Named Vendor of Year for contribution to financial services and accounting compliance and regulation by Compliance Reporter
BOSTON--March 12, 2008--Norkom Technologies has been named Vendor of the Year in the sixth annual Achievement in Regulatory Compliance Awards given by Compliance Reporter, a publication of Institutional Investor News. Norkom accepted the award yesterday at a luncheon during the third annual Compliance Officer Summit in New York.
Norkom, a leader in financial crime and compliance software for the global financial services industry, received strong support from both its clients and the readers of Compliance Reporter in this year’s balloting. The Norkom approaches to dealing with money laundering, fraud and risk management were all factors in the decision. Compliance Reporter cited Depository Trust and Clearing Corporation’s choice of Norkom for an effective way to track and analyze suspicious transactions, and it also noted AXA Financial’s selection of Norkom’s enterprise-wide system of risk management.
“We’re very pleased and honored that our clients and the staff and readers of Compliance Reporter have seen fit to place Norkom at the head of the 2008 field of compliance vendors,” stated Joe Friscia, vice president and general manager for Norkom in North America.
“Intelligent automation of the entire process is key to remaining in compliance and to saving money through preventing fraud. You’ve got to sift, analyze, and uncover connections between and among vast numbers of data points and bits of information, and that’s what our solutions do exceptionally well,” continued Friscia. “The banks and companies that are most effective at this have evolved beyond mere alerts and detection to the rapid investigation and strong case management that our solutions provide.”
Norkom’s Enterprise Investigation Management (EIM) solution meets the growing demand by financial institutions for enterprise-wide, risk-based approaches to compliance and crime prevention. More than half of the company’s clients deploy its software across multiple regions of the world, intelligently tracking and managing all potential financial crime events and delivering the information needed for fast, decisive action.
Norkom will be exhibiting and demonstrating its newest EIM release at the Money Laundering Alert 13th Annual International Conference in Hollywood, Florida March 17-19.
NOTES FOR EDITORS
Norkom Technologies
Norkom Technologies (AIM: NORK.L, IEX: NORK.IE), with operations across North America, Europe, and the Asia/Pacific region, is a market-leading provider of innovative financial crime and compliance solutions to the global financial services industry.
Norkom enables organizations to take intelligent action, control defenses, and evolve strategies against financial crime. By combining a unique financial crime and compliance technology platform with deep domain expertise and extensive client experience, Norkom offers a comprehensive set of solutions which can be scaled and customized to meet clients’ current and future needs – from anti-money laundering and customer due diligence to enterprise investigation of all types of fraud.
Serving clients in over 100 countries, including HSBC, Credit Agricole, Fortis, Rabobank, Standard Chartered Bank, Washington Mutual and Western Union, Norkom has a solid track record of reducing financial losses, protecting users’ reputations, improving operational efficiencies, and lowering the total cost of ownership of information technology.
Celent cites Norkom as “one of the few vendors that offer a comprehensive product suite that provides all essential components of an AML compliance solution.” Gartner notes that Norkom offers “an effective enterprise wide financial crime management solution.” In 2007, Norkom was recognized as ‘The Best Technology Solution’ in Complinet’s Annual Compliance Awards; ‘Number One for AML and Fraud’ in the OpRisk & Compliance magazine’s software rankings survey; and ‘Best AML Solution’ in the Banking Technology Reader’s Choice Awards. In 2008, Norkom was named “Vendor of the Year” in the sixth annual Achievement in Regulatory Compliance Awards from Compliance Reporter.
VP of Marketing, Norkom
Chris Belthoff, 617-235-8831
Email chris.belthoff@norkom.com
or
Graber Associates LLC
Ray Graber, 781-221-0018
Email ray@graberassociates.net