Hummingbird, a leading financial crime risk management platform, has announced its acquisition of LogicLoop, a no-code data integration and automation technology company. This strategic move aims to enhance Hummingbird’s mission of becoming the foundational operating system for global financial crime and compliance teams.
The acquisition addresses a critical challenge in the financial sector: data fragmentation. Financial institutions often struggle to access and effectively use data for risk management and financial crime investigations. With LogicLoop’s innovative no-code platform, Hummingbird seeks to eliminate these inefficiencies by integrating internal and external data sources, simplifying workflows, and empowering institutions to quickly adapt to emerging financial crime trends.
Hummingbird is widely recognized for its solutions in anti-money laundering (AML), anti-fraud, and customer due diligence, focusing on improving the efficiency of compliance teams while maintaining accuracy. LogicLoop’s platform allows operational teams to utilize data without requiring intensive technical resources, streamlining data-driven decision-making.
This merger creates a unified operating system for risk and compliance management, reducing reliance on technical staff while providing advanced data aggregation and visualization tools. Financial institutions will now be able to connect various data sources, automate compliance procedures, and conduct more thorough investigations.
Hummingbird CEO Joe Robinson commented, “We envision a future where financial institutions can connect any data source, instantly access the information using queries or AI, and seamlessly facilitate compliance work. This acquisition brings that future into the present day.”
Jesika Haria, CEO of LogicLoop, added, “By integrating LogicLoop into Hummingbird’s best-in-class platform, more financial institutions will harness the power of data, automation, and AI, gaining a competitive advantage in the fight against financial crime.”
The acquisition marks a significant step in revolutionizing risk and compliance management, enabling better decision-making and faster adaptation to financial crime threats.
