European RegTech company TruNarrative is setting up a new US headquarters in Atlanta to cement its presence in the North American market.
“Launching our platform across European markets has provided us with an ideal testbed for demonstrating the value of our unified approach,” said John Lord, CEO of TruNarrative. “Addressing Europe’s different regulations will serve us well as we expand into North America’s multiple jurisdictions.”
The news comes on the back of Tally, a banking app, announcing in August that it would use TruNarrative’s services to provide a unified platform for real-time customer onboarding.
The idea behind TruNarrative’s countermeasures against financial crimes and to boost compliance is to put every solution under one roof.
It argues that most financial services organisations rely on several providers to ensure adherence to regulations and protection against illicit behaviours. The problem is that this approach results in multiple different datasets that the business will have to sieve through.
The company claims its single no-code platform enables businesses to reduce the hassle and boost their compliance by connecting multiple identity verification, fraud detection, eKYC and AML compliance data providers via a single API.
“TruNarrative has created a robust financial crime and anti-fraud software platform and is changing the way the industry approaches complex AML and KYC compliance requirements, something every regulated business is currently grappling with,” said Kristin Stafford, co-founder and CEO of Atlanta-based AML technology company Vital4.
“Our AML data solution integrated with TruNarrative’s decision engine platform dramatically improves the screening and monitoring of sanctions as well as regulatory and enforcement watchlists, adverse media and PEP’s with associations. We are excited to see TruNarrative bring its innovative platform to the North American market.”
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