Atom Bank has partnered with TruNarrative for Anti-Money Laundering transaction monitoring and financial crime customer screening.
The Durham-based mobile-only challenger bank stated that its overarching criteria for selecting a real-time AML transaction monitoring and a financial crime customer screening solution was for a platform which would support future products and safeguard against emerging risks in the market.
The key priorities included a single solution to avoid decision and operational issues with silos, with the ability to reduce and manage false positives effectively.
Helen Hassen, head of financial crime at Atom, said: “In selecting a partner for financial crime prevention there were three key focus areas: innovation, configurability and capability.
"TruNarrative provide excellent levels of configurability and flexibility in their platform, allowing Atom to respond quickly to AML/CTF threats in a controlled way,” she added.
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