REYKJAVÍK, Iceland, May 28, 2024 /PRNewswire/ -- Lucinity, a leading AI company for financial crime prevention, won two awards at the Microsoft Partner Awards for 2024, including Partner of the Year - Iceland and Sustainability and Social Impact, highlighting Lucinity's innovations and contribution to positive societal change.
"Congratulations to Lucinity for being recognized as the Partner of the Year - Iceland 2024! Lucinity is leading digital transformation and delivering innovative products in their domain," says Microsoft's leadership.
"For the past year, they have played a key role with their offerings, skilled resources, and their ability to drive change and innovative solutions both locally in Iceland and across the globe. Lucinity has had significant social impact and growth while supporting our joint customers in their AI-transformation journeys."
In June 2023, Lucinity launched the world's first copilot for FinCrime prevention powered by Microsoft Azure OpenAI called Luci. Luci stands out in the financial services industry with specialized skills for FinCrime prevention such as adverse media checks, case analysis, and SAR writing.
Built on the robust and scalable Microsoft Azure platform, Lucinity offers customers a trusted SaaS product. Additionally, Lucinity's presence on the Microsoft Azure Marketplace allows companies to leverage their Microsoft Azure credits to access the platform.
The seamless integration with Microsoft's Azure stack has enabled Lucinity to implement advanced AI capabilities, fostering rapid innovation and enabling banks and fintech companies to utilize AI securely and audibly. Furthermore, Luci significantly reduces investigation times from 2.5 hours to just 25 minutes, saving Tier 1 banks an estimated $25 million annually.
Guðmundur Kristjánsson (GK), Lucinity's Founder and CEO comments, "These awards are a testament to the strength and reliability of our solutions, made possible by our strategic partnership with Microsoft. Utilizing Microsoft Azure, we have been able to drive rapid innovation and create a robust, scalable platform that meets the rigorous requirements of compliance teams."
On the Sustainability and Social Impact Partner Award, Microsoft says, "Lucinity, with their innovative AI solutions, has really tried to combat this huge global challenge. They use 'Human AI' to enhance financial crime prevention, combining AI with human expertise for efficient, user-friendly solutions. Additionally, Lucinity has developed a tool called Luci, an AI-powered copilot that helps transform financial crime prevention from a process that took hours to one that takes minutes."
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