Turning AML Investigators into superheroes

Evolution brings us forward. We have come a long way from utilizing stones as rudimentary tools to reading this blog on the computer, tablet, or phone. At some point in our human history, we decided to create our progress, as evidenced in the Neolithic revolution and the Industrial revolutions. Now we are at it again, but this time the intelligence sparking revolution is artificial.

Evolution and revolution happen to better the status quo. Humans use tools to improve their capabilities to fulfil a task thought impossible, quicker, and more accurately. At Lucinity, the advancements of the past are leveraged and evolved into the future. The Lucinity platform offers process improvements to anti-money laundering (AML) procedures that are unparalleled and empower our users to unlock their full potential so that they can effectively fight financial crime.

Make decisions instead of making sense of data

In AML, compliance professionals spend on average 80% of their time finding and combining the data needed to conduct a meaningful investigation into whether a suspicious activity warrants reporting to regulators. In essence, a lot of effort goes into collecting all the necessary information. The Lucinity case manager alleviates this problem through a rich interface that contextually provides all the data needed to efficiently and effectively arrive at a decision.

The design takes inspiration from social media principles and offers intuitive workflows and actions within a user-friendly setting. The cases aim to provide naturally understood overviews and insights into the investigated actor and their suspicious behaviors. The UI intuitively presents the data points, even when highly sophisticated, to facilitate confident decision-making by case investigators. User-friendly representation of data has played a critical role in ensuring that our customers are up to 12 times as efficient when processing AML cases compared to previous vendors.

AI for humans, not against them

Lucinity lives the concept of Human AI, which centers around augmenting humans’ abilities with AI. Embedded in the Lucinity platform is Lux, the Human AI advisor, which supports investigators and continuously improves. Lux automates tedious and repetitive tasks and finds optimized workflows for investigators while enriching the case manager’s information through intelligent algorithms.

We at Lucinity believe that the future of AI is to work hand in hand with technology. Let’s allow humans to do what we are uniquely good at, contextualizing, interpreting, and creatively combining information while AIs crunch the numbers and analyze big data patterns. Lux allows investigators to focus on crucial decisions and enables them to act with confidence and precision. By capturing data from investigators and sharing it with AI models, we are building technology that learns through every interaction in the system to empower compliance professionals.

Approximately 2.5 quintillion bytes of data are produced by humans every day. No human can navigate this jungle of big data. Still, with the help of machines and intelligent tools such as the Lucinity platform, we can become champions of it, truly understanding its meaning and leveraging it for making the right decisions quickly.

Justin Bercich

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