Leeds-based TruNarrative chosen to boost global currency specialist’s financial crime strategy
London-headquartered global currency specialist Mercury FX has invested in cutting-edge platform from RegTech firm TruNarrative, to enhance its customer onboarding processes, regulatory compliance and financial crime prevention strategy.
As a regulated firm, Mercury FX is required to perform a multitude of Know Your Customer (KYC) checks on companies and individuals they work with. Being a global business, Mercury must be able to onboard and monitor customers from all over the world. Needing to automate and organise these checks whilst maintaining compliance and delivering a low friction on boarding experience, Mercury went to market for a technology solution.
Using TruNarrative’s single Application Programming Interface (API) and portal, Mercury FX can adapt its onboarding processes without the need for further integrations or resources. This allows the firm to easily tweak its strategy inhouse to reduce false positives, while simultaneously improving risk decisioning, reporting and case management visibility. The global currency organisation is also be able to maintain a central audit trail of all activity related to a client’s individual account – allowing Mercury FX to operate with
Source: TruNarrative Press Release