Financial Services

The Radiance platform helps banks and others in the financial services sector maintain workforce and workplace safety and ensure business compliance. Its deep web searches help verify and authenticate customer information and prevent financial crimes. Make customer due diligence more streamlined and substantive with machine learning and AI.

The Radiance platform is purpose-built for government agencies with responsibilities as diverse as keeping citizens’ safe, protecting our communities or providing the best care and treatment for our most vulnerable populations. Its timely, actionable intelligence helps manage and mitigate risk, prevent catastrophic events and solve the most critical public policy issues. Take decision making to the next level with machine learning and AI.

Know Your Customer

Global regulators fined financial institutions $26 billion for anti-money laundering (AML) and know your customer (KYC) violations between 2008 and 2018. Institutions in the U.S. account for 44% of those fines, and 91% of the total value ($23.52 billion).

Costs related to AML/KYC compliance are equally illuminating, with approximately $25 billion spent annually by financial services firms. While that number is staggering on its own, data indicate that the smallest institutions are the hardest hit. Firms with $10 billion in total assets paid a total of $12.3 billion in AML costs and those with more than $10 billion in assets spent $13 billion.

Know Your Customer

Global regulators fined financial institutions $26 billion for anti-money laundering (AML) and know your customer (KYC) violations between 2008 and 2018. Institutions in the U.S. account for 44% of those fines, and 91% of the total value ($23.52 billion).

Costs related to AML/KYC compliance are equally illuminating, with approximately $25 billion spent annually by financial services firms. While that number is staggering on its own, data indicate that the smallest institutions are the hardest hit. Firms with $10 billion in total assets paid a total of $12.3 billion in AML costs and those with more than $10 billion in assets spent $13 billion.

Critical Infrastructure

Last year, the Department of Homeland Security created the National Risk Management Center, with the goal of protecting critical infrastructure – 80% of which is owned by the private sector. The move was a recognition that nearly two decades after 9/11 the risks to our vital assets are greater and more diverse than ever. In North America alone, the critical infrastructure protection (CIP) market was worth $30 billion in 2018 and is anticipated to be worth $39 billion in ten years. As the public sector works with the private companies to prepare strategies and countermeasures to address risk, the question remains: How to plan for the unknown?

Critical Infrastructure

Last year, the Department of Homeland Security created the National Risk Management Center, with the goal of protecting critical infrastructure – 80% of which is owned by the private sector. The move was a recognition that nearly two decades after 9/11 the risks to our vital assets are greater and more diverse than ever. In North America alone, the critical infrastructure protection (CIP) market was worth $30 billion in 2018 and is anticipated to be worth $39 billion in ten years. As the public sector works with the private companies to prepare strategies and countermeasures to address risk, the question remains: How to plan for the unknown?

Employment and Hiring

U.S. employers paid more than $600 billion in turnover costs in 2018, with one in four employees leaving their jobs last year: both numbers are indicative of increasing turnover in the workforce. As employers look at ways to reduce turnover by hiring the right people in the first place, social media has become an increasingly important tool to help screen potential candidates. More than 70% of employers now research social media sites during the screening process, and 57% have found content that has caused them not to hire a candidate.

Employment and Hiring

U.S. employers paid more than $600 billion in turnover costs in 2018, with one in four employees leaving their jobs last year: both numbers are indicative of increasing turnover in the workforce. As employers look at ways to reduce turnover by hiring the right people in the first place, social media has become an increasingly important tool to help screen potential candidates. More than 70% of employers now research social media sites during the screening process, and 57% have found content that has caused them not to hire a candidate.

Learn how we can help protect your organization.

Learn how we can help protect your organization.

Lumina was founded on the idea that technology is a force for good. We optimized our artificial intelligence capabilities to help keep people and places safe and secure. Protecting what matters most is more than what we do. It’s who we are.

© 2019 Lumina Analytics