John Lord, TruNarrative’s CEO

AML data and technology solutions provider Vital4 has entered into a partnership with financial crime detection and compliance solutions provider TruNarrative in a bid to fuel process automation and due diligence. The partnership is expected to provide TruNarrative’s customers with access to AI and ML-based cloud technology with an aim to deliver screening and monitoring of sanctions, regulatory and enforcement watchlists, etc.

John Lord, TruNarrative’s CEO stated, “Vital 4 is an important integration for our customers, providing world-class data and APIs that can be consumed within the TruNarrative suite of Risk & Financial Crime Technologies deployed in our SaaS platform. They bring an incredible level of detail, reliability, and trust into an organization’s customer journey. We look forward to working with them, their customers and the rest of the US market.”

According to Vital4, its solution aims to reduce false-positives along with the provision of name matching technology. The supplier’s solution combined with TruNarrative’s decision engine platform is expected to streamline processes through the customization of rules and scoring. Vital4’s AI-based fraud data solution will be integrated into the latter’s Risk and Financial Crime platform.

Vital4’s CEO and Co-founder Kristin Stafford said, “This is a critical partnership between Vital4 and TruNarrative. TruNarrative has created a robust anti-fraud software platform and is set to change the way the industry approaches AML/KYC compliance. I am thrilled they chose Vital4 as their key data technology provider. Together our two technology companies will lead the market in AML/KYC compliance.”

Recently, British banking app Tally selected TruNarrative in a bid to enhance its customer onboarding and identity verification process.

by Megha Bhattacharya
Market Analyst at IBS Intelligence