Norkom upgrades Enterprise Investigation Manager

Source: Norkom

Norkom Technologies announces the next generation of its market leading Enterprise Investigation Manager (EIM) solution, providing enhanced detection, investigation and intelligence capabilities which enable institutions to command and control their defences against financial crime.

EIM is an enterprise-level solution that tracks and manages all financial crime events across an institution-from any source-and provides the information and tools needed for early detection and decisive action. EIM intelligently links Fraud, Anti-money Laundering (AML), Know Your Customer/Customer Due Diligence (KYC/CDD) and Corporate Security incidents with related internal and external data to provide a complete picture of risk and improve the efficiency and effectiveness of investigation and resolution of criminal activity.

Recent research conducted by Datamonitor and Norkom amongst leading tier one financial service institutions revealed that the majority are embracing an enterprise-wide risk based approach to financial crime management, with more than half having consolidated their AML and fraud prevention operations across the enterprise, and almost half establishing Financial Intelligence Units. Such initiatives can only be successful with the right choice of Financial Crime and Compliance technology platform.

"Norkom's EIM solution has recently been embraced by two top U.S. banking organizations and a major card issuer, joining our extensive client family which already includes six of the top 10 worldwide banks as ranked by shareholder equity," says Norkom's CEO, Paul Kerley. "These clients have told us what's critical - what other solutions fail to do."

"Financial organizations need much more than workflow tools - they need a solution with embedded domain expertise that not only aggregates critical information but also intelligently correlates that data and provides a rich environment to rapidly reach decisions during all phases of the lifecycle - from establishing the initial relationship with a client or employee, through holistic ongoing assessment of risk during the relationship, to taking any action necessary should suspicious activity be discovered. The newest release of EIM from Norkom provides all the necessary elements to accomplish this."

"In addition, effectively combating financial crime requires a solution that can be quickly deployed within an existing infrastructure, without sacrificing the ability to personalize and evolve the system moving forward. Norkom provides a comprehensive Reference Configuration, based on years of experience with over 50 of the world's largest financial organizations, which enables rapid implementation of EIM with minimal effort. This makes EIM an ideal choice for organizations looking to quickly replace in-house or legacy case management tools such as ICMS, while still offering the flexibility to be expanded to additional areas of financial crime in the future."

The current version of EIM is already in use at some of the world's largest financial organizations, providing comprehensive correlation of alerts and incidents from multiple sources, improved investigation processes and regulatory filings, and enhanced visibility of fraud activity. The latest EIM upgrade adds extensive capabilities to meet the demanding needs of financial organizations for managing enterprise-wide financial crime and compliance activities. New features span all 3 elements of the EIM solution (Enterprise Interrogator, Enterprise Investigator, and Command and Control) that work together to provide a full, end-to-end platform for managing financial crime:

New capabilities include:
  • A broad Services Framework, providing rapid integration with data sources such as existing detection engines via a Service-Oriented Architecture (SOA) approach
  • Powerful fuzzy matching analytics that automatically uncover subtle relationships across clients, accounts, and suspicious activity alerts
  • Enhanced capabilities in Composite Scoring, using a central alert hub, to consolidate, standardize, pre-link and risk score alerts and cases from multiple data sources
  • Enhanced Loss Management and Case Financials, offering a complete financial picture associated with an incident, case, customer, or work queue through the full case lifecycle.
  • Enriched Data Model, supporting a more efficient case drill-down process
  • Predefined Command and Control channels for AML, Fraud, and KYC/CDD, each with its own standard set of key performance indicators (KPIs).


Availability: general availability of the newest release of EIM is planned for spring 2008.

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