Welcoming LogicLoop to Hummingbird

Introduction

Today, I’m excited to share that Hummingbird has acquired LogicLoop, a move that furthers our mission to become the core operating platform for risk and compliance teams. LogicLoop is a pioneer in no-code data integration and automation, empowering financial institutions to do easily that which typically requires significant resources: unify, access, and act on their data.

Overcoming the industry’s most persistent problem

Data fragmentation is a tricky – and persistent – problem for risk and compliance teams. Over many years, we’ve heard from organizations of all sizes, from early-stage fintechs to tier-one banks,  about just how difficult this problem is to solve. And while the business cases and industries might vary, the frustration is always the same: I can’t efficiently access my data, and it’s dragging my team down. 

It’s a problem with a dangerous snowball effect. Without easy access to their data, teams struggle to quickly respond to emergent trends and get to the information they need to identify suspicious activity, reducing their efficacy at stopping financial crime. Stuck in rigid systems, they find themselves waiting for technical resources or relying on partial data that only provide half – or, sometimes, none – of the picture. 

It’s one of the problems we built Hummingbird to solve – we set out to build a platform to fill in the picture, to make risk and compliance work faster, easier, and more impactful. Now, through our acquisition of LogicLoop, investigators can get even more utility from their institution’s data, helping them streamline operations, more effectively manage risk, and make more informed decisions.

A unified operating system for financial crime risk management

Our combined solution makes Hummingbird an even more powerful platform for orchestrating all parts of your risk and compliance program. Imagine being able to connect any data source, easily access the information using queries and AI, and seamlessly route it through algorithms and into investigations. That’s exactly what our combined solution will deliver. 

In addition to our existing capabilities, Hummingbird will soon offer enhanced support for:

• No-code integrations: Easily connect the internal and external data sources that your team relies on. No-code integrations mean you can access and put your data to work right away. No more having to wait for engineering resources to free up.
  
  
• Flexible algorithms: Build, test, and deploy algorithms that power risk and compliance programs – on the fly and without needing deep technical expertise. Flexible querying and algorithms mean you get immediate access to the data you need, allowing you to stay on top of emergent trends and quickly adapt as situations evolve. 
  
  
• Data exploration: With all of your data aggregated in one system, in-depth and ad-hoc exploration of your data is now possible. Use data visualization tools to understand and uncover risk signals in customer profiles and activities. Flow data into all the places you need, using it to automate procedures, investigate specific typologies, and work cases. 

With a unified operating system, risk and compliance teams will be able to manage their data, leverage automation and AI, and conduct investigations – all in a single place. Our combined solution enables new and deepens existing use cases, allowing investigators to quickly assess customer risk, react to suspicious trends and activity, and automate investigative procedures. 

Continuing our journey, building on our mission

Bringing together Hummingbird and LogicLoop is about enhancing our platform capabilities and expanding the reach of what we’re able to provide our customers. That’s the practical side of it. But the other aspect of today’s news that’s worth sharing is just how far the joining of Hummingbird and LogicLoop goes toward advancing our mission of fighting financial crime. 

We seek to make the world a better place by empowering compliance professionals with the tools they need to identify and stop bad actors. It’s about building a platform that embraces the future of compliance work – where data is easily accessible, investigations are faster, and financial crime investigations are complex, accurate, and impactful. By equipping teams to work smarter and more efficiently, we want to help turn the tide against financial criminals everywhere.

See what Hummingbird can do

If you’re excited by today’s announcement, and want to see how we’re redefining how financial institutions handle risk and compliance, please get in touch. We’d be happy to give you an early look at what our expanded platform can do.