Suffolk Building Society choose TruNarrative to enhance its customer onboarding, financial crime and fraud prevention processes



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.
The Society will be able to access the TruNarrative platform to verify a customer’s identity,
documents, selfie and liveness, as well as screen for politically exposed persons (PEPs), sanctions and adverse media status.
Through TruNarrative, Suffolk Building Society will be able to perform enhanced fraud detection checks using the Cifas national fraud database and can report fraud directly back to Cifas from within the TruNarrative interface, supporting the Cifas community and collectively helping to prevent fraud.
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.”

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