RegTech platforms TruNarrative and kompany join forces to enable swifter anti-money laundering compliance for regulated businesses around the world. TruNarrative’s decisioning and orchestration solution now includes kompany’s global register network for AML compliance
RegTech platform TruNarrative is partnering with kompany to add the Austrian RegTech’s comprehensive business verification and digital onboarding solutions to the TruNarrative App Store. The partnership will ensure TruNarrative’s diverse portfolio of clients can access kompany’s network of accurate and up-to-date company information.
TruNarrative is trusted by banks, financial services, FX, payments and e-commerce businesses for their financial crime detection, consumer and corporate onboarding, behavioural and transactional monitoring strategies. Accessed via a single API, TruNarrative’s decision engine can deliver risk scoring, behavioural models, along with full case and referral management.
kompany operates a global register network providing real-time access to commercial registers, financial and tax authorities covering over 110 million companies from more than 200 countries and jurisdictions.
TruNarrative’s partnership with the kompany data network means customers can seamlessly access entity information directly from the primary source, reducing manual KYB processes and enabling a low friction digital onboarding journey for new clients.
“kompany is an important App Store integration for us. Providing our clients with their comprehensive business verification within the TruNarrative SaaS platform. We look forward to providing our clients access to kompany’s network of real-time data and company filings,” commented Andy Pearson, Head of Data Partnerships at TruNarrative
The partnership will also offer TruNarrative’s clients the ability to verify international bank account numbers (IBAN) and European VAT numbers using kompany’s extended service features. kompany services can help TruNarrative clients meet their regulatory requirements for anti-money-laundering and due diligence with increased ease and confidence.
“We estimate that only 5% of financial institutions today have automated their B2B or corporate banking onboarding and 75% still rely on google searches; our clients typically realise a reduction of 50% in cost and 90% in time savings and can achieve full AML compliance from day one. We are delighted to support TruNarrative’s customers to stay competitive and compliant now and into the future,” said Russell E. Perry, CEO and Co-founder at kompany.
About: kompany is the leading RegTech platform for Global Business Verification and Business KYC (KYB) for AML compliance. Its advanced API platform, collaborative web-based KYC workspace and UBO discovery® products provide financial institutions, payment providers, insurers and other regulated corporations the automation platform and tools required for Business KYC (KYB) and audit-proof business verification for anti-money-laundering compliance. Clients include global and international banking groups, FinTechs, Big Four accounting firms, law firms, Banking-as-a-Service and compliance platforms, as well as multinational corporations.
kompany is an alumnus of Mastercard Startpath, Plug and Play FinTech, Raiffeisen Bank International’s Elevator Lab, the Oracle Scale Up programme and founding member of the International RegTech Association and the Austrian Blockchain Association.
It is headquartered in Vienna, Austria with offices in London, New York, and Singapore. kompany is a government licensed clearing house of registers with real-time access to commercial registers, financial and tax authorities worldwide. Find out more at kompany.com, or follow on LinkedIn.
Source: TruNarrative Press Release