Mon, 30 Aug 2021 | BUSINESS SALE
TruNarrative, a Leeds-based firm specialising in software for compliance and financial crime prevention, has been acquired by counterpart LexisNexis Risk Solutions UK. Post acquisition, Leeds-based TruNarrative will join the Business Services division of LexisNexis Risk Solutions, which is part of RELX.
TruNarrative provides solutions for businesses and other organisations covering the financial crime lifecycle. Its platform enables simplified, automatic onboarding as well as transaction and risk score monitoring.
The acquisition will add TruNarrative’s specialisms to LexisNexis Risk Solutions’ existing offering, which includes analysis and risk assessment for businesses, powered by technology, data and analytics.
LexisNexis Risk Solutions CEO Rick Trainor said: "Organisations are seeking solutions that help them comply more easily with evolving regulations and prevent financial crime, so they can focus more on growing their businesses.”
"The TruNarrative platform aligns with our financial crime compliance and fraud solutions, since it allows regulated organisations, such as banks, payment companies, non-bank financial institutions and designated non-financial businesses, to orchestrate their end-to-end compliance obligations, meeting onboarding and transaction monitoring requirements with lower customer friction.
"This acquisition positions us well to help a wide range of businesses select the financial crime prevention components they need, then quickly enable and utilise these tools within high functioning, easy-to-use workflow."
TruNarrative’s CEO and founder John Lord added: "The team at TruNarrative has worked tirelessly over the past four years building the fastest growing SaaS platform for risk and financial crime. As we reached our high growth, this inflection point helped us focus on seeking a true international partner who could help drive global adoption of TruNarrative's leading technology.”
“The leading capability from LexisNexis Risk Solutions in data and analytics and the high quality of their team made them an obvious choice to help us deliver the next chapter of our amazing journey."
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