Daiwa Capital Markets Singapore will also implement Norkom’s Sanctions and Politically Exposed Persons (PEP) screening and transaction monitoring solutions.
Norkom’s analytics software, which screens over one billion financial relationships daily for financial institutions across the globe, will screen all transactions against industry watch lists to safeguard Daiwa Capital Markets Singapore against business being inadvertently carried out with high-risk entities such as terrorists, criminals and politically exposed persons (PEP).
Bruce Quick, director of sales and business development for Asia-Pacific at Norkom, said: “The Asian-Pacific financial crime and compliance marketplace is an exciting place to be right now, with a myriad of financial crime related activities taking place in every country. Each Asian market has its own financial crime and compliance business drivers, which vary from market-to-market – whether that’s to comply fully with emerging local money laundering legislation or to fight the spiralling levels of fraud across multiple channels.
“The value of Norkom’s platform is that it enables financial institutions to address their immediate and specific financial crime and compliance needs, whilst providing them with the opportunity of seamlessly enhancing their defenses against all types of financial crimes at any point in the future.”
