’s customers are already experiencing significant benefits. Hannah Becher, Fraud and AML Surveillance Lead at Pleo, shares, “Luci is streamlining Pleo’s proof of business (POB) checks, significantly enhancing efficiency and accuracy. With Luci, these checks are completed in minutes, providing well-documented recommendations with full auditability and explainability.”
A Vision for the Future
Gudmundur Kristjansson, Founder and CEO of Lucinity, states, “One of the most common things we hear from FIs is that they love our products but struggle with old systems they can’t abandon. With our new copilot plugin, that’s no longer a problem.”
Instant Implementation and Robust Security
Luci can be instantly implemented when accessing publicly available data, with privately-held data sources added later. It can be deployed within the complete Lucinity platform, working with powerful modules like Case Manager and Customer 360°. The platform’s system-agnostic nature ensures compatibility with any Transaction Monitoring, Fraud, or KYC systems that financial institutions currently use or wish to integrate with.
In terms of security, Lucinity employs state-of-the-art models like Microsoft Azure Open AI for secure infrastructure. Developed specifically for the compliance sector, Luci ensures maximum auditability with detailed Audit Log functionality.
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