AXA Financial will use Norkom’s Anti-Money Laundering and Watch List Management software to detect, investigate, manage and report suspicious activity. The solution provides advanced detection of suspicious activity using best-in-class analytics and comprehensive case management capabilities that deliver greater efficiencies to the investigation process, significantly reducing costs and improving productivity.
The system will also screen all transactions against industry watch lists to guard against business being carried out with high risk entities such as known terrorists, criminals and politically exposed people. Recent changes have intensified the regulatory landscape for financial organizations providing life and annuity insurance products, requiring organizations to step up the introduction of policies, procedures, and controls to deal with money laundering risks.
