Hummingbird, a leader in financial crime risk management solutions, has acquired LogicLoop, a company known for its no-code data integration and automation technology. This acquisition is part of Hummingbird’s strategy to address the growing challenge of data fragmentation in financial institutions, especially within risk and compliance teams. The integration of LogicLoop’s innovative solutions will enable Hummingbird to offer a more unified platform for managing risk data and facilitating compliance workflows, ultimately empowering financial institutions to make better decisions and act on financial crime investigations more efficiently.
LogicLoop’s technology allows for no-code integrations that connect internal and external data sources, reducing the need for technical expertise. This allows risk teams to access and use data without relying on engineering resources, which streamlines operations and makes data more accessible for investigations. Additionally, LogicLoop’s solution supports automation and ad-hoc exploration of data, enhancing the overall capabilities of Hummingbird’s platform for financial crime fighters.
The combined offering expands Hummingbird’s ability to build, test, and deploy algorithms that power risk and compliance programs in real time, without requiring technical know-how. This flexibility allows financial institutions to stay ahead of emerging trends and evolving financial crime typologies. By unifying data, automation, and investigation tools into a single platform, Hummingbird simplifies the complex task of monitoring customer risk and handling financial crime investigations.
Hummingbird’s acquisition of LogicLoop aligns with its goal of becoming the core operating platform for financial crime management. Jesika Haria, CEO of LogicLoop, emphasized that the integration will help financial institutions harness the full potential of their data with automation and AI. This will not only improve operational efficiency but also provide a competitive advantage in the fight against financial crime. With this addition, Hummingbird aims to redefine how financial institutions manage risk and compliance, driving more impactful outcomes in financial crime prevention.
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