Norkom signs Travelex to anti-money laundering software
Norkom Technologies has reached an agreement with Travelex, which will see Norkom's Anti-Money Laundering & Compliance software implemented to service all operations across the group.
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Travelex is a world leading money services organisation with offices in 34 countries, corporate relationships in 110 countries, and servicing over 29 million customers each year. Travelex will use Norkoms' software to detect suspicious behaviour amidst business transactions across the range of international travel and financial products. Furthermore the software will be used to profile and case manage possible anti-money laundering activities, in addition to the production of compliance reporting as required by the various local, national and international financial regulators.
Commenting on the deal, Paul Kerley CEO Norkom said, "The perpetrators of financial crime are often non-account based customers and so it is imperative for financial institutions to strengthen their defences in the course of transaction based business. Travelex is a world leading organisation and we very much look forward to working with them."