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UK regulatory tech firm TruNarrative has expanded its product range with new know-your-customer and anti-money laundering solution TruPortal, designed specifically for low-volume users.

Established in 2016, TruNarrative’s platform is used by major financial institutions, banks, payments services, and ecommerce businesses.

The offering uses artificial intelligence for onboarding, risk ratings and monitoring of transactions. It is delivered through the firm’s software-as-a-service risk and financial crime platform. It offers nearly 100 third-party data sources covering more than 50 countries.

“We see the professional services space as being underserved in their compliance requirements. TruPortal delivers a super low entry cost of less than £500 and no cap on users, allowing firms to rapidly obtain the information they need to compliantly onboard and engage with their clients,” Ryan Morrison, chief operating officer of TruNarrative, said.