Case Study: a leading consumer bank achieves quick AML implementation with HCL Norkom

AML Norkom Implementation For A Leading Consumer Bank

The customer, a leading consumer bank, needed to robustly monitor for money laundering and terrorist financing activities as part of their Anti Money Laundering (AML) compliance. To meet this objective, they had selected the Norkom Alchemist solution but faced significant challenges in understanding diverse Watch List data sources and mapping them to the application's KYC requirements. They engaged the vendor, HCL, for its expertise in implementation and support.

HCL provided a comprehensive solution involving business requirement gathering, gap analysis, data mapping, and the development of functional and technical specifications for interfaces. Due to HCL's extensive prior experience with the AML Norkom product, they were able to ensure a quick implementation of the requirements for the bank. This partnership provided the leading consumer bank with the necessary application support and maintenance for their business-critical systems.