Icelandic acquiring bank, Borgun hf, looks to cut client onboarding time and bolster its financial crime strategy with a new platform from TruNarrative.

The solution will boost Borgun’s merchant lifecycle management (MLM) process and enable the smooth adoption of new merchants into its payment network.

As well as facilitating the rapid adaptation of its compliance and risk processes to new markets and products, the platform will also add weight to the bank’s financial crime strategy in areas such as risk rating, fraud prevention, enhanced due diligence and more.

“Borgun hf. is constantly looking for new ways to make its services more efficient, while also ensuring the security of its payment processing,” says Sæmundur Sæmundsson, CEO of Borgun, which is a member of Visa Europe and Mastercard International. “Our use of TruNarrative’s platform for onboarding and MLM enables us to do exactly that, in addition to making sure that these key elements are in place in order to secure rapid business growth for our clients – which has always been Borgun’s main goal.”

Compatible with multiple existing third-party integrations, the platform adapts to the company’s needs without requiring process changes and can allow the quick addition of new services.

Source:  Fintech Futures Press Release