It has been reported that Arion Bank will deploy Lucinity technology to bolster its anti-money-laundering measures and help make the financial system more secure.

Money laundering can be difficult to identify, but Lucinity’s software solution leverages cutting-edge AI technology to help financial institutions do so.

Since its founding in 2008, Arion Bank has grown to serve more than a quarter of Iceland’s population. Arion Bank takes great pleasure in its client service, which it delivers by utilising cutting-edge technological solutions to back up essential procedures. They knew they needed to do something about their lack of AML compliance, so they upgraded their systems.

Lucinity’s founder, Gumundur Kristjánsson, is overjoyed to have Arion among his company’s satisfied clients. We place a high value on the Icelandic market and see it as our moral obligation to provide excellent service there. We hope that by working with Iceland’s financial institutions, we can make the country’s financial system one of the safest in the world, free of the damaging effects of money laundering. The bank’s partnership with Arion is a significant step in the right direction, and the company’s drive to innovate sets an inspiring example.

Source: Prnewswire