Financial fraud detection firm TruNarrative has partnered with open banking data provider AccountScore to integrate open banking connectors into the TruNarrative platform.
The TruNarrative platform delivers financial crime detection, customer onboarding and transaction monitoring to financial services, e-commerce businesses and gambling operators.
AccountScore currently provides its Open Banking APIs and platform to Financial Services companies, tenant reference agencies and telecommunications companies. AccountScore also provides a consumer-facing portal allowing individuals to maintain control of the information they share with organisations.
Open banking data is permissioned access to consumer or business banking data for the purposes of risk assessment, compliance and fraud detection. This helps regulated businesses such as lenders or gaming operators comply with their obligations for onboarding and transacting with their customers.
The partnership means TruNarrative customers have access to the information they need to make affordability decisions, in real-time via the TruNarrative API.
AccountScore’s open banking data will sit within TruNarrative’s AI driven platform and allow enrichment through the various third-party verification data sources in the TruNarrative App Store, providing firms with a more complete customer view facilitating both automated and manual decisions.
Using AccountScore’s open banking data through TruNarrative will facilitate a low-friction journey for the customer, increased visibility and reduced operational cost for organisations.