REYKJAVIK, Iceland,
July 29, 2024 /PRNewswire/
-- Lucinity has announced a strategic partnership with Knights
Analytics to enhance its financial crime compliance platform with
advanced AI data management capabilities. This collaboration will
unify customer data, improve data quality, and enable advanced
Generative AI analysis within Lucinity's solutions.
Knights Analytics specializes in combining graph analytics and
AI for connecting data, helping businesses extract valuable
insights from large and siloed datasets. By integrating Knights
Analytics' expertise, Lucinity's customers can now consolidate,
standardize, and reconcile their data within Lucinity's unified
Case Management system. This is especially important as financial
institutions report that poor data quality is a significant barrier
to effective financial crime prevention.
The partnership will also create new opportunities for
Generative AI capabilities and automations, including on the fly
entity resolution, network analysis, and automated data extraction
from documents. Users can interact with their data through
Lucinity's GenAI copilot, Luci, which provides actionable insights
in an intuitive format. All of the recommendations provided by Luci
are fully explainable, with human vs. AI actions recorded in an
audit log.
Commenting on the partnership, Guðmundur Kristjánsson (GK), CEO
of Lucinity, said, "Partnering with Knights Analytics will take the
Luci AI copilot to the next level by enhancing data accuracy,
reducing manual analysis, and increasing the reliability of
financial crime investigations through advanced data linkage and
profile analysis. This integration will unlock new use cases like
on-demand entity resolution, enabling AI-driven automations and
insights to streamline case investigations."
Alex Ridden, CEO of Knights Analytics, added, "We are thrilled
to simplify the ability to integrate more data within Lucinity's
platform. Combining our data matching and entity resolution
solutions with Lucinity ensures financial institutions make the
most of their data. Financial institutions these days are sitting
on a wealth of information that they don't utilize
effectively."
This partnership marks a significant step in fighting financial
crime, using advanced AI to improve data and analysis, ultimately
boosting productivity and efficiency in financial crime
compliance.
Media contact:
Celina Pablo
celina@lucinity.com
+354 792 4321
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