British banking and wealth management app ikigai has teamed partnered with regtech platform TruNarrative as it prepares for launch.
Founded by a pair of McKinsey associates, the app hopes to club everyday banking with an in-app wealth management platform.
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ikigai will leverage TruNarrative’s single API to track client accounts, payments and monitor risks.
The app will also enable ikigai to bolster its fraud detection and compliance process.
TruNarrative claims that its technology will also assist the British banking app in customer onboarding, identity verification, and account monitoring.
It will also be used for payment screening, transactional risk and ongoing risk monitoring of customers.
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By GlobalDataikigai operations VP Ina Browning said: “We are excited to partner with TruNarrative so our customers can experience a fast and frictionless onboarding process.
“TruNarrative will help us ensure that our customers’ investments and accounts are safe and protected from financial crime.”
Ikigai’s app enables users to set up a budget and automatically invest at every month-end depending on their spending.
Users can also monitor their spending and investments all within the single app.
Ikigai charges its customers a flat monthly fee of £20 for using the app, instead of charging a percentage fee for the management of their investments.
