Hummingbird acquires LogicLoop

Challenges of investigating financial crime

Financial institutions worldwide continue to face the primary challenge of data fragmentation. Risk and compliance teams often struggle to effectively access and use their data for risk management and financial crime investigations, leading to inefficiencies and gaps. Hummingbird, powered by LogicLoop technology, is poised to directly tackle this issue.

Hummingbird officials envision a future where financial institutions can easily connect to any data source, swiftly retrieve information through queries or AI, and direct it through automated processes for investigations, streamlining compliance efforts. The integrated offering provides:

• No-Code Integrations: this solution allows for simplified connections between internal and external data sources through no-code integrations, minimising the need for technical resources. Data entered into Hummingbird can be used for automation and ad-hoc analysis.

• Algorithmic Power: with Hummingbird's acquisition of LogicLoop, customers gain upgraded capabilities to build, test, and deploy algorithms that drive risk and compliance initiatives—instantly and without requiring technical skills. This ensures that customers have immediate access to essential data, enabling them to monitor emerging trends and evolving financial crime typologies effectively.

• Unified Operating System: this integrated solution represents a significant advancement in consolidating risk and compliance tasks into a single operating system. Hummingbird is helping its capacity to unify data, automation, and investigations, allowing for thorough analyses of customer profiles and activities through data aggregation and visualisation tools. Furthermore, information and decisions can be directed to any system facilitating financial crime operations, consolidating the entire investigative process under one platform.

The suite of customer benefits includes evaluating risk, simplifying data exploration to identify trends, and enhancing data for better insights and decision-making. LogicLoop improves the Hummingbird platform by allowing risk and compliance teams to automate data processes without needing engineering resources, streamlining operations and ensuring institutional safety.