The RHB Banking Group, a Malaysia-based financial services group, has selected Norkom Technologies' anti-money laundering (AML) solution to meet stringent regulations centered on anti-money laundering and counter terrorism financing (AML/CTF).
According to Norkom, its advanced Anti-Money Laundering (AML) solution is designed to help financial institutions to detect and prevent money laundering and the financing of terrorism by enabling the bank to monitor and analyze every transaction and customer interaction across its entire customer base for suspicious activity.
When suspicious activity is identified, the solution automatically issues prioritized alerts to a team of investigators, commencing a comprehensive, step-by-step investigation process specifically designed to uncover potential criminal behavior as quickly as possible.
Norkom director of sales & business development for Asia Pacific Bruce Quick said that by selecting Norkom’s AML solution, RHB Banking Group will embark on complete compliance with both national and international legislative requirements, and protect its organization and clients from the financial and reputational risks associated with financial crime.