Twenty-seven years ago, in November 1996, I incorporated Truth Technologies in Virginia. It resulted from professional experiences as a graduate of the Belgian Military Academy, Director of the Luxembourg Board of Economic Development, and spokesman for the European Union at the United Nations. It revealed insights into the world of financial services and their abuse by criminals, corruption, drug and human trafficking. This was also a time of emerging laws and regulations, such as the US Banking Secrecy Act (BSA) and the Financial Action Task Force (FATF). It became evident that professionals required to adhere to the new laws and regulations would urgently require tools and systems for handling the complex tasks.
A yearlong feasibility study had produced a blueprint for a solution titled MLDS/FDS, or Money Laundering Detection System and Fraud Detection System. The compliance tool, MLDS, was a trailblazer, a bleeding edge technology before its time. MLDS was brought to market under the name Sentinel. It was envisioned as a business-to-business (B2B) service provided through a Software as a Service (SaaS) model. This predates the official term ‘SaaS,’ coined later in 2005 – almost a decade after the innovative introduction of Sentinel.
Today, Truth Technologies is headquartered in Naples, Florida. Its flagship compliance application, Sentinel, serves the needs of clients small and large worldwide. Truth Technologies is a well-established leader in the FinTech and RegTech worlds. Over 15,000 users throughout the 24 time zones have been trained on Sentinel.
Sentinel is entirely language-neutral and data-agnostic. These features made it a versatile and agile product from day one. Initially, financial institutions used Sentinel for their AML/KYC compliance needs. Over time, Sentinel users have expanded into the corporate world, governments, law firms, medical research, and online retail sales. Our clients’ growing needs can necessitate sanctions screening, enhanced due diligence (EDD), reporting, client onboarding, and vetting individuals, partners, vendors, and beyond. Duties that Sentinel has evolved to meet.
We’re excited to introduce our latest software offering, which builds upon the strengths of our classic application. The new cloud-based compliance solution is dubbed Sentinel Compliance Platform (SCP). It coexists with our traditional workhorse Sentinel, which has taken on Sentinel Classic as its new name.
Truth Technologies is looking forward to its new developments in 2024. Together with enhanced compliance capabilities, we’ll increase our presence in all international markets. We will incorporate new advancements from our development team into SCP, complemented by service offerings from our partners. Here is a glimpse of the project below:
Along with our revolutionary technology, Truth Technologies has incorporated translations of our commercial website. Here is our website in several key world languages:
Truth Technologies couldn’t write this story without our customers throughout all continents. We appreciate the trust you’ve placed in our company throughout the years. You can count on Truth Technologies’ dedicated, enthusiastic team to keep you protected.