Norkom Technologies to Support Enterprise-Wide Financial Crime and Compliance Strategy for AXA Financial



    BOSTON, Oct. 22 /CNW/ - Norkom Technologies today announced that AXA
Financial, one of the world's premier financial services organizations, has
adopted Financial Crime and Compliance software from Norkom Technologies to
support its enterprise-wide anti-money laundering compliance strategy across
diversified business lines throughout the U.S.
    AXA Financial will use Norkom's Anti-Money Laundering and Watch List
Management software to detect, investigate, manage and report suspicious
activity. The solution provides advanced detection of suspicious activity
using best-in-class analytics and comprehensive case management capabilities
that deliver greater efficiencies to the investigation process, significantly
reducing costs and improving productivity.
    The system will also screen all transactions against industry watch lists
to guard against business being carried out with high risk entities such as
known terrorists, criminals and politically exposed people.
    Recent changes have intensified the regulatory landscape for financial
organizations providing life and annuity insurance products, requiring
organizations to step up the introduction of policies, procedures, and
controls to deal with money laundering risks. The penalties can be severe for
organizations who do not implement effective programs to detect and report
money laundering activity. In addition, financial organizations are also faced
with the challenges of dealing with rapidly increasing levels of fraud and
must find a way to deal with both compliance and fraud concerns in a
comprehensive manner.
    "We are delighted to enable AXA Financial to improve the effectiveness
and efficiency of their money laundering investigation units, and welcome them
to our growing list of Insurance clients who recognize the completeness of the
Norkom solution," says Norkom's CEO, Paul Kerley. "AXA Financial's selection
of Norkom further demonstrates our leadership as the 'gold standard' choice
for implementing an enterprise-wide Financial Crime and Compliance solution."

    Notes to Editors

    Norkom is a market-leading provider of innovative financial crime and
compliance solutions to the global financial services industry. Our software
has been described as 'outclassing our competitors' by the analyst group,
Celent, recognized as 'The Best Technology Solution' in Complinet's 2007
compliance awards and the number one for AML and fraud in the OpRisk &
Compliance magazine.
    We enable organisations to take intelligent action, control their
defences and evolve their strategies against financial crime. By combining our
unique financial crime and compliance technology platform with our deep domain
expertise and extensive client experience, we offer a comprehensive set of
solutions which can be scaled and customized to meet your current and future
needs - from anti-money laundering and customer due diligence to enterprise
investigation of all types of fraud.
    Used by clients in over 100 countries, including HSBC, Credit Agricole,
Fortis, Rabobank, Standard Chartered Bank, DTCC and Western Union, Norkom is
proven to reduce financial losses, protect reputation, improve operational
efficiencies and lower the total cost of ownership. Norkom has operations
across North America, AsiaPac and Europe.
    http://www.norkom.com





For further information:

For further information: Norkom media contact: Hilary Duffy, Norkom
Technologies, Tel: +353-85-121-9414, hilary.duffy@norkom.com or Chris
Belthoff, Norkom Technologies, Tel: (781) 858-1444, chris.belthoff@norkom.com

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NORKOM TECHNOLOGIES

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