LexisNexis Risk Solutions has acquired TruNarrative, a provider of cloud-based financial crime detection and prevention technology.
As part of the deal, TruNarrative will become a part of LexisNexis’ Business Services group.
Founded in 2016, TruNarrative helps companies manage their financial crime lifecycle through a single platform. Its features boast simplified and automated onboarding, dynamic risk scoring and transaction monitoring.
Its services are easy to implement with no-code configuration and rapid integration through APIs.
LexisNexis Risk Solutions CEO Rick Trainor stated the acquisition will provide the RegTech company with an array of financial crime prevention tools to help protect more workflows.
Trainor said, “Organisations are seeking solutions that help them comply more easily with evolving regulations and prevent financial crime, so they can focus more on growing their businesses.
“The TruNarrative platform aligns with our financial crime compliance and fraud solutions, since it allows regulated organisations, such as banks, payment companies, non-bank financial institutions and designated non-financial businesses, to orchestrate their end-to-end compliance obligations, meeting onboarding and transaction monitoring requirements with lower customer friction.
LexisNexis leverages data, technology and analytics to give businesses actionable insights to improve analysis and risk management. Its financial crime compliance tools help a client maintain compliance and reduce their risk of fines and reputational damage; it claims.
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