Norkom

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Norkom Technologies
Public company
Industry Financial services
Founded 1998
Headquarters Dublin, Ireland
Key people
Paul Kerley
Products Anti-crime software
Owner BAE Systems
Website www.norkom.com

Norkom Technologies provides financial crime and compliance software[clarification needed] to the global financial services industry. Founded in 1998.

A selection of Norkom clients include HSBC,[1] Crédit Agricole,[2] Standard Chartered Bank,[3] AXA,[4] Banco Santander,[5] ANZ,[6] and Bank of Montreal.[7] Norkom is headquartered in Dublin, Ireland, with operations and offices across Continental Europe, North America and Asia-Pacific.[8]

History[edit]

In June 2006, Norkom became a publicly quoted company on the Irish Stock Exchange (ESM: NORK.IE) and London Stock Exchange (AIM: NORK:L).[9] These listings paved the way for the acquisition of US-based Digital Harbor in July 2007, which further extended the company's footprint into the North American marketplace.[10] In 2007, Norkom entered the Asia-Pacific financial crime and compliance market, becoming a dominant leader in Australia within a 12-month period.

On 9 June 2010, the company announced its annual results to 31 March 2010, reporting a 3% increase in revenue and a 12% improvement in EBITDA.[11] In November 2009, Norkom was ranked on the FinTech 100, a list of the world's top 100 providers of financial technology, for the second consecutive year. This ranking was based on revenues from calendar year 2008 which saw Norkom moving up seven places in the ranking from the previous year.[12]

In January 2011, a €217 million deal was agreed for Norkom to be taken over by BAE Systems. BAE plans to delist Norkom and merge it with its software subsidiary Detica.[13]

Accolades[edit]

Norkom Technologies has been recognised as a market leader by industry analysts such as Chartis Research, Celent and Gartner, Inc. In April 2010, Norkom's enterprise financial crime risk management solutions were ranked highest in the industry for "completeness of offering" for the second consecutive year by Chartis Research.[14] In September 2009, Norkom's Enterprise Fraud Management (EFM) solutions were awarded a "positive" rating by Gartner, Inc., in its report, "Marketscope for Enterprise Fraud Management"[15] while in 2008 Norkom's EFM capabilities were rated "Excellent" in its 2008 report, Critical Capabilities for Enterprise Fraud Management Tools.[16] In its Evaluating the Vendors of Anti-Money Laundering Solutions, Celent described Norkom as "one of the few vendors that offer a comprehensive product suite that provides all essential components of an AML compliance solution.".[17]

References[edit]

  1. ^ "HSBC Group selects Norkom solution to support global operations". Norkom. 3 February 2004. 
  2. ^ "Credit Agricole chooses Norkom to combat money laundering and terrorism financing". Norkom. 18 July 2006. 
  3. ^ "Standard Chartered Bank harnesses the power of Norkom's AML solutions". Norkom. 27 September 2005. 
  4. ^ "Norkom to support enterprise-wide financial crime and compliance strategy for AXA". Norkom. 22 October 2007. 
  5. ^ "Top European banking group chooses Norkom Technologies". Norkom. 12 January 2009. 
  6. ^ "Norkom signs Daiwa Capital Markets Singapore, strengthening Asian market presence". Norkom. 9 February 2010. 
  7. ^ "Norkom signs $10 million contract with Bank of Montreal Financial Group". Norkom. 1 October 2003. 
  8. ^ "Norkom Contact Us webpage". Norkom. 
  9. ^ "Norkom Admitted to IEX and AIM Markets Following Successful IPO". Norkom. 26 June 2006. 
  10. ^ "Norkom consolidates global leadership and accelerates growth with acquisition of Digital Harbor". Norkom. 31 July 2007. 
  11. ^ "Norkom reports strong EBITDA growth and continued increase in revenues". Norkom. 9 June 2010. 
  12. ^ "Norkom ranked among world's top 100 financial technology providers for second consecutive year". Norkom. 11 November 2009. 
  13. ^ The Irish Times
  14. ^ "Financial Crime Risk Management Systems 2010". Chartis Research. April 2010. 
  15. ^ "Marketscope for Enterprise Fraud Management". Gartner, Inc. 3 September 2009. Retrieved 3 September 2009. 
  16. ^ "Critical Capabilities for Enterprise Fraud Management Tools". Gartner, Inc. 13 August 2008. Retrieved 3 September 2009. 
  17. ^ "Evaluating the Vendors of Anti-Money Laundering Solutions". Celent. 29 August 2006. Retrieved 29 August 2006.