Leeds regtech innovator chosen by start-up bank to provide financial crime tech

A Leeds-based regtech innovator has been selected by GB Bank to deliver its onboarding and transactional risk strategies.

TruNarrative, a LexisNexis® Risk Solutions company, will deliver FCA and PRA authorised GB Bank, its 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.

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 £5m.

TruNarrative is a supplier to numerous financial institutions, and their platform enables banking, lending, ecommerce and payments firms to safely onboard customers, detect fraud and identify risk via a single API.

Edward Vaughan, head of banking for TruNarrative said: “GB Bank has a strong focus on technology and automation, and we are always on the lookout for new innovative businesses to partner with.

“I am delighted that GB Bank has selected TruNarrative for compliance and financial crime technology, and we look forward to continuing to support the growth of the Bank.”

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.

Stephen Lancaster, CEO, GB Bank, commented: “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.

“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, head of financial crime , GB Bank 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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