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ikigai integrates TruNarrative’s biometric verification platform to prevent fraud, money laundering

ikigai integrates TruNarrative’s biometric verification platform to prevent fraud, money laundering

TruNarrative has partnered with banking and wealth management app ikigai to give it a biometric platform for customer onboarding, identity verification, account monitoring, payment screening, transactional risk and ongoing risk monitoring of customers, the company announced.

The platform developed by TruNarrative uses biometric technology to prevent fraud, ensure compliance and detect risks with a single API. The RegTech platform prevents financial crime and detects money laundering through strong ID and biometric verification, according to the announcement. It includes multi-bureau eKYC and detection of PEPs, Sanctions, and fraud anomalies. It can be successfully deployed by organizations in banking, lending, online gambling, eCommerce and payment services.

ikigai is a wealth management and banking app that helps users stick to a budget and make investments at the end of the month based on their spending. Under the partnership, ikigai users benefit from the risk management capabilities.

“ikigai are innovators in the digital banking space. I am delighted that they are now one of our customers and that TruNarrative can support their onboarding processes and ongoing compliance,” said Edward Vaughan, head of banking, TruNarrative, in a prepared statement.

“We are excited to partner with TruNarrative so our customers can experience a fast and frictionless onboarding process. TruNarrative will help us ensure that our customers’ investments and accounts are safe and protected from financial crime,” said ikigai VP of Operations Ina Browning in the statement.

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