In a new report Celent says that Norkom’s anti-money laundering solution outclasses its competitors’ offerings in the global market place.
The report is considered to be the most comprehensive guide to the AML software market available, and evaluates 19 vendors comparing them across a range of comprehensive criteria. Their results show that Norkom leads the market, a market which, according to the report will increase to $375 million by 2009, with spending growing at a compound annual growth rate of 5.9%.
“Norkom are one of the few vendors that offers a comprehensive product suite that provides all essential components of an AML compliance solution, including transaction monitoring, watch list filtering, KYC, case management, analytics, and reporting,” says Neil Katkov, author of the report.
Norkom’s anti-money laundering solution has been proven to improve the accuracy of detection by 200% and reduce the operational cost of investigation by up to 98%.