Under the agreement, Norkom’s case management solution, Enterprise Investigation Management (EIM), will be embedded into MasterCard’s Expert Monitoring Solutions fraud management service to enhance the capabilities MasterCard’s issuing customers currently have in predicting, detecting, and preventing payment card fraud.
Norkom’s EIM application is set to allow MasterCard’s customers to view and respond to incidents of fraud by ensuring that they have access to information needed to validate whether or not an incident is truly suspicious. The EIM service features investigative tools such as in-line browsing and data snapshotting and has the ability to reduce the time required to respond to a case.
Most recently, Norkom Technologies and IBM have entered an agreement with Russian financial services company Bank VTB to provide the latter with an integrated anti-money laundering (AML) system based on a solution from Norkom. The new system aims to assist the bank manage risks associated with suspicious transactions.
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