Syntel, a global information technology services and Knowledge Process Outsourcing (KPO) firm, today announced that it has formed a strategic alliance with Norkom Technologies to provide financial crime and compliance software solutions to the financial services industry.
As a Norkom Integration Partner, Syntel will implement Norkom products for clients and also integrate them into its own risk and compliance solutions. This includes Anti-Money Laundering, Multi-Channel Fraud detection, Enterprise Investigation Management, Watch List Management, Customer Due Diligence, Identity Resolution and Link Analysis solutions that span the full life cycle of financial crime and compliance -- detect, investigate, manage, respond, recover, and report.
"Norkom's products align with our suite of compliance services, and together they provide customers with powerful tools to detect and combat financial crime such as fraud and money laundering," said Keshav Murugesh, Syntel's CEO and President. "As financial institutions reach a larger and more diverse global client base, it becomes increasingly important for them to ensure attention to the full life cycle to ensure regulatory compliance and limit fraud-related losses."
"We are extremely pleased to partner with Syntel," said Joe Friscia, Norkom's General Manager and EVP of the Americas. "Syntel has an outstanding track record delivering quality solutions to their customers leveraging their deep knowledge of risk and compliance operations. We look forward to working with them to seamlessly integrate our products into customer environments as we continue to build our business globally."
Syntel delivers a comprehensive suite of IT and KPO services to Fortune 500 financial services firms, and its clients span the capital markets, banking, financial services, medical banking, investment banking, and cards and payments areas.
In addition to product implementation, Syntel's compliance solutions include diagnostic study, Business Line Mapping with Validation, Risk Control Self Assessment (RCSA) Evaluators, Risk Pointer, Loss Event Compiler Database, and Risk Report Repository.