Norkom Outclasses its Anti-Money Laundering Competitors Says Celent

Norkom Outclasses its Anti-Money Laundering Competitors Says Celent

September 26, 2006

    SYDNEY, Australia, Sept. 26 /Xinhua-PRNewswire/ -- A
new report by Celent, an international research firm
serving the financial services industry, finds that
Norkom's anti-money laundering solution outclasses its
competitors' offerings in the global market place.

    The report, which is considered to be the most
comprehensive guide to the AML software market available,
evaluates 19 vendors, comparing them across a range of
comprehensive criteria and finds the offering from Norkom
Technologies leads the market. A market which, according to
the report will increase to US$375 million by 2009, with
spending growing at a compound annual growth rate of 5.9%.

    Report author Neil Katkov describes Norkom as:
"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."

    Celent was particularly impressed by Norkom's focus on
analytics, listing the company as the only vendor that
combines an extensive library of 200 packaged detection
scenarios with advanced analytics, profiling and neural
networks to ensure the accuracy of alerts, efficiency of
investigative resources and ongoing refinement of detection
scenarios. Norkom's anti-money laundering solution has been
proven to improve the accuracy of detection by 200% and
reduce the operational cost of investigation by up to 98%.

    Norkom's AML solution forms part of its fully
integrated financial crime software suite which is
underpinned by a common technology platform enabling
clients to detect multiple types of crime -- from money
laundering to fraud. It provides the infrastructure
required for an end-to-end financial crime strategy
reducing the total cost of ownership and protecting clients
from the need for large-scale technology investments with
every new type of regulation or crime.

    Celent's high evaluation for the Norkom solution is
echoed by the company's success in the market place.
Norkom's solution are used by clients in over 100 countries
across the world including organisations such as HSBC,
Credit Agricole, Travelex, Bank of Montreal, Rabobank, The
New York Clearing House, Standard Chartered Bank, Visa,
Natexis Banques Populaires, KBC Bank, Fortis Bank, Erste
Bank and National Australia Bank Group.

    Norkom Technologies is a leading provider of financial
crime solutions to the global financial services industry.
For more information please visit http://www.norkom.com 

    For more information, please contact:

     Rosemary Turley
     Tel:   [phone]
     Email: [e-mail] 

SOURCE  Norkom Technologies