TruNarrative and Suffolk Building Society agree customer onboarding partnership

TruNarrative, a regtech platform in the financial crime and compliance sector and part of LexisNexis Risk Solutions has been appointed by Suffolk Building Society to enhance its financial crime and fraud prevention processes and digitalise its customer onboarding. With TruNarrative’s real-time financial crime decisioning and risk rating, the mutual will significantly improve the efficiency and speed of onboarding new mortgage customers.

Ian Brighton, Chief Operating Officer, Suffolk Building Society said “TruNarrative’s platform is a real game-changer for the Society. Not only will it digitalise and therefore streamline our approach to onboarding, meaning direct mortgage applicants and mortgage intermediaries will benefit from faster response times, it also enables us to take control of our own strategy. By allowing us to react to fraud and market trends and tweak our criteria as appropriate, we are not only mitigating our risk today but have the means to do so in the future too.”

Edward Vaughan, Head of Banking at TruNarrative said “It’s fantastic to be working with such a forward-thinking and digitally-focused building society in the midst of their digital transformation. We are eager to support the future success and growth of the Society by helping them deliver a best-in-class customer experience for their customers.”