The TruNarrative platform offers robust compliance, financial crime prevention and money laundering detection


ikigai to be supported by TruNarrative. (Credit: Pixabay/jma659.)

ikigai, one of the UK’s latest wealth management and banking apps, has announced a partnership with TruNarrative, a financial crime and compliance services provider.

Under the partnership, ikigai will gain full access to TruNarrative platform and its capabilities of customer onboarding, identity verification, account monitoring, payment screening, transactional risk and ongoing risk monitoring of customers to ikigai.

ikigai offers wealth management and banking services on a single app for a flat monthly fee to allow customers unlock their savings potential, while being in touch with their investments in real-time.

ikigai operations vice president Ina Browning said: “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.”

ikigai’s app helps customers to set up a budget and automatically invest at the end of the month based on their spending. By charging a monthly fee of £20, ikigai claims to not charge a percentage fee from its customers for managing their investments, unlike traditional players.

TruNarrative platform enables businesses to detect fraud using single API

By partnering with TruNarrative, ikigai is expected to gain a quick route to live, instead of building onboarding and monitoring systems from a range of point solutions.

Established in 2016, TruNarrative’s no-code platform is designed to transform fraud management, reduces risk, and streamlines KYC and AML processes.

The platform supports businesses in detecting fraud and in identifying risk using a single application programming interface (API).

TruNarrative banking head Edward Vaughan said: “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.”

The company has offices in London and Leeds, UK, and Atlanta, US.