Leeds-based Enterprise RegTech launch low-cost client verification and regulatory compliance solution for Legal, Investment, Accountancy and Real Estate sectors
London, Feb. 25, 2021 — Leading RegTech firm TruNarrative has expanded its product lineup with new Know Your Customer (KYC) and Anti-Money Laundering (AML) solution TruPortal, designed specifically for low-volume users.
Established in 2016, TruNarrative’s orchestration and decisioning platform is trusted as a critical supplier by top-tier financial institutions, banks, payments services, and ecommerce businesses. TruNarrative’s customers benefit from the latest AI-driven Onboarding, Risk Rating and Transaction Monitoring technology for Behavioural and Account Monitoring, Fraud Prevention, and Anti-Money Laundering (AML).
Delivered through their cloud-based Software-as-a-Service (SaaS) Risk & Financial Crime platform, TruNarrative offers close to 100 pre-integrated third-party data sources covering 50+ countries.
Following success in the enterprise space, TruNarrative saw a need to bring their bank-grade technology to businesses of all sizes, including Legal, Accountancy, Estate Agents, branch or high street professionals, and corporate in-house compliance teams.
In a climate of tightening regulation, including the 5th and 6th EU Anti-Money Laundering Directive (AMLD) businesses are obliged to verify, investigate, and monitor their customer base for fraud prevention and anti-money laundering purposes in adherence with constantly evolving compliance requirements.
TruPortal by TruNarrative delivers the capability to call upon enterprise-level technology to take on and monitor new and existing clients: individuals, businesses and their directors.
TruPortal gives professionals access to a host of checks, including Credit-Reference Agency-derived Identity Verification; PEP (Politically Exposed Persons) & Sanctions checks; and automated Document Verification for multiple document types including UK & EU Driving Licenses, Passports, and Identity Cards.
In addition, TruPortal incorporates an extensive Business Verification suite, including: Company Verification; Director, Ultimate Beneficial Owner (UBO), and Shareholder information; Anti-Money Laundering & Adverse Media checks; and Business Credit Reports.
Designed to make Know-Your-Customer (KYC) & Know-Your-Business (KYB) due diligence checks simple, quick and easy to perform, TruPortal facilitates compliance with the regulatory obligations around client verification and anti-money laundering.
“We see the professional services space as being underserved in their compliance requirements,” said Ryan Morrison, COO of TruNarrative. “TruPortal delivers a super low entry cost of less than £500 and no cap on users, allowing firms to rapidly obtain the information they need to compliantly onboard and engage with their clients.
“With one of the lowest entry costs in the market, and a unique self-service approach, TruPortal is accessible to smaller firms and those with low-volume customer bases – an area which is currently under-served and under increasing regulatory scrutiny.”
“In 2016 we launched our unified platform for financial crime compliance, and we disrupted the marketplace and changed the game,” said John Lord, Founder & CEO of TruNarrative. “Our new product TruPortal is set to do the same for the high street professional services market. This is a space that needs innovation but hasn’t seen it in too long. With TruPortal, we’re planning to transform and massively improve the way that high street businesses verify their clients.”
About TruNarrative
TruNarrative was founded with a single mission: make safe commerce simple.
Established in 2016, TruNarrative’s intuitive RegTech solution transforms fraud management,
reduces risk, and streamlines KYC and AML processes.
TruNarrative assists ambitious companies of all sizes from across the banking, lending, financial
services, betting, payments, ecommerce and professional services industries.
TruNarrative’s partnerships with major credit reference agencies, document and biometric
verification services, device intelligence suppliers, and dozens of other market-leading data
service providers offer easily configurable integrations to businesses and non-technical users.
The company operates from offices in London and Leeds, UK.
www.trunarrative.com