11:00 AM 18th February 2021
TruNarrative Launch New Identity Verification And Anti-money Laundering
RegTech firm TruNarrative has expanded its product line-up with new Know Your Customer (KYC) and Anti-Money Laundering (AML) solution TruPortal, designed specifically for low-volume users.
Established in 2016, TruNarrative’s platform is trusted as a critical supplier by top-tier financial institutions, banks, payments services, and ecommerce businesses.
Delivered through its 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 its 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
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.
Ryan Morrison, COO of TruNarrative,
said: “We see the professional services space as being underserved in their compliance requirements.
"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.”
John Lord, Founder & CEO of TruNarrative,
said: “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. 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”.