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A New High-Tech Future for Anti-Money Laundering Compliance Software in the USA

This press release was orginally distributed by SBWire

Reykjavik, Iceland -- (SBWIRE) -- 12/21/2022 -- It has been more than half a century since the first legislation was put in place to try to combat financial crime. Since the Bank Secrecy Act was enacted so much has changed in the financial world and it's no secret that the advance of technology in particular has made it difficult for institutions to keep up. Today, it's estimated that the volume of elicit money that is captured and stopped every year is just 1%, despite the large financial investments made by businesses across the financial services sector in trying to prevent this. However, a new era is dawning for combating financial crime, as AML Compliance Software and a swathe of new digital regulatory technology (regtech) firms are starting to change the landscape. It's possible that they may tip the balance in favor of more effective financial regulation.

Money laundering and financial crime represent what might be the best use case for the regtech industry, mainly because the current approach isn't getting results. A new high-tech future based on AML Compliance Software could be a game changer. Many of the enterprises within the regtech industry are start-ups pushing innovative solutions to old problems, such as more extensive know your customer checks and a more effective approach to filing Suspicious Activity Reports. Sophisticated digital transaction monitoring is another element in AML Compliance Software and a vital tool in improving the odds of minimizing the reach of financial crime.

It's this hugely challenging environment that has driven the team at Lucinity to roll out its AML Compliance Software to more organizations on a global level, to make it easier for any business to implement protection. It's simply not acceptable for just 1% of illicit funds to be stopped globally and AML Compliance Software can make a big difference to this figure. The Lucinity platform has been configured to be intentionally easy to use so that money laundering protection becomes an asset to the business, as opposed to yet another system to figure out. Lucinity's AML Compliance software features key elements, such as transaction monitoring and comprehensive actor intelligence, as well as the Lucinity SAR Manager. It gives enterprises the option, not just to minimize vulnerability to financial crime, but also to improve internal operations, such as increasing productivity and reducing alert fatigue in compliance risk processes.

The Lucinity platform is advanced AML Compliance Software that remains simple and easy to use. It brings together the best attributes of both human and artificial intelligence to create a truly powerful system. Since the firm was established in 2018 its reach has grown globally as more and more businesses see the benefits of this high tech but simple approach. Today, the firm has offices in Reykjavik, London, New York and Brussels and continues to expand. The mission at Lucinity has always been to Make Money Good and effective AML Compliance Software is a vital part of that.

About Lucinity
Lucinity is an anti-money laundering (AML) software developer on a mission to Make Money Good. Lucinity aims to solve productivity and efficiency issues for financial institutions through the company's 'Human AI' approach, a toolset that combines next-generation AI with human insights and expertise.

By leveraging AI, the AML software learns from every interaction and continues to improve indefinitely, providing fewer false positives and saving time. This is on top of its best-in-class interface and visualizations that put users first. Professionals can experience Lucinity's AML compliance solution, including transaction monitoring, through a free demo environment available on

Lucinity operates globally, with headquarters in Reykjavik, and serves customers ranging from Tier-1 banks to FinTechs.

Company Quote

Founder and CEO, Gudjmundur Kristjansson, comments, "Lucinity's unique experience in banking, compliance, regulation, and data science has helped us develop a new approach to tackling money laundering—harnessing the best of human intelligence and augmenting it with advanced AI.
Our simple-to-use systems work with analysts, not against them, complementing their skills and making them superheroes so they can take on financial crime, saving institutions time and money in the process.

We believe that by transforming AML, we can have a tremendous positive impact on society. Money laundering is a crime that fuels crime. That is why we set out on the mission of Making Money Good."

To find out more information AML Compliance Software visit

Lucinity are regular attendees at Anti-Money Laundering and Fin Tech Conventions around the world. To find out about upcoming Lucinity events visit

For any media enquiries please contact Gary Elliott at Iconic Digital – 020 7100 0726.

For all other enquiries please contact Lucinity at

For more information about Lucinity services, please go to

- Lucinity is an AML software company, founded in 2018, with offices in Reykjavik, New York, London and Brussels. Using advanced AI systems, we help banks discover money laundering and really know their customers, more efficiently – to stop the funding of serious crime across the world.

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Media Relations Contact

Steve Pailthorpe
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