Use Cases
Law firms
Lawyers use Lucra to keep their firms compliant with SRA and MLR obligations and defended against fraudulent transactions.
Safeguarding outbound payments
Protect office and client money against socially engineered scams and payment errors by accessing accurate and verifiable bank data.
Real-time trusted-source data
Lucra harnesses open banking to source bank account information directly from a payee's bank.
Superior confirmation of payee
First test of fraud is to actually see the full name on the account. Understand exactly who you are paying and if it matches the payee.
Transaction activity that matches payee profile
Second test of fraud is to determine how old an account is and whether its activity levels match the economic profile of the payee. Lucra delivers this with analysed transaction data. All in line with CQS protocols.
100% correct payment details
Don't worry about fat finger errors. Lucra pulls the account number, sort code and IBAN directly from the bank. So what you see is 100% correct.
Ultra secure protection of client data
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Bank data securely transferred via encrypted open banking APIs
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All PII securely stored in UK and EU databases
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All data is encrypted at rest (AES-256) and in transit (TLS 1.2+)
Simple and easy to use for clients
With no app downloads or file uploads required, clients can easily provide all the necessary information with minimal effort.
Effortlessly demonstrate AML compliance
Effortlessly maintain compliance with MLR and SRA anti-money laundering obligations with Lucra's automated screening and monitoring capabilities.
Screen all payees for AML risks
Client or beneficiary, Lucra lets you validate IDs and screen for global sanctions, adverse media and PEP status. All in real-time.
Maintain 24/7/365 monitoring
Fulfill obligations to monitor clients and beneficiaries with monitoring capabilities that work quietly in the background, alerting you every time there is a change.
Adjust screening settings for different risk profiles
Conduct matter risk assessments according to their specific risk profile, by configuring how you screen for PEPs, adverse media and fuzzy logic.
A single source of truth for reporting and audit
Bank, ID and AML information, results of checks, screening settings, notes and observations, and an audit timeline of user action and activity. All neatly delivered in a single report.
Works for any transcation
Flexible and configurable to be deployed on any transaction, at any point in your process.
Sell side M&A
Debt financing
Sell side conveyancing
Remortgaging
Probate distributions
Supplier payments
And any other client or office outbound payment