TruNarrative Provides Onboarding and Risk Management Services for MoneeMint

Another challenger bank is turning to TruNarrative for digital onboarding and risk management. MoneeMint is a financial startup based in the UK, and is billing itself as the country’s first ethical digital banking platform.

The company is partnering with TruNarrative in an effort to deliver on that promise. In that regard, TruNarrative will provide MoneeMint with automated onboarding and identity verification services that make it easier for customers to sign up for new accounts. TruNarrative will also provide ongoing risk and transaction monitoring to help prevent fraud.

The full TruNarrative platform comes with a case management system that will allow MoneeMint to perform manual reviews. In doing so, it will give MoneeMint more insight into customer behavior, and allow the company to spot suspicious interactions.

MoneeMint itself is marketing its services primarily to millennials in the UK and Europe, placing a strong focus on transparency and its digital-first platform to attract new customers. The company currently supports international money transfers and offers pre-paid Mastercard and pre-paid account services through a partnership with Railsbank. However, it indicated that it is planning to round out that portfolio with new products in the months and years ahead.

“I am delighted to be working with TruNarrative to provide us with a comprehensive transaction monitoring and screening service to enable us to combat fraud and ensure that our customers’ money is kept safe,” said MoneeMint CEO Hassan Waqar.

“Our partnership demonstrates TruNarrative’s commitment to helping organisations protect their business and their customers from financial crime, whilst remaining compliant and delivering a world class customer experience,” added TruNarrative CEO John Lord.

TruNarrative recently provided onboarding and screening services for Juni, a banking startup that operates out of Sweden. Paragon Bank and ikigai, meanwhile, are some of TruNarrative’s other UK customers. Paragon is using TruNarrative technology to distribute Bounce Back Loans, while ikigai is using it to secure its own wealth management app.

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June 15, 2021 – by Eric Weiss