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LexisNexis Risk Solutions acquires TruNarrative

LexisNexis Risk Solutions acquires TruNarrative

LexisNexis Risk Solutions has acquired Leed-based automated onboarding and financial crime platform TruNarrative.

Founded in 2016, TruNarrative enables organisations to manage the entire financial crime lifecycle within a single, unified platform that allows for automated onboarding, a dynamic risk score and transaction monitoring.

Upon completions, TruNarrative will become part of the Business Services group of LexisNexis Risk Solutions.

Rick Trainor, CEO of LexisNexis Risk Solutions, Business Services, says: "The TruNarrative platform aligns with our financial crime compliance and fraud solutions, since it allows regulated organisations, such as banks, payment companies, non-bank financial institutions and designated non-financial businesses, to orchestrate their end-to-end compliance obligations, meeting onboarding and transaction monitoring requirements with lower customer friction."

Terms of the transaction were uundisclosed, althoutgh City gossip is bandying a £130 million price tag.

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