Analyst Views

The importance of tackling financial crime and compliance, and Norkom Technologies' standing as a leading proponent and provider in this field, are increasingly recognized by analysts and industry commentators.

Norkom continues financial crime-fighting market consolidation

Gartner The anti-money-laundering and fraud detection market is consolidating. The Norkom Group's purchase of Digital Harbor blends two strong vendors into an effective enterprise-wide financial crime management solution. Read more...

Celent says Norkom leads AML software market

Celent "Norkom is one of the few vendors that offers a comprehensive product suite that provides all essential components of an AML compliance solution, including transaction monitoring, watch list filtering, KYC, case management, analytics, and reporting."

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Butler audit praises Norkom's software suite

Butler Group

"Norkom’s Financial Crime and Compliance Product Suite (FCCPS) is a comprehensive set of tools using a common platform for the identification, investigation, and resolution of transactions that may be fraudulent or related to other criminal activity."

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Untold market damage from 'money launderer' label

Gartner "Few things can be as damaging to a bank's competitive position as being branded an organization that has laundered money for organized crime, terrorists, war criminals or narcotics traffickers."

8 times ROI delivered by fraud technology investment

TowerGroup "For every $1 spent on fraud management technology FSIs may reduce fraud losses up to $8."

Dangers clear on failing to manage financial crime risk

Gartner "Financial Services organizations that do not proactively manage financial crime risk across their organizations have an 80% probability of experiencing a higher level of customer loss, increased operational costs and lower credit ratings by 2007 than those who do."

Technology cuts fraudulent claims by 40%

Gartner "Fraud Detection and Prevention technologies can reduce fraudulent claims by an estimated 40%"

Call for insurers to adopt automated fraud detection

Gartner “With insurance fraud making headlines throughout the U.S., insurers must abandon manual techniques and adopt these automated fraud-detection technologies.”

Securities processing sector seeks out AML solutions

TowerGroup “Whereas we saw an early uptake of AML technology in the (retail) banking payments space, we now see that the convergence of the increase in crime rates and the growing demands of compliance regulations is driving the securities processing industry as well to seek out and implement technology solutions, such as AML, that can help them stop the haemorrhaging of losses and meet the challenges of industry regulations."

Internet crime boosts demand for anti-fraud technology

Gartner “A rash of sophisticated cyber crimes and identity-theft-related fraud is creating a demand for next-generation fraud detection and prevention systems.”

Fraud reduction at the forefront in 2006

Gartner "Monetary losses and reputation risk concerns will move fraud reduction efforts to the forefront in 2006. Remediation efforts and expenses will unfold over multiple years and impact business practices. This report, using vendor-supplied data, details functionality offered by leading anti-fraud vendors."

Insurers gain control and protection through fraud detection

Gartner ”Fraud-detection and analysis tools target insurers that seek greater protection and control of claim payouts. Insurers that adopt such tools will boost their bottom lines and better control premium increases.”