LexisNexis acquires onboarding and risk platform TruNarrative
LexisNexis Risk Solutions, part of the Relx Group, has acquired cloud-based orchestration platform TruNarrative in a deal reported at £130 million.
Founded in 2016 and based in Leeds, UK, TruNarrative provides automated onboarding, dynamic risk scores, and transaction monitoring.
It says its platform allows for no-code configuration and quick integration through an API, and a single view of customer risk.
TruNarrative is set to become a part of the business services operation at LexisNexis, with City AM reporting the £130 million price tag.
“Organisations are seeking solutions that help them comply more easily with evolving regulations and prevent financial crime,” says Rick Trainor, CEO of LexisNexis Risk Solutions.
He says the new acquisition aligns with his firm’s financial crime compliance and fraud solutions.
Trainor adds: “It allows regulated organisations to orchestrate their end-to-end compliance obligations, meeting onboarding and transaction monitoring requirements with lower customer friction.”
John Lord, CEO and founder of TruNarrative, says his team have “worked tirelessly” over the past four years.
He says the capabilities and the team at LexisNexis made the firm “an obvious choice” when it comes to the development of the company.