HSBC licenses Norkom fraud detection platform

HSBC Group is implementing Dublin-based Norkom Technologies' risk management software, Alchemist, to detect and monitor fraudulent activity across its operations.

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HSBC licenses Norkom fraud detection platform

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Norkom says its Alchemist platform helps financial services firm improve defences against card fraud, money laundering, operational risk and other financial crime.

The system uses data mining techniques and analytics to generate insights about customers, products, employees, channels and partners. It then automates the process of distributing the information to relevant staff across the organisation.

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