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Accuity and Norkom combine to fight financial crime

08 January 2010  |  8377 views  |  0 Source: Accuity

Accuity, the leading provider of payment routing data, AML screening software and services, and Norkom, the leading provider of financial crime and compliance software solutions to the global financial services industry, have joined forces to offer additional value to customers. Through a collaborative development effort, Norkom and Accuity have built the necessary points of integration making Accuity's Global WatchList® compliance data fully functional within Norkom's financial crime and compliance software suite.

Global WatchList is Accuity's comprehensive collection of caution lists from all major sanctioning bodies, law enforcement agencies and financial regulators from around the world. In addition to lists that facilitate Enhanced Due Diligence (EDD) searches and screening for Politically Exposed Persons (PEPs), Global WatchList offers 100% coverage of regulatory sanctions lists for all countries worldwide.

This extensive range of compliance data is now easily deployable within the Norkom Sanctions & Politically Exposed Persons (PEP) Screening and Norkom Transaction Filtering solutions. These market leading solutions screen over one billion financial relationships daily, enabling financial institutions to comply with national and international regulations and protect their reputations in one adaptable solution.

"The customers that we share with Norkom represent some of the largest financial institutions in Europe and the United States," said Hugh Jones, President of Accuity. "By working with Norkom and making it easier for our customers to realize the full benefits of both of our firms' industry-leading solutions, we have enabled better risk mitigation and increased the accuracy of detection for our clients." "We are pleased to have worked with Accuity in making our offerings more compatible," said Edward Doyle, Norkom's Head of Payment Solutions. "Doing so allows us to continue offering our customers the flexibility and scalability necessary to limit fraud-related losses and lower the cost of compliance."

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