Currencycloud and Lucinity team up on anti-money laundering

With rapidly increasing activity in the commercial payments space, the potential for money laundering increases and poses a risk for businesses as well as companies operating in the payments space.

This week, UK based B2B payments company Currencycloud has partnered with Lucinity to provide its Actor Intelligence solution as its latest compliance innovation helping to identify issues around money laundering.

The Actor Intelligence solution allows compliance professionals to monitor customer behaviour and allows them to understand the risk parameters of different customers.

It notes that continuous risk scoring will significantly increase productivity and coverage in fighting financial crime.

Last month, Visa announced the acquisition of Currencycloud.

Lucinity in the press notes has mentioned that it has built its technology around the vision of Human AI which uses ‘the best from human and artificial intelligence’.

Currencycloud’s Chief Compliance Officer, Tanya Ziv, noted that Lucinity will support the company compliance and the compliance world ‘has moved on from thinking customer intelligence is the initial information gathered from a customer’.