REYKJAVIK, Iceland, June 18,
2024 /PRNewswire/ -- Lucinity has been
featured in the AIFinTech100 list for 2024, marking its
recognition as one of the top AI companies in the financial
services industry. The AIFinTech100 list, curated by industry
experts, highlights the most innovative fintech companies globally.
Lucinity was selected from over 2,000 fintech firms for its
problem-solving, market potential, innovation, and customer
engagement. Earlier this year, Lucinity was also highlighted as a
RegTech100 company.
This recognition comes amid rapid AI adoption in fintech.
According to Fintech Global, research predicts the AI market in
fintech will grow from $42.83 billion
to $44.08 billion by 2024, reaching
$50.87 billion by 2029. Banks alone
are expected to spend $4.9 billion on
AI platforms by 2024, with a 21.8% annual growth rate since
2019.
Lucinity's inclusion in the AIFinTech100 list reflects its
success in developing AI solutions that enhance efficiencies and
cost savings for financial crime operations teams. Notably, Luci,
the world's first Generative AI copilot for financial crime
investigations, launched in 2023, leverages Microsoft OpenAI
technologies to augment human analysts' capabilities, reducing
investigation times from 3 hours to just 30 minutes.
Lucinity also recently launched Luci as a copilot plugin at
Money20/20. Financial institutions are now able to integrate Luci
with any web-based enterprise application including CRM systems,
Case Manager systems, and Excel, delivering immediate ROI with zero
upfront integration.
Security remains a significant challenge in AI adoption.
Lucinity addresses this by partnering with Microsoft Azure develop
a secure infrastructure. With a strong emphasis on compliance, Luci
offers comprehensive auditability through its detailed Audit Log
functionality.
Guðmundur Kristjánsson (GK), CEO of Lucinity, comments, "Being
named in the AIFinTech100 showcases our impact amongst banks and
fintech through advanced AI. It underscores our platform's ability
to empower compliance teams, deliver ROI, and reduce operational
costs."
Richard Sachar, Director of
FinTech Global, added, "AI is revolutionizing financial services,
increasing efficiencies and offering personalized products. This
year's AIFinTech100 list includes top innovators transforming the
industry with AI applications."
Lucinity's inclusion in the AIFinTech100 list for 2024 follows
several achievements, including winning the Microsoft Partner of
the Year Awards for Sustainability and Social Impact and
Partner of the Year - Iceland.
Lucinity was also included in Chartis Research's FinCrime and
Compliance 50 Ranking for 2024 and was recognized as the best tool
for Workflow Automation.
Name: Celina Pablo
Email: celina@lucinity.com
Phone +354 792 4321
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