PLEO SELECTS LUCINITY TO PROVIDE AML CENTER POWERED BY TRUSTED ARTIFICIAL INTELLIGENCE AS IT CONTINUES EXPANSION

REYKJAVIKIceland and COPENHAGEN, Denmark, June 17, 2022 /PRNewswire/ — Pleo, the $4.7 billion Danish FinTech with 800,000 customers, has chosen Lucinity to be its compliance risk center after a rigorous selection process.

(PRNewsfoto/Lucinity)

Founded in 2015, Pleo delivers smart spend solutions to forward-thinking businesses through a simplified approach to spend management. Pleo has acquired new customers exponentially, serving various industries and businesses around the world. These customers were looking for a reliable solution that would provide a dynamic, modern approach to transaction monitoring that could be deployed at scale quickly, without impacting the security and integrity of their AML monitoring processes. money (AML).

Lucinity’s anti-money laundering solution leverages artificial intelligence (AI) to support human insights and increase the efficiency and productivity of compliance professionals. Its highly scalable products combined with its user-friendly application program interface (API) were the ideal solution to support Pleo’s rapid expansion.

Pleo will use Lucinity’s comprehensive AML compliance software, including transaction monitoring, case management, actor intelligence and suspicious activity reporting management solution. Because Pleo and Lucinity’s products are simple and stable, Lucinity will enable Pleo’s compliance team to gain actionable insights through visually appealing and reliable technology.

Thanks to its open design, Lucinity’s anti-money laundering software will also be able to integrate with Denmark’s Financial Intelligence Unit (FIU) and allow Pleo to more efficiently manage tax returns, which will reduce the review and grading process from four hours to minutes with intuitive previews, streamlined editing, and direct grading.

Charlotte Lowry, Money Laundering Reporting Officer and Chief Compliance Officer, Pleo, commented: “Lucinity’s AI-powered anti-money laundering software leads to a smarter and more actionable approach to anti-money laundering (AML) oversight, which we have been looking for as we move forward with a solid foundation of AML compliance risk. The company’s collaborative approach, paired with a superior interface, has been a huge driver of collaboration, and we look forward to working closely with Lucinity as we continue to grow. »

“We believe that by transforming AML compliance and applying a smarter approach, we can have a significant positive impact on society,” added Guðmundur Kristjánsson, Founder and CEO of Lucinity. “Pleo shares our vision of progressive and intelligent solutions for forward-thinking customers, and we are delighted to work with them. »

About Pleo: https://www.pleo.io/en/press
About Lucinity: https://lucinity.com

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PLEO SELECTS LUCINITY TO PROVIDE AML CENTER POWERED BY TRUSTED ARTIFICIAL INTELLIGENCE AS IT CONTINUES EXPANSION


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