Butler Group, an IT analyst firm and subsidiary of Datamonitor, has applauded Norkom Technologies’ financial crime and compliance software suite.
Following a comprehensive audit Butler has affirmed that the Norkom suite offers financial institutions a proven means of preventing financial crime and managing their compliance obligations. At the same time, it delivers dramatic operational cost savings by generating highly accurate alerts and streamlining the investigatory process.
“Norkom allows financial service organisations not just to decrease their crime risk, but to significantly reduce the cost of addressing it,” says Mike Davis, the report’s author.
The analyst’s conviction is backed by evidence from Norkom’s numerous deployments, which have proven the suite’s ability to reduce the incidence of financial crime by 70 percent, improve the accuracy of detection by 200 percent and reduce the operational cost of investigating it by up to 98 percent.