Norkom Technologies, a provider of financial crime and compliance software, says that The Depository Trust & Clearing Corporation (DTCC) has implemented its software as part of DTCC’s program against financial crimes and money laundering.
“We will use Norkom’s advanced profiling capability to determine usual trading behavior for each customer,” says Sal Matera, the Vice President of Information Services at the DTCC. “Because of the sheer volume of trades passing through our system, time is of the essence. The Norkom solution is scalable and able to support a large number of transactions, on a national and international basis, and coupled with its strong Case Management capabilities can support the rigorous risk-based approach our regulators increasingly demand.”
“The cost of keeping pace with regulatory demands and criminal cunning is growing exponentially,” adds Joe Friscia, the GM of Norkom. “This cost can only be managed when technology is used to identify areas of greatest risk, so that investigatory scrutiny and resource can be focused in those areas.”