Foreign exchange and international payment firm RationalFX has chosen TruNarrative’s RegTech platform to deliver an improved customer journey and reduce onboarding time to under 5 minutes.

Established in 2005, RationalFX has facilitated over $12bn of international payments for their 180,000 registered clients across over 170 countries.

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TruNarrative’s SaaS platform enables businesses to detect fraud and identify risk via a single API.

Its technology is used across the globe to strengthen fraud detection and compliance in a range of industries including, banking, lending, online gambling, eCommerce, and payment services.

The goal is to improve efficiency, match rates, and onboarding experience

Rational FX went to market for a solution that could consolidate its group-wide customer onboarding, compliance, and financial crime prevention strategy.

The company required a comprehensive and agile onboarding and compliance platform capable of multiple customisable journeys and workflows.

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Its goal was to drive business efficiency, improve match rates and provide its customers with a frictionless onboarding experience whilst remaining compliant with current and future regulation.

The partnership with TruNarrative will allow Rational FX to verify the identity of new customers from across the world, performing IDV (Identity Verification), document verification, selfie, and liveness checks.

Integrating with the group’s existing tech stack, including its core platform and front-end systems, TruNarrative will deliver RationalFX the ability to efficiently make informed customer acquisition and business risk decisions with the full customer picture in view.

TruNarrative Appstore to monitor RationalFX’s business and clients

RationalFX are now able to access the TruNarrative Appstore which delivers the range of data sources it needs to take on and monitor its business and private clients across the international markets it operates in.

The TruNarrative platform allows the team at RationalFX to build different on-boarding processes for multiple jurisdictions and rapidly react to risk, market, and regulatory changes from within an intuitive user interface.