# Mercury FX boosts financial crime management capabilities with TruNarrative platform investment Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2020-03-05 Category: FINANCE Category URL: https://financedigest.com/category/finance Meta Title: Mercury FX partners with TruNarrative for streamlined compliance Meta Description: Global currency specialist Mercury FX partners with TruNarrative to streamline KYC checks and compliance processes, improving risk decisioning and case URL: https://financedigest.com/mercury-fx-boosts-financial-crime-management-capabilities-with-trunarrative-platform-investmenthtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd140218-7-1736838937903-compressed.jpg) _By **Mike Harriss,**,Head of Commercial Channels at TruNarrative,_ London-headquartered global currency specialist Mercury FX has invested in cutting-edge platform from RegTech firm TruNarrative, to enhance its customer onboarding processes, regulatory compliance and financial crime prevention strategy. As a regulated firm, Mercury FX is required to perform a multitude of Know Your Customer (KYC) checks on companies and individuals they work with. Being a global business, Mercury [must be able to onboard and monitor customers](https://www.financedigest.com/lost-in-translation-why-banks-must-learn-the-language-of-their-customers.html "Lost in Translation: Why Banks Must Learn the Language of their Customers") from all over the world. ![Mike Harriss](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/mike-450x300-1736838937911-compressed.jpg) Mike Harriss Needing to automate and organise these checks whilst maintaining compliance and delivering a low friction on boarding experience, Mercury went to [market for a technology solution](https://www.financedigest.com/grain-and-cereal-crop-market-novel-technological-solutions-will-create-lucrative-growth-opportunities.html "Grain And Cereal Crop Market : Novel Technological Solutions Will Create Lucrative Growth Opportunities"). Using TruNarrative’s single Application Programming Interface (API) and portal, Mercury FX can adapt its [onboarding processes](https://www.financedigest.com/fraud-protection-why-customer-onboarding-requires-digital-identity-processing.html "Fraud Protection: Why Customer Onboarding Requires Digital Identity Processing") without the need for further integrations or resources. This allows the firm to easily tweak its strategy inhouse to reduce false positives, while simultaneously improving risk decisioning, [reporting and case management](https://www.financedigest.com/treasury-and-risk-management-application-market-to-bring-in-revenue-of-us-7-1-bn-by-2028-comprehensive-research-report-by-fmi.html "Treasury and Risk Management Application Market to bring in revenue of US$ 7.1 Bn by 2028 – Comprehensive Research Report by FMI") visibility. The [global currency organisation is also be able to maintain a central audit trail of all activity related to a client’s individual account](https://www.financedigest.com/top-5-players-to-account-for-45-of-global-consumer-appliance-coatings-market-share-through-2031.html "Top 5 Players to Account for 45% of Global Consumer Appliance Coatings Market Share Through 2031") – allowing Mercury FX to operate with maximum transparency. Commenting on the partnership, Mike Harriss, Head of Commercial Channels at TruNarrative, said: “Mercury FX is a prime example of why we built TruNarrative – a truly [global business](https://www.financedigest.com/global-sulfate-free-body-wash-market-business-opportunities-current-trends-growth-market-forecast-global-industry-analysis-by-2029.html "Global Sulfate Free Body Wash Market: Business Opportunities, Current Trends, Growth, Market Forecast & Global Industry Analysis By 2029") with a broad requirement for bespoke customer-verification strategies. “We are pleased to deliver a solution that allows them to reduce the volume of manual compliance tasks, while also maintaining a low-friction [customer](https://www.financedigest.com/solving-the-customer-experience-conundrum-how-fs-organisations-can-use-data-to-level-up.html "Solving the customer experience conundrum: How FS organisations can use data to level up") experience.” _Alastair Constance, Founder and Director at Mercury FX: “We’re passionate about challenging the dated and costly [currency exchange](https://www.financedigest.com/currency-exchange-how-to-find-the-best-rates.html "Currency Exchange: How to Find the Best Rates") services mainstream banks offer._ _“We [provide an efficient](https://www.financedigest.com/new-isla-standards-provide-the-foundation-for-resource-optimisation-efficiency-and-risk-mitigation.html "New ISLA Standards Provide the Foundation for Resource Optimisation, Efficiency and Risk Mitigation") and transparent alternative to both businesses and consumers, and in the TruNarrative platform, we’ve found a solution that aligns with and further strengthens this ethos._ _“Having all compliance, verification and financial crime detection in one place helps us to streamline our processes, and the no-code interface means that we can edit our financial crime [strategy](https://www.financedigest.com/9-issues-in-corporate-finance-and-strategies-to-overcome-them.html "9 Issues in Corporate Finance and Strategies to Overcome Them") at any time, without a reliance on development resources.”_ --- This blog is powered by Superblog. 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