Part of the IBM Banking Industry Framework, Norkom`s solutions will help clients
reduce costs, improve service and increase risk management
BOSTON--(Business Wire)--
Norkom Technologies has today announced that it is to offer its market leading
solutions to IBM System z clients, enabling financial institutions to run their
regulatory compliance and fraud solutions on one cost-effective and integrated
platform.
Many of the world`s top financial institutions run IBM System z. With Norkom`s
Anti-Money Laundering (AML) and Multi-Channel Fraud solutions now available to
them, these financial institutions can lower both the total cost of ownership
and the costs of overall risk management through a more efficient use of
resources - including hardware, fewer software licenses, reduced labour
requirements and faster deployment of new services with fewer resources.
"By enabling our end-to-end financial crime and compliance solutions to support
the IBM System z operating system, Norkom is committed to helping financial
institutions capitalize on new z technologies, and safeguard and leverage their
existing mainframe investments - in both hardware and personnel - in the fight
against financial crime, whilst maintaining the performance, scalability and
robustness they`ve come to expect from the mainframe," explains Paul Kerley,
Norkom`s CEO.
Financial crime costs an estimated $19 billion in losses annually, while, at the
same time, operating costs related to regulatory compliance have been growing at
a pace of 43 percent year-on-year. Recent research by Norkom Technologies
clearly illustrates the plight facing financial institutions, grappling to limit
escalating fraud losses and lower the increasing cost of compliance. Norkom`s
financial crime and compliance software solutions enable banks to fight
financial crime and meet the most stringent demands of regulators. Now, Norkom
clients deploying the Norkom solution on System z will benefit from the
efficiency, resilience and security that it offers.
"This is a substantial milestone for Norkom," adds Kerley, "because it`s all
about giving financial institutions more value for money - less costs, improved
efficiencies and increased risk management."
Norkom is part of the ecosystem around the IBM Banking Industry Framework, which
provides banks access to industry proven data and process models from more than
250 financial institutions so they can safely and securely upgrade their
infrastructure on the fly. Banks are seeking ways to work smarter and the
combined IBM and ISV solutions offered by the IBM Banking Industry Framework
enable banking customers to speed time to market, reduce development risk, lower
development costs, and improve their return on investment.
"Technology is an essential component of building a smarter banking system. With
an integrated platform to help prevent fraud, financial institutions can more
easily fight financial crime and improve their bottom line," said Karl Freund,
vice president IBM System z strategy and marketing. "Norkom is one of many new
ISVs making their world class applications available on System z, zLinux and
z/OS, the banking industry's gold standard for business-critical applications."
Norkom Technologies (www.norkom.com):
Norkom Technologies (AIM: NORK.L, IEX: NORK.IE) enables financial organizations
to take intelligent action, control defenses, and evolve strategies against
fraud, money laundering, and other types of financial crime. Norkom has
established a solid track record of reducing financial losses, protecting users`
reputations, improving operational efficiencies and lowering the cost of
technology.
Norkom Technologies
Fiona McLoughlin, +35318739612
Marketing Manager
fiona.mcloughlin@norkom.com
Copyright Business Wire 2009
