Ikano Bank has bolstered its fight against fraud and continued its digital expansion, collaborating with UK based RegTech firm, TruNarrative.
It comes as part of Ikano’s digital transformation programme and will see the TruNarrative platform integrated with Ikano’s new technology ecosystem – further facilitating the group’s Europe wide fraud prevention strategy.
Edward Vaughan, Head of Banking at TruNarrative commented: “We are delighted to be supporting Ikano Bank’s digital transformation programme with the delivery of our global fraud and financial crime platform. We look forward to being at the heart of their financial crime risk management processes as the bank continues to develop new innovative products and scale into established and new markets.”
As part of the partnership, the TruNarrative platform will deliver a range of capabilities across customer onboarding and transactional risk, including: financial crime prevention, money laundering detection, identity and biometric verification, multi bureau KYC (know your customer), KYB (know your business), PEPs (politically exposed persons) & Sanctions and anomaly detection.
Michael Southgate, Global Head of AML and Fraud at the firm added: “Working together with TruNarrative is helping Ikano Bank to accelerate our global digital transformation, whilst ensuring the highest levels of financial crime risk management and enables us the flexibility to quickly respond to new and emerging threats within a single technology platform.”
As part of the link, TruNarrative will focus on the real-time low friction experience that customers expect, and facilitate the group’s Global customer acquisition strategy whilst maintaining high level of financial crime prevention.
The TruNarrative platform will integrate with Ikano Bank’s tech stack, including the financial organisation’s core architecture, front end website and native Apps. The partnership means Ikano Bank can make manual and automated decisions within a single platform, enabling localised approaches for each region.