Hummingbird, a San Francisco, CA-based provider of financial crime risk management solutions, announced the acquisition of LogicLoop, a San Francisco, CA-based company which specializes in no-code data integration and automation.
The amount of the deal was not dislcosed
The combined offering will deliver:
- No-code integrations: The combined solution enables the connection of internal and external data sources via no-code integrations, reducing reliance on technical resources. Data fed into Hummingbird can then be used to power automation and ad-hoc exploration.
- Algorithmic power: Hummingbird’s acquisition of LogicLoop expands customers’ ability to build, test, and deploy the algorithms that power risk and compliance programs – on the fly and without the need for technical expertise. This means customers get immediate access to the data they need, allowing them to simultaneously stay on top of emergent trends and new fincrime typologies, flexibly adapting as situations evolve.
- Unified operating system: Hummingbird is expanding its ability to unify data, automation, and investigations, allowing in-depth explorations of customer profiles and activities to be conducted through data aggregation and visualization tools. Additionally, information and decisions can be routed directly to any system powering financial crime operations.
Led by CEO Jesika Haria, LogicLoop is a no-code data integration and automation that monitors business operations in fraud, risk, logistics and growth without needing engineers. It uses AI to generate SQL automatically.
Led by CEO Joe Robinson, Hummingbird allows financial institutions to drive efficiency, without sacrificing accuracy or compromising on risk. It is designed to streamline anti-money laundering, anti-fraud, customer due diligence, and other compliance workflows.
FinSMEs
20/09/2024