Hummingbird acquires LogicLoop to manage financial risk and compliance

By Gloria Mathias

Hummingbird, a provider of financial crime risk management solutions, has announced the acquisition of LogicLoop, a pioneer in no-code data integration and automation.

The acquisition marks a step forward in Hummingbird’s mission to become the core operating platform for financial crime fighters, empowering financial institutions to unify, explore, and act on their risk and compliance data.

Data fragmentation continues to be the top challenge faced by financial institutions globally. Risk and compliance teams, in particular, struggle to access their data and leverage it for risk management and financial crime investigations, resulting in gaps and inefficiencies. With LogicLoop’s innovative technology, Hummingbird is poised to tackle this problem head-on.

“We envision a future where financial institutions can connect any data source, instantly access the information using queries or AI, and route it through automated procedures and into investigations to facilitate compliance work seamlessly,” said Joe Robinson, Co-Founder and CEO of Hummingbird. “This acquisition brings that future into the present day, increasing the utility of an institution’s data and enabling better decision-making for financial crime fighters.”

Use cases for this suite of customer benefits include assessing customer risk, simplifying data exploration to identify trends, and enriching existing data for deeper insights and more informed decision-making. By empowering risk and compliance teams to set up automated procedures on top of their data without the need for engineering resources, LogicLoop enhances the existing Hummingbird platform and offers even more ways to streamline their operations and keep their institutions safe.

“I founded LogicLoop to empower operations teams to do more with data without relying on scarce technical resources,” said Jesika Haria, Co-Founder and CEO of LogicLoop. “By integrating LogicLoop into Hummingbird’s best-in-class compliance platform, more financial institutions will be able to harness the power of data, automation, and AI, gaining a competitive advantage in the fight against financial crime.”

With the addition of LogicLoop, Hummingbird is set to redefine how financial institutions handle risk and compliance. It will provide greater access to data, simplify and automate operations, and enhance decision-making to deliver more impactful outcomes.