| Norkom named ‘best technology solution’ at Complinet’s Annual Compliance Awards | | Print | |
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Presenting the award during a ceremony at London’s Dorchester Hotel on 7 February 2007 was David Kenmir, Managing Director for Regulatory Services at the UK’s Financial Services Authority.
Greg Kilminster, Editorial and Events Director at Complinet said: “Our panel of experienced judges cited the following reasons for Norkom award – ‘not only is its technology groundbreaking, but it provides a firm foundation for a consistent, measured approach to compliance challenges, helping to avoid expensive technology proliferation and contain costs’.
“Our judging process considered extensive feedback from Norkom’s client base including accolades relating to its cross-continent capabilities such as "it was vital for us to find a single solution scaleable and flexible enough to work in all geographies and regulatory environments yet able to support a centralised structure. Norkom has achieved that in a way that, we believe, no other solution could.”
“The award was open to organisations that have shown unique, cost-effective and practical solutions to compliance issues faced by the business – Norkom clearly demonstrated this and the feedback from their clients fully supported this award win.”
Accepting the award on behalf of Norkom was chief commercial officer, Liam Griffin, he commented: “We are truly delighted to be awarded Best Technology Solution and very proud that such endorsement has come directly from our clients and respected industry experts. Our mission is to ensure that we deliver value to our clients and we work in close partnership with them to really understand their needs and deliver the infrastructure for an end-to-end financial crime and compliance strategy. This approach is proven to reduce the total cost of ownership and to protect clients from large-scale technology investments with every new type of regulation or crime.”
Norkom was nominated for the Complinet award by financial services institutions including KBC Bank which, since 2002, has used the company’s solutions to manage AML investigation and compliance. It has subsequently extended its use to embrace its fraud detection and prevention operations.
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The award, judged by leading industry experts, recognises the uniqueness of Norkom’s financial crime and compliance software suite, which allows financial institutions to detect, investigate and prevent multiple types of crime, from money laundering to fraud via a single technology platform.