AMSTERDAM, June 6, 2024
/PRNewswire/ -- A groundbreaking generative AI copilot plugin,
launched by Lucinity at Money2020 Europe, delivers immediate ROI.
The copilot plugin is system-agnostic, acting as one central
copilot that can be used on top of all web-based enterprise
applications, pulling data from any system including Customer
Relationship Management (CRM) systems, case management systems,
third-party vendors, and Excel documents.
The new plugin enhances Lucinity's AI copilot, 'Luci,' launched
last year as the world's first AI copilot for financial crime
prevention. This new plugin functionality now means that Luci is
the easiest copilot to integrate into any financial institution
(FI), boosting productivity by up to 90% and resulting in
substantial cost savings.
It also means that businesses can keep the same licenses and
contracts they already have with their current providers, while
augmenting their insights and accelerating decision making. FIs can
now start using GenAI without the constraints, enormous costs, and
lengthy timelines of traditional implementations.
Lucinity has also released the Copilot Skills Studio, an
innovative workflow automation studio leveraging Generative
Intelligence Process Automation (GIPA). GIPA combines traditional
AI, generative AI, and Robotic Process Automation (RPA) all in one,
to automate end-to-end processes that typically involve repetitive
work, information gathering and analysis, or human-like decision
making abilities.
This includes automating end-to-end workflows to gain insights
on customers, such as running a negative news search, producing a
transaction summary from a screenshot of Excel, and obtaining a
money flow visualization from a customer's transactions. At the
end, all the insights can be directly added to a case or a
customer's profile. This process typically requires one to four
hours, but can now be performed in a matter of minutes. Through
this technology, FIs are now able to automate entire workflows that
they could initially only perform by executing various tasks across
multiple systems.
Lucinity's customers are already witnessing the power of Luci in
action. Hannah Becher,
Fraud and AML Surveillance Lead from Pleo, a fintech
company that provides businesses with spending solutions, says:
"Luci is streamlining Pleo's proof of business (POB) checks,
significantly enhancing the efficiency and accuracy of verifying
the legitimacy of new customers. With Luci, these checks are
completed in a matter of minutes.
"The process runs automatically or is manually initiated as part
of the review process. Luci not only evaluates the legitimacy of
businesses but also provides well-documented recommendations with
complete references to the data sources used, ensuring full
auditability and explainability of its assessments. The automated
POB check can be reviewed and edited by Pleo's analysts to ensure
correctness."
"This new innovation will blow your mind," says GK, Founder and
CEO of Lucinity. "One of the most common things we hear from
FIs is that they love our products, but they have an old system
they can't get rid of that they've just invested in. With our new
copilot plug-in, that's not a problem. I was blown away when using
Luci myself in our own CRM system and directly in Microsoft Outlook
to prepare for meetings. I never thought I would start to use our
own software without working directly in FinCrime prevention, but
Luci is just so powerful now that it is even assisting me in my
daily work."
When accessing publicly available data, Luci can be implemented
instantly - after which privately-held data sources can be
added. Luci can also still be deployed within the complete
Lucinity platform, working with powerful modules such as Case
Manager and Customer 360°. Lucinity's platform is also
system-agnostic, connecting with any Transaction Monitoring,
Fraud, or KYC systems that FIs currently use or would
like to integrate with.
In terms of security, Lucinity uses state-of-the-art models like
Microsoft Azure Open AI for secure infrastructure. Luci was
developed within the world of compliance, ensuring maximum
auditability with detailed Audit Log functionality.
Summary of groundbreaking innovations built into
the Luci copilot:
- Copilot plug-in allows generative AI copilot to work
with old and new systems and deliver results immediately
- GIPA platform incorporates advanced artificial
intelligence technologies to automate complex cognitive tasks
- Seamless Copilot Skills Studio to customize automated
tasks
Logo -
https://mma.prnewswire.com/media/2208676/4669079/Lucinity_Logo.jpg
View original content to download
multimedia:https://www.prnewswire.com/news-releases/new-ai-copilot-plugin-is-a-breakthrough-for-financial-institutions-transforming-existing-siloed-systems-in-seconds-302166572.html
SOURCE Lucinity