Information Technology
Lucinity and Facctum Partner for AI-Powered, Real-Time Watchlist Screening and Investigations
Lucinity , a leader in AI-driven financial crime investigation tools, and
Facctum , a provider of watchlist screening technology, have announced a
strategic partnership . This collaboration offers a seamless, end-to-end financial crime prevention solution by integrating Facctum's real-time screening capabilities into Lucinity's platform.
By combining their strengths, Lucinity and Facctum will handle alerts across watchlist screening use cases including sanctions and PEP screening. Facctum's flexible solution allows customers to configure their own watchlists or utilize third-party sources such as LSEG (WorldCheck), Dow Jones, Kharon, and many others, providing institutions with the agility needed to adapt to evolving compliance challenges.
Key Benefits for Customers:
Facctum's advanced matching engines drastically reduce false positives, improving the efficiency of compliance processes. Additionally, the platform helps financial institutions stay ahead of regulatory changes, such as the SEPA Instant Payment Regulation, which requires screening as soon as possible after new EU sanctions are announced.
Lucinity's platform also reduces investigation times from three hours to just 30 minutes, delivering productivity gains that can save large banks up to $25 million annually. The combined solution offers immense productivity gains, cost savings, and faster compliance with rigorous regulatory requirements.
“At Lucinity, we've always aimed to provide comprehensive solutions that simplify financial crime management for our customers,” said Udi, President and Chief Revenue Officer at Lucinity. “Our partnership with Facctum enables us to offer real-time screening alerts alongside fraud and AML monitoring and investigations, all within one platform. This allows institutions to remain compliant with rapidly changing regulations while efficiently managing investigations.”
“Our partnership with Lucinity meets the growing demand for fast, accurate sanctions screening,” said KK Gupta, CEO of Facctum. “By integrating our solutions, we help financial institutions stay compliant and reduce the risk of costly penalties from regulators.”
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