Norkom to Showcase Award-Winning Financial Crime Prevention Solutions at IBM’s Information on Demand Conference
Featuring Capabilities for Gathering and Analyzing Anti-Fraud and AML Information across the Enterprise
Las Vegas – October 27, 2008 - Norkom Technologies, the leading provider of financial crime and compliance software to the global financial services industry, today announced its participation (Booth S36) at IBM’s Information on Demand (IOD) 2008 global conference at the Mandalay Bay in Las Vegas, October 26 – 31.
Norkom will be demonstrating its latest generation of financial crime prevention products including the market-leading Enterprise Investigation Management (EIM) solution. By tracking and managing all potentially harmful financial risk events — from any source or region — EIM delivers to users the information they need for early detection of financial crime and the tools for fast, decisive action.
Last month Norkom and IBM announced an agreement to develop innovative solutions that will combine IBM’s industry expertise with Norkom’s Financial Crime and Compliance solutions. The agreement spans software development, marketing, sales, and the alignment of research and development around the IBM software portfolio, including integration of key capabilities of IBM InfoSphere Entity Analytic Solutions (EAS) within the Norkom product portfolio.
Faced with fraud, money laundering, and terrorist financing, global financial organizations need to ensure their asset bases are not compromised. Understanding the full backgrounds of prospective clients is essential. IBM InfoSphere Entity Analytic Solution’s unique identity disambiguation capability enables financial institutions to recognize and mitigate the incidence of fraud, threat, and risk. EAS provides insight on demand, and in context.
“As banking technology has advanced, so has the level of criminal sophistication,” says Rob Thomas, vice president, IBM Information Management. “Norkom’s Identity Resolution solution, embedded with IBM’s Entity Analytics software, delivers a comprehensive solution providing powerful identity recognition that helps reduce risk by protecting companies from sophisticated internal and external threats.”
Norkom’s powerful investigative platform for screening and reporting on high volumes of transactions is in use at major financial institutions including: AXA Financial, Bank of Montreal, DTCC, Euroclear, HSBC, and Standard Chartered Bank. Norkom’s technology gives financial organizations the ability to analyze and investigate high-volume financial information in a holistic manner, identifying suspicious transactions in near real-time, from anywhere in the enterprise.
“Norkom has a history of assisting clients to solve challenging information gathering, analysis, and assimilation problems across their companies. Our clients can retrieve data and turn it into meaningful information that addresses many of the topics and issues on the IOD conference agenda,” said Joseph Friscia, general manager and EVP of Norkom’s business in the Americas. “Norkom’s presence will provide IOD attendees with an opportunity to discuss their needs for scalable financial crime solutions with an industry leader.”
Norkom’s solutions 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.
Norkom’s accolades include “Best Technology Solution” in Complinet’s 2007 compliance awards; “Number One for AML and Fraud” in OpRisk & Compliance magazine’s software rankings survey; “Vendor of the Year” by Institutional Investor News ARC Awards, and “Best AML Solution” in the Banking Technology Awards.
To schedule a meeting at the Information On Demand conference or to arrange for a demo, email Chris Belthoff (chris.belthoff@norkom.com) or call (617)235-8831.
US Media contacts:
Chris Belthoff, VP of Global Product Marketing, Norkom Technologies
Tel: +1 617 235 8831
Email chris.belthoff@norkom.com
Ray Graber, Graber Associates LLC
Tel: +1 781 221 0018
Email ray@graberassociates.net
About Norkom Technologies (www.norkom.com)
Norkom Technologies (AIM: NORK.L, IEX: NORK.IE) enables financial organizations to take intelligent action, control defenses, and evolve strategies against fraud, money laundering, and other types of financial crime.
By combining a unique investigative technology platform with deep domain expertise, Norkom has established a solid track record of reducing financial losses, protecting users’ reputations, improving operational efficiencies, and lowering the cost information technology.
Norkom serves clients in over 100 countries, including AXA, HSBC, Credit Agricole, Fortis, Rabobank, and Standard Chartered Bank.