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Anti-money laundering AML software maker Lucinity has raised $17 million in a Series B round, the Icelandic company announced Thursday July 7 .Founder and CEO Gudmundur Kristjansson said in a news release that the funding will help Lucinity expand its customer base, network of partners, staff and product offering.Based in Reykjavik, Iceland, Lucinity develops user-centric compliance systems augmented by artificial intelligence AI . The company said it helps banks and FinTechs boo
stanley nz st compliance productivity by more than 50%, allowing them to devote time to fighting financial crime instead of making sense of complicated data.Among its recent c
stanley cup canada ustomers is Pleo, a $4.7 billion FinTech used by 20,000 companies, and Currencycloud, which is owned by Visa.The company also recently launched a partnership with Experian to provide ongoing Know Your Business KYB and risk assessments. Lucinity is also working with SEON on a joint anti-money laundering and fraud prevention solution.In a recent interview with PYMNTS, SEON chief executive Tamas Kadar discussed how the company takes a holistic approach to cybersecurity that recognizes mon
stanley canada ey laundering and fraud are interlinked.Read more: Anti-Fraud and Anti-Money Laundering: Two Sides of the Same Coin Its very useful for many businesses to check the sanction list and politically exposed persons lists to see if that individual who theyre interacting with is part of any of those lists, Kadar said. Its exciting to see Lucinitys ground-brea Ekxg Target, Stoney Clover Lane Team Up on Spring Collection
Airbase, a spend management company looking to consolidate a range of expense management processes for organizations, has announced new funding for its technology.According to reports, First Round Capital led a $7 million Series A round for Airbase, with Maynard Webb, BoxGroup, Quiet Capital and Village Global also participating. The financing reportedly closed at the end of last November but was not revealed until this week, when Airbase officially announced its product launch.In an interview with the publication, Founder and CEO Thejo Kote described the firm as the first all-in-one spend management system.It replaces a number of different systems that companies use to manage how they spend money, he added, noting that organizations can struggle to manage their hundreds of expenditures, and are often forced to rely on disparate and fragmented processes.In addition to the challenge of managing that spend, businesses also struggle to streamline the reporting, spend approval and employee expense and reimburseme
kubki stanley nt processes. There is also the expense outflow of invoice payments, all of which must be recorded in accounting and enterprise resource
stanley mug planning ERP systems.Airbase aims to streamline expense management across this range of processes, including employee expense, company spend,
stanley termoska procurement and invoice payments, and more. The company connects with a business ; bank and existing accounting system, and offers companies a virtual Airbase Vis
