Arion joins a group of global banks and financial technology companies using Lucinity's anti-money laundering (AML) software solution
REYKJAVIK, Iceland, Nov. 16, 2022 /PRNewswire/ -- Arion Bank has announced that it will deploy Lucinity's technology to help strengthen its anti-money laundering defenses and contribute to a more secure financial system. Lucinity's software solution uses the latest artificial intelligence technology to detect money laundering and makes it easier for financial companies to detect and resolve money laundering more efficiently.
Arion Bank opened operations in 2008 and currently serves more than a quarter of the Icelandic population. Arion Bank prides itself on offering excellent customer service by leveraging modern digital solutions to support critical processes. The natural next step was to upgrade their technology to improve compliance with anti-money laundering regulations.
Guðmundur Kristjánsson, founder of Lucinity, said: "We are very happy to add Arion to our list of satisfied Lucinity customers. The Icelandic market holds a high place in our hearts and we feel it our duty to serve them well. Together with the Icelandic financial companies, we want to prevent money laundering and make Iceland one of the safest financial systems in the world.The partnership with Arion is a big step in this direction, and the bank's ambition to be at the forefront of innovation is contagious."
Benedikt Gíslason, Bank Manager at Arion Bank, said, "Our goal is to be at the forefront of the fight against financial crime. We are very pleased to embark on this journey with Lucinity, a leading company in this field."
Andrés Fjeldsted, Director of Compliance at Arion Bank, added: "Lucinity uses a new approach and modern design in the fight against money laundering that is gaining traction in the international financial markets. This ambition fits well with the forward-looking approach of Arion Bank in digital solutions, and the bank wants to do everything possible to eradicate financial crime."
About Lucinity: https://www.lucinity.com
About Arion Bank: https://www.arionbanki.is/english
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