Today’s financial services organizations face unprecedented challenges with financial crime costing an estimated $19 billion in losses annually and the operational costs of compliance growing at a rate of 43% year-on-year, placing even more pressure on already stretched budgets and systems.

Fragmented IT solutions and siloed information conspire to create a vacuum in management information, leaving financial institutions exposed and slow to respond to organized criminal attacks across different channels (internal, branch network, online, ATM etc.). This, in turn, leads to mounting reputational risk and financial losses for financial institutions on a global level.

As partners in the ISV Advantage for Industries Alliance, Norkom and IBM are helping global financial services organizations to adopt a comprehensive risk-based approach to financial crime and compliance management. With Norkom and IBM, financial organizations can maintain their competitive edge, comply quickly and affordably with regulatory requirements and defend their organization against operational and reputational risk.

All Norkom solutions are underpinned by a common technology platform which has been optimized for an IBM architecture strategy, enabling clients to meet current and future needs via a single infrastructure, and protecting them from the burden of large scale technology investment in the future. Clients can implement a single solution to meet an immediate business need, and easily add other solutions as their crime and compliance strategy evolves.

This overarching infrastructure also respects the global environment in which our clients operate. It recognizes their need to take an enterprise wide approach to crime and compliance, while respecting the regional variations in regulatory and business requirements.

The Norkom / IBM alliance is built on our combined deep market understanding, a single unifying technology platform and our long term approach to client relationships – based on providing them with constantly evolving business solutions rather than isolated technology sales.