Download Brochure

Norkom’s experience in AML and Compliance expands to over 100 financial crime and compliance projects globally addressing the requirements of different regulators around the world, including

• Customer due diligence and risk assessment
• Sanctions screening
• Payment filtering
• Enterprise Investigation Management.

Benefits of the Norkom AML Solution

• Ready-to-deploy, industry-specific packaged AML solutions maximize the potential for return on investment
• Global view of financial crime and enhanced investigator efficiency thanks to integrated solutions within the Enterprise Investigation Management (EIM)
• Lower cost of ownership – ability for business users to configure and fine-tune detection strategies
• Accurate and relevant MIS to compliance managers and executives.

Norkom’s AML solutions for Financial Institutions manage all aspects of the anti-money laundering process, from account on-boarding to disclosures in a single, fully-integrated platform.

• Transaction monitoring: detects and profiles customer and transaction activity across all products and channels
• Automated risk assessment: evaluates geography, product and business type, coupled with an evaluation of transactions, behavior and static information
• Know Your Customer (KYC) / Customer Due Diligence (CDD): manages the customer on-boarding process through a defined sequence of steps in a due diligence workflow
• Link Analysis: discovers hidden relationships among transactions, customers, accounts, alerts, cases, products and channels
• Integration with legacy systems and databases: built-in connectors accelerate integration with disparate existing systems and data sources
• AML Investigative Management: automatically triages AML alerts and provides investigative tools to manage alerts through pre-defined workflows
• Sanctions and PEP Screening: matches names and addresses to a range of internal and external lists using Norkom’s advanced Watch List Management  technology
• Transaction & Payment Filtering: identifies financial transactions throughout your organization involving persons or entities contained on watch lists
• e-Filing of regulatory reports: automates the creation, population and filing of reports in many national and international regulatory formats.

AML for Retail Banking

Norkom’s AML Solution for Retail Banking helps financial institutions to reduce exposure to money laundering and terrorism financing activities. Our AML Solution for Retail Banks monitors and creates alert for products, segments and volumes that are specific to Retail Banking.

AML for Correspondent Banking

In light of recent terrorist attacks and events, increasing pressure from regulators in different jurisdictions requires an enhanced due diligence process for correspondent banks that is suitably designed to detect unusual and suspicious activity, not only of its own customers  but also those of other banks’ in a process known as KYCC (Know Your Customers’ Customers). Norkom’s AML solution for Correspondent Banking includes detection strategies, investigation processes and KYCC models specifically designed for correspondent banks.

AML for Private Banking

Norkom’s AML Solution for Private Banking is designed to equip institutions to detect and effectively manage the threat of money laundering. Private banking services are appealing to legitimate customers with substantial assets and relatively complex financial affairs. However, by their very nature, services such as the facilitation of cross-border transactions, expertise in offshore investment and a tradition of discrete customer service are examples of some aspects of the service that can attract  a high level of money laundering risk exposure within the organization.

AML for Insurance

Guidelines and regulation on anti-money laundering programs for insurers have been issued and enforced in many different jurisdictions across the globe. Norkom enables insurance companies to implement insurance-specific AML policies, detection strategies and KYC norms for insurance products.

AML Knowledge and Adaptability – Future-proofing your organization

All Norkom AML solutions come with a wide range of pre-defined content workflows and investigative paths. Your organization gets the benefits of the deep domain experience that Norkom has developed through extensive AML deployments around the world.

Each Norkom AML deployment includes configuration tools and engines that enable business users to edit and adapt the detection and investigation logic to reflect changing requirements. This capability lowers the total cost of owning and managing your IT infrastructure and future-proofs you from changing regulations.

<< Back To Solutions Overview