Banque Populaire live with Norkom’s anti-money laundering solutions

Banque Populaire, France’s co-operative bank, has successfully implemented anti-money laundering […]

May 27, 2009

Banque Populaire, France’s co-operative bank, has successfully implemented anti-money laundering (AML) solutions from Norkom Technologies, reducing the threat of financial crime and complying fully with the 3rd EU Money Laundering Directive.

Norkom’s AML solution, recognized by leading analyst firms as the market’s most advanced solution, was deployed across its 17 retail banking operations in France, with a subsequent rollout planned for a further 7 banking entities.

Speaking about the project, David Hotte, Head of Financial Security said, “We are pleased with the successful implementation of Norkom’s AML solution. At Banque Populaire, we take the issues of financial crime and compliance very seriously. We appreciate the benefits of deploying a single technology infrastructure across the enterprise for the risk-based management of our business, in an effort to enhance our overall compliance and improve our defenses against financial crime of all types. By improving our defenses in this way, we decrease the risk of incurring financial or reputational damage implicit in financial crime, helping to protect our business, customers and shareholders”.

Norkom’s advanced AML solution enables Banque Populaire to effectively monitor, detect, investigate and report on suspicious activities or unusual behavior across all its operations and business lines. Forming part of a fully-integrated financial crime software suite underpinned by a common technology platform, it enables financial institutions to detect multiple types of crime – from money laundering to fraud.

According to Alain Tayenne, General Manager of Norkom Europe, “We are delighted to add Banque Populaire as one of our satisfied clients. We have a very strong understanding of the challenges facing financial institutions and strive to enhance their operations through the expertise and solutions they need to combat all forms of financial crime. This joint success with Banque Populaire further consolidates our market-leading position in the European financial crime and compliance marketplace”.

Norkom counts six of the world’s top ten banks as clients, in addition to the largest banks in Belgium, Germany, France, Italy, Netherlands, UK, Scandinavia, Spain and Australia.

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