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Leading Foreign exchange and Payment firm chooses RegTech platform to deliver a frictionless customer journey and reduce onboarding time to under 5 minutes.  

29th June 2021 – London/ Leeds UK: TruNarrative has been chosen by the Rational Group, home of  the cutting-edge FX and payment companies RationalFX and Xendpay, to boost its customer  onboarding and identity verification processes and deliver a seamless customer experience. 

Established in 2005, RationalFX is a market leading foreign exchange and international payments  company. RationalFX has facilitated over $12 billion of international payments for their 180,000+  registered clients across over 170 countries. 

TruNarrative’s SaaS platform enables businesses to detect fraud and identify risk via a single API. Their  technology is trusted across the globe to strengthen fraud detection and compliance in a range of  industries including, banking, lending, online gambling, eCommerce and payment services

Rational FX went to market for a solution that could consolidate their group-wide customer  onboarding, compliance and financial crime prevention strategy. 

They required a comprehensive and agile onboarding and compliance platform capable of multiple  customisable journeys and workflows. Their goal was to drive business efficiency, improve match rates  and provide their customers with a frictionless onboarding experience whilst remaining compliant  with current and future regulation.  

The partnership with TruNarrative will allow Rational FX to verify the identity of new customers from  across the world, performing IDV (Identity Verification), document verification, selfie and liveness  checks.  

Integrating with the group’s existing tech stack, including their core platform and front-end  systems, TruNarrative will deliver RationalFX the ability to efficiently make informed customer  acquisition and business risk decisions with the full customer picture in view. 

RationalFX are now able to access the TruNarrative Appstore which delivers the range of data  sources they need to take on and monitor their business and private clients across the  international markets they operate in. 

The TruNarrative platform allows the team at RationalFX to build different on-boarding  processes for multiple jurisdictions and rapidly react to risk, market and regulatory changes  from within an intuitive user interface. 

“We love to partner with firms who go above and beyond to produce a great experience for  their customers.” John Lord CEO at TruNarrative “We look forward to delivering RationalFX our  technology to help them take on and manage customers in a safe and compliant way”. 

“We always want to make our client experience the best it can be. Integrating with TruNarrative  reduces the time clients spend onboarding to less than 5 minutes, enabling them to take  advantage of our competitive rates on weekends and out of office hours, all whilst providing us  with a scalable onboarding solution with enhanced fraud detection measures.” David Morgan, 

Product Owner at RationalFX “This partnership will be key as we look to enter a new hyper  growth mode and take the business to the next level. Watch this space.”

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