Global: GB Bank chooses TruNarrative for regtech solutions

UK-based GB Bank has announced it has chosen regtech innovator TruNarrative to provide its full suite of customer onboarding and transactional risk compliance capabilities.

GB Bank aims to support under-served SME property developers and is providing SMEs, construction companies and property developers access to finance up to GBP 5 million. The startup bank will also provide fixed rate FSCS protected savings accounts that allow savers to complete account opening within minutes and manage their accounts online.

With a focus on supporting regional projects and businesses, GB Bank is set to lend GBP 3 billion across the next five years, building a GBP 1 billion-plus balance sheet by funding construction of 20,000 homes and several million square feet of commercial space.