GB Bank chooses TruNarrative for customer onboarding, transactional risk, and financial crime prevention



GB Bank, a new bank focussed on getting Britain building again, has today  announced it has chosen Leeds-based regtech innovator TruNarrative, a LexisNexis® Risk Solutions  company, to provide its full suite of customer onboarding and transactional risk compliance  capabilities. 
GB Bank aims to support under-served SME property developers and is the first UK tech-driven  lender to exclusively provide SMEs, construction companies and property developers access to  finance up to £5 million.  
With a focus on supporting regional projects and businesses, GB Bank is set to lend £3 billion across  the next five years, building a £1 billion-plus balance sheet by funding construction of 20,000 homes and several million square feet of commercial space. 
TruNarrative is a trusted supplier to numerous financial institutions, being a vital part of their financial crime prevention and compliance strategies. The TruNarrative platform enables banking,  lending, ecommerce and payments firms to safely onboard customers, detect fraud and identify risk via a single API. 
TruNarrative will deliver a full suite of compliance technology, automating onboarding processes including: AML, KYC, document validation, PEPs, sanctions and adverse media checks, bank account  authentication, and full transactional risk monitoring. 
Using TruNarrative, GB Bank will be able to build a complete risk profile for each customer using transactional monitoring with risk visibility over applications, deposits, withdrawals, and  repayments. 
TruNarrative will integrate with GB Bank’s state-of-the-art technology stack, including core banking  systems, front-end user interface and reporting framework, delivering a seamless experience for both the bank’s operational teams and its customers. 
Since gaining our provisional banking licence we have been able to push forward at pace with the  bank build and that is in part thanks to the due diligence that went into researching and securing the  right technology for our needs,” said Stephen Lancaster, GB Bank’s CEO. “We didn’t want a legacy  system for GB Bank, but a bespoke and secure, customer-centred solution. TruNarrative is helping us  fulfil that need and it is great to have the team on board as a partner as we move ever closer to  launch.” 
Dan Argent, GB Bank’s Head of Financial Crime, added: “TruNarrative enables GB Bank to access a  wide range of data providers and deliver real time end-to-end decision making via a single, simple to  use platform.”

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