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Atom Bank Select TruNarrative for Protection Against Financial Crime

TruNarrative are proud to announce their latest partnership with the UK’s first bank built exclusively for mobile or tablet, Atom bank plc, to provide an AML transaction monitoring and financial crime customer screening and monitoring solution.  

The Durham-based bank offers Fixed Saver accounts, secured business lending for SMEs and residential mortgages. Atom’s commitment to innovation, disruption and providing a safe environment for customers has been core to their growth and ensures they remain a genuine alternative to established banks in the UK.

Atom’s desire to evolve current capabilities and work with TruNarrative represents their focus on innovation, and demonstrates an understanding that legacy and traditional services limit their disruptive capability and competitive advantage.

Regulatory changes and the digital nature of contemporary business, combined with fast evolving criminal threats, means regulated entities must be proactive in their adoption of technology and in designing process that will absolutely solve these modern day challenges. Legacy solutions and processes will not always provide the flexibility, agility and innovation required to cope with these demands. Innovation and rapid implementation are key focuses for the Atom and TruNarrative partnership.

Atom’s overarching criteria for selecting a real-time AML transaction monitoring and a financial crime (adverse media, PEP & Sanctions) customer screening solution, was for a platform which would support future products and safeguard against emerging risks in the market.

Helen Hassen, Head of Financial Crime at Atom bank said: “In selecting a partner for financial crime prevention there were three key focus areas: innovation, configurability and capability. TruNarrative demonstrated a passion for innovative financial crime prevention methods and are clearly driven by challenging legacy systems and issues in the industry.

They provide excellent levels of configurability and flexibility in their platform, allowing Atom to respond quickly to AML/CTF threats in a controlled way. It is clear that TruNarrative have already established a track record of improving financial crime prevention capabilities in their platform and their collaborative approach will add real value to our solution.”

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