Author
By: Yinka Padonu
In a world where fraud tactics evolve rapidly and regulatory compliance grows more complex, Lumi360.ai is at the forefront of innovation, transforming how fintechs detect fraud and manage risk. Founded by Oluwatofunmi Oguntibeju—whose expertise in fraud detection, risk management, and privacy engineering spans industry giants like JumiaPay and Goldman Sachs—Lumi360.ai was built to eliminate the inefficiencies of traditional, rule-based systems.
By harnessing the power of AI-driven autonomous agents, the platform provides real-time fraud detection, adapts to emerging threats without manual updates, and ensures seamless
compliance enforcement. This eliminates false positives, reduces operational costs, and enhances security across financial ecosystems.
Q1: What inspired you to create Lumi360.ai, and how did you identify the need for an agent-based risk management solution?
I’ve spent years working on fraud detection, compliance, and risk management in fintech, and I saw the same frustrations across multiple organizations. While at JumiaPay, I was part of the engineering team that developed Jumia’s Risk Engine, where we integrated with LexisNexis and built in-house fraud solutions to mitigate transaction risks. The problem? Fraud
evolves too fast for rule-based systems to keep up, and manual intervention becomes a bottleneck.
Later, at Goldman Sachs, I worked in Privacy Engineering, where I saw firsthand how compliance analysts, fraud teams, and GRC (Governance, Risk, and Compliance) professionals struggled with regulatory requirements and constant false positives. The sheer
volume of alerts meant critical fraud cases slipped through the cracks while teams wasted time on low-risk transactions.
That’s when I realized: fintech needs autonomous AI agents that can learn, adapt, and act on fraud patterns in real time—without human bottlenecks. That’s exactly what we built with Lumi360.ai.
Q2: What are the biggest pain points in fraud detection and compliance that Lumi360.ai is solving?
We identified three major challenges:
⃣Fraud detection is reactive, not proactive – Most solutions rely on rule-based models, which fraudsters quickly adapt to. By the time a new fraud tactic is detected, businesses have already suffered losses.
⃣Compliance enforcement is tedious and manual – Fintechs struggle to keep up with evolving regulations like PCI DSS, GDPR, and PSD2. Manually reviewing transactions and ensuring compliance is slow, costly, and prone to human error.
⃣Risk teams suffer from alert fatigue – Current fraud detection systems generate too many false positives, forcing analysts to review an overwhelming number of transactions manually. This not only slows down legitimate transactions but also leaves actual fraud cases buried under noise.
Lumi360.ai’s AI-driven agent system eliminates these pain points by enabling self-learning, real-time fraud detection and compliance automation.
Q3: How does Lumi360.ai’s AI Agent-Based approach work, and why is it different from traditional fraud detection?
Most fraud detection systems rely on static rule-based models that need to be manually updated whenever fraud tactics evolve. This is a slow, reactive process.
Lumi360.ai takes a completely different approach using Autonomous AI Agents that:
✅ Analyze every transaction in real time using advanced machine learning models
✅ Continuously adapt to new fraud patterns—without needing manual rule updates
✅ Automatically flag regulatory violations and ensure compliance
✅ Prioritize high-risk transactions, reducing false positives and alert fatigue
These agents learn from historical fraud cases, detect anomalies, and proactively stop
fraudulent transactions before they cause financial damage.
Q4: How did your experience at JumiaPay and Goldman Sachs shape the development of Lumi360.ai?
At JumiaPay, I was part of the team that built and integrated a Risk Engine to detect fraud across multiple transaction types. We had to work with external providers like LexisNexis, but we also built in-house solutions to fine-tune fraud detection to Jumia’s specific needs. A big challenge we faced was that fraud rules had to be constantly updated, and we had to
manually train new staff to handle fraud cases—which was time-consuming and expensive.
At Goldman Sachs, I worked on Privacy Engineering, where I saw how regulatory compliance requirements were a major pain point for fintechs. Fraud and compliance teams had to spend endless hours reviewing alerts, which often led to burnout and inefficiencies.
These experiences made me realize that fraud detection shouldn’t rely on human intervention at scale—AI should be able to handle it autonomously.
Lumi360.ai was built to eliminate these inefficiencies, allowing AI agents to handle fraud detection, compliance, and risk management in real time—without human bottlenecks.
Q5: How did you validate Lumi360.ai before launching, and what impact has it had so far?
We spent months in the ideation phase, engaging with fraud analysts, risk managers, compliance officers, and fintech security leaders. We hosted deep-dive roundtables, gathered feedback from industry experts, and ran pilot tests with fintech partners.
The results were game-changing:
📉 40% reduction in fraud incidents within pilot fintech programs
⏳ 30% faster compliance enforcement due to AI-driven regulatory checks
💰 Significant cost savings by reducing manual fraud review efforts
These findings validated our approach, and now we’re scaling to help more fintechs detect, prevent, and eliminate fraud in real time.
Q6: What’s next for Lumi360.ai?
We’re continuing to refine and expand our AI agent system to handle even more complex fraud patterns. Our focus is on scalability, deeper integrations with fintech platforms, and making compliance fully autonomous. The future of risk management is AI-driven, self-learning, and proactive—and Lumi360.ai is at the forefront of that revolution.
Q7: When is Lumi360.ai likely to launch?
We are on track to launch our Minimum Viable Product (MVP) in Q2 of 2025. Want to see how Lumi360.ai can protect your fintech business?
Visit our website at https://lumi360.ai to learn more.