The alliance comes as part of TrueNorth’s strategic expansion into the banking and credit union sectors and underscores its commitment to intertwining regulatory compliance with its financial technology solution development in a simplified manner.
Based on the information detailed in the press release, by ensuring that regulatory protocols are embedded from inception to product delivery, TrueNorth's clients are enabled to operate with full confidence in their systems’ integrity and security.
With a mission to revolutionise the financial technology landscape, the collaboration with RADD is believed to help enhance TrueNorth’s reputation in delivering trusted solutions, as per Alex Gonikman’s statement, TrueNorth CEO and Co-Founder. Per the official, the company’s innovative approach combined with RADD’s compliance expertise helps ensure that its products are not only advanced in capability but also in compliance, a synergy considered vital for TrueNorth and its clients alike.
Further commenting on the announcement, Radhika Lipton, RADD CEO advised that RADD prioritises the establishment of a resilient regulatory compliance programme that helps minimise exposure to compliance-related risks. The spokesperson believes that the partnership with TrueNorth helps extend this expertise to financial services companies while simultaneously showcasing the enterprise’s commitment to compliance.
The press release further highlights that the collaboration with RADD amplifies the value proposition for TrueNorth clients, looking to ensure they are provided with a synthesis of innovation and rigorous compliance in every solution.
A financial technology services company, TrueNorth specialises in enabling digital banking solutions, having built 45 original enterprises, 120 digital transformations, and 40 product revamps.
Its most recent development was marked by the August 2023 equity investment from US-based LoanPro aimed at enabling further innovation in lending. The financing solidified the pre-existing collaboration between the companies, supporting product development and value delivery to their customers in the financial services industry.
In March 2023, it partnered with UK-based security and transaction monitoring solution provider Sumsub to help banks expand and digitise their services. Both companies focused on providing banks, fintech platforms, neobanks, financial institutions, and payment providers in the US and abroad with a new suite of digital solutions that meet regulatory requirements and compliance policies while prioritising operational efficiency improvements and increasing organisations’ development process.
What is more, in November 2022, it teamed up with identity verification provider Veriff to enable its clients access to the latter’s IDV solutions for digital transformation initiatives.
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