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November 17, 2009 (03:21 PM EST)
Al Hilal Bank Selects Norkom for Compliance, AML
Read the Original Article at Bank Systems & Technology
Norkom Technologies (Dublin) announced that Al Hilal Bank (Abu Dhabi), a government-owned Islamic bank based in the United Arab Emirates, has selected its financial crime and compliance solutions in a deal that marks Norkom's second Islamic bank client and fourth major deal in the Middle East region over the last 12 months.
Al Hilal Bank, which was formed in June 2008, will implement Norkom's Anti-Money Laundering (AML) and Watch List Management (WLM) solutions across its operations in Abu Dhabi, Al Ain and Dubai to comply with increasing national and international regulations. Norkom's AML software will help Al Hilal Bank to monitor and analyze transactions and customer interaction across its entire customer base to identify and investigate suspicious and criminal behavior. Through matching techniques, Norkom's WLM solution will automatically alert Al Hilal Bank if any entity attempting to transact with it is listed on any of the industry's watch lists, enhancing the bank's defenses, and protecting it from exposure to sanctions and from inadvertently conducting business with known or suspected criminals and terrorists. |
