Lucinity Secures Multi-Year Deal Through Microsoft's Azure Marketplace, Expands Global Reach Across Europe and North America

Lucinity, a leading provider of AI-driven FinCrime operating systems, has secured a new deal with a prominent global financial services company through its collaboration with Microsoft.
Washington D.C., United States - December 16th, 2024 - Banks and other financial services businesses face a continued challenge in the shape of increasing costs surrounding the management of anti-financial crime and other regulatory obligations, over and above the increasingly significant fines being levied for noncompliance.

A substantial portion of these costs are headcount-related, with businesses often needing to hire aggressively to deal with increased alert/case volume generated by more tightly controlled detection systems (transaction monitoring, sanctions screening, fraud detection, etc.).

Organizations are looking for a way to improve AML effectiveness and efficiencies through quick time-to-market deployments that don't require rip and replace investments, achieving business value with minimal costs within months.

Lucinity and Microsoft are deeply focussed on preventing financial crime [https://lucinity.com/blog/lucinity-secures-multi-year-deal-through-microsofts-azure-marketplace-expands-global-reach-across-europe-and-north-america], bringing our industry, technical, AI and GenAI expertise together to enable financial services clients to minimize time to value in adopting GenAI, safe in the knowledge that it's underpinned by Microsoft's world-leading information security.

Lucinity, a leading provider of AI-driven FinCrime operating systems, has secured a new deal with a prominent global financial services company through its collaboration with Microsoft. The financial services provider, known for facilitating cross-border payments for millions of businesses worldwide, has used the Microsoft Azure Marketplace [https://azuremarketplace.microsoft.com/en-us/marketplace/apps/lucinity1687265212421.lucinity_eu?tab=overview&ref=lucinity.ghost.io] to purchase Lucinity's innovative anti-financial crime solutions. One of the many benefits of this approach is that they are able to use the associated cloud consumption against their existing Microsoft Azure Consumption Commitment (MACC) agreement.

Through Microsoft's Azure Marketplace, customers can seamlessly integrate Lucinity's advanced AML & anti-fincrime tooling via the Azure Marketplace, allowing them to make use of their existing cloud commitments and simplify their billing processes and unlock greater cost-efficiencies. This partnership enables Lucinity to scale its offerings across Europe and North America, reaching more customers while delivering efficient and cost-effective compliance solutions.

The partnership between Lucinity and Microsoft has been instrumental in helping financial institutions adopt AI-powered AML tools with ease, ensuring frictionless deployment and procurement. As one of Lucinity's clients, the global financial services provider is now benefiting from this streamlined process, enhancing its financial crime compliance operations while maintaining a consolidated approach to its cloud spending.

A pivotal moment in the evolution of Lucinity's partnership with Microsoft was the introduction of Luci Copilot [https://lucinity.com/luci?ref=lucinity.ghost.io], a groundbreaking generative AI tool designed to automate and improve financial crime investigations. This innovation quickly caught the attention of Microsoft's senior leadership, leading to Lucinity's inclusion in the Microsoft Independent Software Vendor (ISV) program. With strong backing from Microsoft Denmark's leadership, Lucinity achieved full certification and transaction capability on the Azure Marketplace within just three months-an unprecedented timeline that highlights the strength of the collaboration.

Lucinity's flagship products, Luci Copilot and Case Manager [https://lucinity.com/case-management?ref=lucinity.ghost.io], are now available on the Azure Marketplace, providing financial institutions with advanced tools that enhance the accuracy and efficiency of their AML compliance operations. Luci Copilot uses AI to automate complex investigations, enabling compliance teams to focus on decision-making, while Case Manager offers a holistic and efficient platform for investigating suspicious activities, boosting productivity by reducing case investigation times from hours to minutes.

Ozcan Deveci, Senior Partner Development Manager at Microsoft Denmark, commented: "Lucinity's rapid integration into the Azure Marketplace demonstrates the power of combining innovative technology with the scalability of Microsoft's cloud infrastructure. Their AI-driven solutions are a key value add for our financial services clients who are looking for efficient and secure ways to enhance their compliance efforts."

Moreover, Microsoft's robust security features have enabled Lucinity to achieve crucial SOC2 and ISO certifications, assuring clients that our solutions adhere to the highest standards of data protection and regulatory compliance. This level of security is essential for organizations combating financial crime, providing them with confidence in the safety and reliability of Lucinity's AML solutions.

Udi Nessimyan, President and Chief Revenue Officer at Lucinity, said: "Our partnership with Microsoft enables us to deliver modern compliance tools that simplify operations, reduce costs, and scale to meet regulatory demands. As we expand across Europe and North America, this collaboration also positions us to bring our financial crime prevention solutions to industries like insurance and government, where combating fraud is critical."

About Lucinity

Lucinity is a SaaS company that blends artificial intelligence with human expertise to enhance financial crime prevention and compliance. Lucinity's products reduce manual workloads and improve decision-making for compliance professionals. With a strong commitment to security and scalability, Lucinity helps organizations meet their regulatory obligations while optimizing operational performance.

Learn more about Lucinity at http://www.lucinity.com
Media Contact
Company Name: Lucinity
Contact Person: Celina Pablo, Head of Marketing Operations
Email: Send Email [http://www.universalpressrelease.com/?pr=lucinity-secures-multiyear-deal-through-microsofts-azure-marketplace-expands-global-reach-across-europe-and-north-america]
Country: United States
Website: https://lucinity.com/



This release was published on openPR.