RationalFX selects TruNarrative to boost ID verification
Leeds-based TruNarrative has been selected by foreign exchange and international payments company RationalFX to enhance the latter’s customer onboarding and ID verification processes.
TruNarrative’s SaaS will be integrated with RationalFX’s existing tech stack
David Morgan, product owner at RationalFX, says the partnership with TruNarrative will provide the firm with a “scalable onboarding solution with enhanced fraud detection measures” and will help reduce its onboarding time to “less than 5 minutes”.
RationalFX claims over 180,000 registered clients across over 170 countries. The firm says it has facilitated over $12 billion in international payments since its launch in 2005.
TruNarrative’s software-as-a-service (SaaS) platform enables businesses to detect fraud and identify risk via a single API. It will be integrated with RationalFX’s existing tech stack, including its core platform and front-end systems.
The partnership will allow RationalFX to verify the identity of new customers by performing document verification, selfies and liveness checks.
The TruNarrative platform will also allow RationalFX to build different onboarding processes for various jurisdictions to ensure compliance with differing regulations.
The UK firm was also selected by Sweden’s Ikano Bank in April to power its fraud prevention strategy.
