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The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

TruNarrative Brings Identity Verification Solution to Small Businesses

Leeds-based Enterprise RegTech TruNarrative has launched a brand new, low-cost client verification and regulatory compliance solution for the legal, investment, accountancy and Rreal estate sectors in a bid to solve and streamline the KYC and KYB challenge for smaller firms.

TruPortal is a platform designed specifically for low-volume users, offering KYC and AML solutions including AI-driven onboarding, risk rating and transaction monitoring technology for behavioural and account monitoring, and fraud prevention.

It also gives users access to checks including credit reference agency-derived identity verification; PEP (Politically Exposed Persons) and sanctions checks; and automated document verification for multiple document types including UK and EU driving licenses, passports, and identity cards.

On the KYB (Know Your Business) side, which has been growing in stature and importance in recent years, the product incorporates a business verification suite, including company verification; director, ultimate beneficial owner (UBO), and shareholder information; AML and adverse media checks; and business credit reports.

Delivered through the firm’s cloud-based Software-as-a-Service (SaaS) Risk & Financial Crime platform, TruNarrative offers around 100 pre-integrated third-party data sources covering more than 50 countries.

We see the professional services space as being underserved in their compliance requirements,” says Ryan Morrison – Chief Operating Officer at TruNarrative. “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.”

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