Norkom Technologies, a provider of financial crime and compliance services, has signed a deal with NCB Capital, an investment banking arm of National Commercial Bank, for marking its entry into the Kingdom of Saudi Arabia and supporting its continued expansion in the Middle East.
NCB Capital (NCBC) will commence implementation of Norkom’s suite of financial crime solutions across its operations in the Middle East, starting with its Saudi Arabian headquarters.
With Norkom, NCBC will achieve full compliance with local and international regulations such as the third EU Money Laundering Directive and the US Patriot Act.
Norkom has said that its anti-money laundering, watch list management, and customer due diligence/know customer services will help NCBC to identify and investigate suspicious or criminal behavior efficiently by monitoring and analyzing all transactions and customer interactions across NCBC’s entire client base.
Paul Kerley, CEO at Norkom, said: We are delighted to welcome NCBC as our first client in Saudi Arabia. This deal with NCBC illustrates our commitment to expand our business further in the Middle East. We’re looking forward to working closely with NCBC over the coming weeks and months in helping them gain full compliance, become the best in class investment bank in financial crime detection, and get the most from their investment.