Lucinity, an AI software company focusing on financial crime operations, has entered into a strategic partnership with Knights Analytics, a leader in AI-driven data solutions.
This collaboration aims to elevate financial crime compliance by enhancing data quality and integrating advanced Generative AI analysis into Lucinity’s platforms.
The partnership seeks to unify customer data across platforms, improve overall data quality, and enable advanced Generative AI functionalities within Lucinity’s financial crime compliance solutions. This initiative is vital as financial institutions increasingly recognise the challenge of poor data quality as a barrier to effectively combating financial crimes.
Lucinity is renowned for its no-code, AI-driven platform that enhances the intelligence, analysis, and decision-making processes within compliance teams. On the other hand, Knights Analytics specialises in graph analytics and AI, focusing on connecting and extracting value from large, disjointed data sets.
By leveraging Knights Analytics’ expertise, Lucinity will be able to consolidate, standardize, and reconcile its data within a unified Case Management system. This integration facilitates new Generative AI capabilities such as on-the-fly entity resolution, network analysis, and automated data extraction from documents, all accessible via Lucinity’s GenAI copilot, Luci.
Lucinity CEO Guðmundur Kristjánsson stated, “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.”
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