Trua, a pioneer and leader in reusable, verified, digital trust credentials, has officially announced the launch of TruaBroker™, which happens to be a cloud-based platform capable of automating regulatory compliance for financial institutions, broker-dealers and Registered Investment Advisors (RIA).
According to certain reports, the stated platform will leverage Trua’s patented Continuous Evaluation platform to offer real-time monitoring, identity verification and comprehensive compliance checks against authoritative sources, including Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC) and National Futures Association (NFA).
More on that would reveal how TruaBroker banks upon proprietary algorithms and AI to deliver continuous, automated verification of broker registrations, licenses, exam credentials, and disciplinary history. This it does to embed secure onboarding into a centralized risk management system, while simultaneously providing real-time monitoring of authoritative sources to quickly identify potential compliance issues.
Beyond that, the platform’s risk detection tools also tread up a long distance to identify individuals who may pose a regulatory threat. Complementing this would be an assortment of built-in analytics that deliver actionable insights to let firms quickly verify alerts and respond against emerging issues.
“The banking-as-a-service segment experienced its most volatile year yet in 2024. The collapse of BaaS intermediary Synapse in the second quarter, mounting severe enforcement actions issued by federal regulators to BaaS banks, and an increase in banks exiting their BaaS business lines are key events that have defined this segment in 2024,” said Jordan McKee, research director at 451 Research, part of S&P Global Market Intelligence.
Talk about TruaBroker on a slightly deeper level, we begin from its promise to facilitate confident hiring. In essence, the solution seamlessly confirms active registration status with the SEC, FINRA, and other regulators, so to give teams peace of mind when bringing in licensed professionals.
Next up, there is the potential for preventing identity missteps. Here, by matching names across FINRA BrokerCheck, the SEC Investment Advisor Public Disclosure (IAPD) and more, TruaBroker guides teams to stop fraud before it escalates into something big.
Another detail worth a mention is rooted in the solution’s focus on eliminating licensing gaps. We get to say so because TruaBroker ensures every license, whether it’s related to broker, advisor or otherwise, is current and compliant, helping teams stay focused on growth, not paperwork.
Alongside that, the platform in question can also streamline qualification checks. Thanks to instant verification of exams like Series 7 and Series 63, TruaBroker empowers teams to move faster on offers and onboarding.
“We expect to see all market participants deepen technology and operational investments in compliance and governance processes to stay out of the guise of regulators. The growing spotlight on compliance will leave the BaaS segment in a more sustainable position, but we see 2025 as the year where many market participants work to regain their footing,” said McKee.
Moving on, TruaBroker can further surface hidden red flags, thus making up a mechanism where the solution proactively alerts teams to civil actions, customer complaints, and disclosure events that could pose legal or reputational risks.
Hold on, we still have a few bits left to unpack, considering we haven’t yet touched upon the prospect of protecting users against insider threats. With a better knowledge of past disciplinary actions, TruaBroker helps teams avoid costly missteps and build trust on every hire.
We also haven’t touched upon the given platform’s vision of a clear and transparent courtroom. This TruaBroker is able to achieve on the back of visibility into arbitration outcomes.
Rounding up highlights would be solution’s bid to support regulatory readiness at all times, as TruaBroker aligns screening practices with NFA, SEC, and state-level rules, to aid teams in the context of tightening Know Your Customer (KYC)/Anti-Money Laundering (AML) controls and reduce audit risk.
“Manual compliance is time-consuming, error-prone and just not practical anymore for today’s financial institutions,” said Raj Ananthanpillai, founder and CEO of Trua. “TruaBroker takes the pressure off by automating the entire compliance process—from onboarding to ongoing monitoring—so firms get real-time alerts, clear insights and full visibility without needing a heavy lift from IT. It’s a smarter way to manage risk.
