Lucinity, an emerging firm in FinTech, has launched its latest product, a generative AI copilot plugin, at Money2020 Europe.
Known for its innovative solutions, Lucinity is on the forefront of transforming financial operations through advanced AI technologies.
The new plugin is designed to meet a critical need within financial institutions—enhancing efficiency and accuracy without the typical constraints associated with new technology implementations. It acts as a bridge, allowing companies to leverage their existing systems while integrating cutting-edge AI functionalities.
Lucinity specialises in developing artificial intelligence solutions tailored for the financial sector. Their products are focused on improving operational efficiency and compliance within financial institutions.
The generative AI copilot plugin, named Luci, is an upgrade to Lucinity’s existing AI technology. Luci seamlessly integrates with all web-based enterprise applications, aggregating and analysing data from various sources including CRM systems, case management systems, and even Excel documents. This centralisation of data and insight helps financial institutions to make quicker, more informed decisions.
Besides enhancing the existing AI copilot, Lucinity has introduced the Copilot Skills Studio. This new feature allows users to automate entire workflows using generative AI, significantly reducing the time required for processes that traditionally take several hours.
Additional benefits of Luci include its ability to integrate with publicly available data instantly, while also providing the flexibility to add privately-held data sources later. Luci ensures full auditability and explainability, crucial for maintaining compliance in the financial sector.
Lucinity’s clients are already experiencing the benefits of Luci. Hannah Becher, fraud and AML surveillance lead at Pleo, noted, “Luci is streamlining Pleo’s proof of business checks, significantly enhancing the efficiency and accuracy of verifying new customers. With Luci, these checks are completed in minutes.”
Gudmundur Kristjansson, founder and CEO of Lucinity, commented on the adoption of their products: “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.”
The plugin also leverages Microsoft Azure Open AI for secure infrastructure and is developed within the compliance sector to ensure maximum auditability, detailed by its Audit Log functionality.
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