Norkom Offers IBM System z Clients Solutions To Fight Financial Crime

Norkom Technologies will now offer its 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 financial institutions today 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 licences, 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 capitalise 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,” explained Paul Kerley, Norkom’s CEO.

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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 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.