UK Challenger ikigai partners with RegTech Platform TruNarrative
- 27.04.2020 12:56 pm
Innovator TruNarrative, a leading RegTech platform in the financial crime and compliance sector, today announced a partnership with one of the UK’s latest banking and wealth management apps, ikigai.
TruNarrative enables businesses to detect fraud and identify risk using a single API. Their technology is used to strengthen fraud detection and compliance across the globe in a range of industries including, banking, lending, online gambling, eCommerce and payment services.
ikigai combines wealth management and banking in a single intuitive app. ikigai’s commitment to innovation, ease and accessibility with its flat monthly fee means that customers can unlock their savings potential and stay in touch with their investments easily and in real-time.
The partnership follows a competitive tender process and will give ikigai full access to the TruNarrative platform and its capabilities, in customer onboarding, identity verification, account monitoring, payment screening, transactional risk and ongoing risk monitoring of customers.
ikigai sleek app helps customers take better care of their finances. ikigai users can set up a budget and automatically invest at the end of the month based on their spending. They can then stay on-top of both their spending and their investments all through a single intuitive app. Introducing a flat monthly fee of £20, ikigai does not charge its customers a percentage fee for the management of their investments, unlike traditional players.
“ikigai are innovators in the digital banking space. I am delighted that they are now one of our customers and that TruNarrative can support their onboarding processes and ongoing compliance.” Edward Vaughan Head of Banking, TruNarrative
Rather than building onboarding and monitoring systems from a range of point solutions, ikigai’s partnership with TruNarrative provides them a quick route to live, while managing the client risk process.
The TruNarrative platform delivers robust compliance, financial crime prevention and money laundering detection whilst implementing a strong ID and biometric verification, multi bureau eKYC, PEPs and Sanctions and anomaly fraud detection.
“We are excited to partner with TruNarrative so our customers can experience a fast and frictionless onboarding process. TruNarrative will help us ensure that our customers’ investments and accounts are safe and protected from financial crime.” Ina Browning, VP of Operations, ikigai