New British support bank, GB Bank, has partnered with TruNarrative to boost customer onboarding and improve transactional risk compliance on its app.
This newly formed partnership allows GB Bank to continue its venture to support Small and Medium Enterprises (SMEs) with further support for loans and safer payment transactions.
GB Bank plans to lend £3 billion to support regional projects and businesses in the next five years, as well as funding construction on 20,000 homes and more than a million square feet of commercial space.
“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,” stated Stephen Lancaster, GB Bank’s CEO.
“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.”
Not only will the collaboration help deliver user experience, TruNarrative help to deliver financial crime prevention and compliance strategies.
GB Bank customers can be protected by AML, KYC, document validation, PEPs, sanctions and adverse media checks, bank account authentication, and full transactional risk monitoring.
“GB Bank has a strong focus on technology and automation, and we are always on the lookout for new innovative businesses to partner with,” stated Edward Vaughan, Head of Banking for TruNarrative.
“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.”