TruNarrative, one of the leading regtech platforms which have been growing globally at a fast pace in recent months, has announced that it has been chosen by the Rational Group, the owners of the FX platform RationalFX and the payments platform Xendpay to push its customer onboarding and KYC processes.
TruNarrative has been onboarded by various financial firms including banks for their regtech platform which helps the firms to perform KYC and also deal with their internal AML processes. Their SaaS platform is very easy to integrate using their single API which helps the companies to automate their onboarding processes. This helps the clients to detect fraud in a very quick and reliable manner.
“We love to partner with firms who go above and beyond to produce a great experience for their customers,” said John Lord CEO at TruNarrative. He added, “We look forward to delivering RationalFX our technology to help them take on and manage customers in a safe and compliant way”.
RationalFX was started in 2005 and so far it has completed international transactions of value over $12 billion in over 170 countries. The sheer size and variety of their operations across several geographies make it very important for them to have very tight AML and client onboarding procedures that can be customized according to their needs while at the same time make the whole experience as seamless as possible with compliance to current and future regulations across the different countries and jurisdictions in mind and they found TruNarrative to be a good fit in this regard.
“We always want to make our client experience the best it can be. Integrating with TruNarrative reduces the time clients spend onboarding to less than 5 minutes, enabling them to take advantage of our competitive rates on weekends and out of office hours, all whilst providing us with a scalable onboarding solution with enhanced fraud detection measures.” said David Morgan, Product Owner at RationalFX He added, “This partnership will be key as we look to enter a new hyper-growth mode and take the business to the next level. Watch this space.”
Recently, we had reported that the TruNarrative regtech platform was used by MoneeMint, a digital bank in the UK as well as the Ikano bank Europe for their onboarding process and flow. RegTech is likely to continue to grow as more and more companies seek to grow globally and with regulations being different in each country, they need a strong partner in this field to help them onboard clients so that the company itself can focus on sales, customer support, and operations support for its clients.