Intensifying the Fight Against Financial Crime, Vital4 and TruNarrative Announce Strategic Global Partnership
Vital4, a global leader in AML data and technology, announces its partnership with U.K.-based TruNarrative, a leading global player in financial crime detection and compliance solutions.
U.S.-based Vital4 is the latest, most innovative data solution provider in the AML/KYC market, enabling businesses to identify individuals and entities who pose a financial crime risk. TruNarrative and Vital4 are leading the charge in the shift towards process automation and enhanced due diligence.
Building on 3 years of growth in Europe, in 2019 TruNarrative opened offices in the U.S. and set up in Vital4’s hometown of Atlanta, GA, where 70% of US payments are processed, known as “transaction alley.”
Alternatively, Vital4 recently expanded into Europe and has an instance of their platform in the E.U. to support European compliance standards and enhance their global reach.
This partnership will prove advantageous for TruNarrative customers, as they will now have access to the latest cloud technology driven by Artificial Intelligence (AI) and Machine Learning (ML), delivering enhanced screening and monitoring of sanctions, regulatory and enforcement watch lists, politically exposed persons (PEP) and adverse media.
Vital4’s solution offers a significant reduction in false positives all while providing the most sophisticated name matching technology to hit the industry. It is this technological advancement in the AML/KYC market that can minimize financial crime and mitigate risk for regulated institutions.
The TruNarrative approach harnesses artificial intelligence in data-rich systems capable of learning, where legacy systems cannot adapt quickly enough to deliver. The TruNarrative platform and decision engine combined platform, with Vital4’s data and scoring methodology, means businesses are able to streamline their process through customizing rules and scoring.
TruNarrative’s CEO John Lord 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.”
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.”
The spread of eCommerce and the rise of Fintech require a fresh approach to fraud and money laundering detection and prevention. This powerful team is ready to take down the financial criminals one search at a time.
TruNarrative was founded with a single mission: to make safe commerce simple. With its head office in Leeds, U.K., TruNarrative also has offices in London, and Atlanta, GA. TruNarrative is transforming the risk, fraud, identity, KYC and AML process by providing a single platform built on state-of-the-art technology, bringing the best of workflow, data science and strategy orchestration to ambitious companies of all sizes.
TruNarrative – We Make Safe Commerce Simple
VITAL4 provides global screening solutions to help organizations maintain regulatory compliance and mitigate third-party risk. As a cloud software platform made fast and powerful by proprietary machine learning technology, VITAL4 was developed to bring the agility of SaaS services to enterprise compliance regimes and eliminate slow update cycles, shallow source pools and the human-error risks of manual legacy processes.
VITAL4 was built with four fundamental concepts in mind: compliance, accuracy, global insight and value.
VITAL4 Contact:Amy Barbieri, Chief Revenue Officer & VP of Marketing404-771-1893[email protected]Related Links TruNarrative Website Related Files TN-Logo-ICON-withstrapline-(RGB)-.jpg Related Images Press Release Service by Newswire.com Original Source: Intensifying the Fight Against Financial Crime, Vital4 and TruNarrative Announce Strategic Global Partnership