Iceland-based Lucinity has teamed up with Dutch AI data management company Knights Analytics to enhance its financial crime compliance platform using advanced AI data management capabilities.
The collaboration aims to consolidate customer data, improve data quality, and enable advanced generative AI (GenAI) analysis within Lucinity’s solutions.
Knights Analytics focuses on combining graph analytics and AI for connecting data that helps businesses extract valuable insights from large and siloed datasets.
The collaboration will integrate Knights Analytics’ expertise to help Lucinity’s customers consolidate, standardise, and reconcile their data within Lucinity’s Case Management system.
Lucinity CEO Guðmundur Kristjánsson said: “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 automation and insights to streamline case investigations.”
The partnership is said to create new opportunities for GenAI capabilities and automation, including on-the-fly entity resolution, network analysis, and automated data extraction.
It allows users to interact with their data through Lucinity’s GenAI copilot, Luci, which provides actionable insights in an intuitive format.
Lucinity said that all the recommendations offered by its GenAI copilot are fully explainable, with human vs. AI actions recorded in an audit log.
Furthermore, the partnership supports the fight against financial crime using advanced AI to improve data and analysis, said the Iceland-based SaaS AI company.
Knights Analytics CEO Alex Ridden said: “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 utilise effectively.”
