Leeds, UK-based fraud and money laundering detection and prevention system TruNarrative has been acquired by LexisNexis Risk Solutions. The financials and terms and conditions of the deal remain undisclosed.
Founded in 2016, TruNarrative uses a no-code configuration approach, and with a single API, identity verification, fraud detection, eKYC, risk assessment, AML compliance, and account and transactional monitoring services are all included. The company services a wide range of industries including a number of fintechs, including Swedish rising star Juni, and, a healthy number of players from the casino/gambling sector,
LexisNexis Risk Solutions’ Rick Trainor comments, “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.”