Use Cases
Professional Services
Lawyers, fund managers and accountants use Lucra to keep their firms compliant and defended against fraudulent transactions.
Safeguarding outbound payments
Protect firm and client money against socially engineered scams and payment errors by accessing accurate and verifiable bank data from payment recipients.
Real-time trusted-source data
Lucra harnesses open banking to source bank account information directly from a recipient'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 recipient.
Transaction activity that matches payee profile
Second test of fraud is to lift the veil on a bank account's usage and age to see whether its activity levels match the economic profile of the recipient.
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 personal data
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Bank data securely transferred via encrypted open banking APIs
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Bank data never stored by Lucra
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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
With no app downloads or file uploads required, payment recipients can easily share their bank information with minimal effort.
Effortlessly demonstrate AML compliance
Effortlessly maintain compliance with 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.
M&A
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Fund inception and deployments
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Conveyancing
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Outsourced accountancy
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Probate distributions
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Supplier payments
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Any high-value outbound payment