Cardiff-based FinTech company Sonovate is on a mission to strengthen its customer onboarding processes. To succeed, it recently turned to TruNarrative, the RegTech company.
Sonovate is supporting the gig economy by helping businesses working with temporary workers, including recruitment agencies, consultancies and on-demand marketplaces, to grow through smart, fast and flexible finance.
Since launching in 2011, it has provided £1bn to growing businesses, funding invoices across 39 countries.
To further strengthen its abilities to service even more clients, Sonovate signed up to use TruNarrative’s single application programming interface and portal. This has enabled the firm to adapt its onboarding processes without the need for time consuming processes or resources.
“We are pleased to deliver a solution that allows Sonovate to achieve its growth aspirations in existing and new markets,” said Mike Harris (pictur, head of commercial channels at TruNarrative. “The platform enables the organisation to scale up its volumes, seamlessly onboard new customers without increasing operational costs and maintain the highest levels of compliance and anti-financial crime controls.
“Like many growing businesses, Sonovate initially employed a manual process – requiring employees to review hard copy documents using six different verification systems. The TruNarrative platform will allow Sonovate to automate its risk processes from, in extreme cases, a number of days down to minutes, or even seconds.”
Other TruNarrative have previously signed partnerships with companies like Atom bank, Bleckwen, Tally and Mercury FX.
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