Looking to strengthen its defenses against money laundering activities, French bank Natexis Banques Populaires, has signed a E1 million contract with Dublin-based Norkom Technologies for the supply of its financial crime and compliance software.
The agreement will see Norkom’s software implemented in several phases across Natexis Banques Populaires’ operations throughout France.
Using sophisticated behavioral analysis, customer profiling and case management technology, the software is expected to increase the bank’s ability to detect suspicious activity.
The technology will be used to monitor transactions, identify unusual activity and automatically issue prioritized alerts to a team of investigators to complete a comprehensive, step-by-step investigation process.
Paul Kerley, CEO of Norkom Technologies said, As each Norkom product is built upon a fully scaleable technology platform, it can operate as a stand alone solution or as part of a fully integrated financial crime and compliance software suite to counter all types of fraud. This means that our technology can be scaled to meet the future requirements of our clients’ ongoing financial crime and compliance strategy.