September 1, 2008 - Dublin, Ireland.  Norkom Technologies, the leading provider of financial crime and compliance solutions for the global financial services industry, has today announced that it has won its first Islamic Bank customer, Dubai Islamic Bank.

The deal with Dubai Islamic Bank, the world’s first fully-fledged Islamic Bank, marks Norkom’s strategic foray into the Middle Eastern financial services market. Under the terms of this agreement, Dubai Islamic Bank will roll out Norkom’s sophisticated suite of financial crime and compliance solutions across its operations in the United Arab Emirates and Pakistan.

With Norkom’s advanced anti-money laundering software, Dubai Islamic Bank will be able to monitor and analyse transactions and customer interaction across its entire customer base to identify and investigate suspicious and criminal behaviour. Through the use of Norkom’s superior matching techniques, the software will automatically alert Dubai Islamic Bank if any entity attempting to transact with it is listed on any of the industry’s numerous and diverse watch lists, enhancing the bank’s defences and protect it from exposure to sanctions and from inadvertently conducting business with known or suspected criminals and terrorists.

In addition, Dubai Islamic Bank will benefit from Norkom’s customer due diligence solution which assigns risk ratings to customers at the point of opening an account then continually reassesses their behaviour and alerts bank investigators if unusual or suspicious activity is detected.

Waheed Rathore, Head of Group Compliance at Dubai Islamic Bank, commented: "This initiative demonstrates DIB's commitment to improve its defences against money laundering and terrorist financing. It also reflects DIB's belief that sustainable growth can only be achieved by maintaining high standards of regulatory compliance. Norkom was a natural selection for us not only for its proven technological and international capability, but its excellent business acumen and approach to cultivating close customer relationships."

Paul Kerley, Norkom’s Chief Executive Officer, says, “We are delighted to welcome Dubai Islamic Bank as our first Middle Eastern and Islamic banking customer. Dubai Islamic Bank selected Norkom after an extensive market review process, which included consultation with existing Norkom clients. Norkom invests as much time and effort in building close relationships with all its customers as it does in developing the best-of-breed financial crime and compliance software solutions. This deal represents a significant milestone for Norkom. Having achieved market leadership in Europe, the Middle East is the next logical step towards becoming a truly globalised provider of financial crime and compliance solutions”.

Voted Vendor of the Year 2008 by Compliance Reporter, Norkom is a market-leading provider of innovative financial crime and compliance solutions to the global financial services industry. Its software has been described as ‘outclassing its competitors’ by the analyst group, Celent, and was recognised as the ‘Best AML Solution’ in Banking Technology’s Readers’ Choice Awards 2007, ‘The Best Technology Solution’ in Complinet’s 2007 compliance awards and was voted ‘The number one anti-fraud software’ and ‘The number one AML software’ in OpRisk & Compliance’s 2007 software rankings survey.

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