Ikano Financial institution has chosen a brand new suite of regulatory compliance software program from UK supplier TruNarrative.
The financial institution says the choice is because of a change in the best way its dealing with new digital platforms and programmes.
TruNarrative will combine with Ikano’s new know-how infrastructure to energy a “Europe-wide” fraud prevention technique.
The Swedish financial institution is an offshoot of world retailer IKEA, and offers associate companies throughout its European markets. In February, the furnishings retailer purchased a 49% stake within the financial institution.
Ikano provides bank cards, loans and financial savings accounts, alongside white-label playing cards, gross sales finance, leasing and factoring.
The financial institution says its new system will mix monetary crime methods for a number of jurisdictions with central visibility and reporting.
Michael Southgate, Ikano world head of AML and fraud, says the deal will assist the financial institution “speed up” its world digital transformation.
He provides that “TruNarrative ensures the best ranges of economic crime danger administration” and a “flexibility to shortly reply to new and rising threats”.
“We’re delighted to be supporting Ikano Financial institution’s digital transformation,” says Edwarch Vaughn, head of banking at TruNarrative.
“We stay up for being on the coronary heart of their monetary crime danger administration processes because the financial institution continues to develop new progressive merchandise.”
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