Radware Partners with Norkom Technologies to Help Online Businesses Fight Fraud and Identity Theft as Well as Money Laundering
Radware (NASDAQ: RDWR), the leading provider of integrated application delivery solutions for business-smart networking, today announced a partnership with Norkom Technologies, the leading provider of real-time financial crime and compliance software. Through the integration of Radware's real-time event delivery platform, a part of its business-smart network solutions, and Norkom's industry leading fraud and compliance detection and investigation solutions, security-concerned online businesses will be able to fight fraud and identity theft, as well as money laundering in real time.
More specifically, Radware's Inflight event delivery platform will automatically feed real-time events from web applications to Norkom's fraud applications, allowing organizations to assess and react to potential online attacks in real-time, thereby reducing possible financial losses while maintaining regulatory compliance.
Paul Kerley, CEO of Norkom explains: "Financial organizations are looking to technology to help them deliver a cohesive strategy and defense against the increasing volumes and sophistication of financial crime. Employing Norkom's 'gold standard' financial crime and compliance platform in conjunction with Radware's Inflight platform will enable clients to achieve new levels of intelligence and effectiveness in the fight against fraud."
Radware's Inflight product provides users with the ability to deploy their business event delivery platform across the enterprise with the utmost ease, and with zero impact to applications or users. As the industry's only pervasive network-based event platform that delivers real-time business events to applications across the enterprise, it can easily accompany users in the ever-changing business environment.
"Norkom and Radware are jointly engaged to make a material impact in the enterprise financial fraud and compliance marketplace. The combined real-time platforms enable institutions with a significant investment in online businesses to address risk to their business and brand in a methodology with a positive return on investment," stated Paul Bilden, General Manager for Radware's Inflight Group. "Real-time intelligence of online user activity is vital in profiling users for fraud detection or anti-money laundering efforts. The prevalence of financial crimes in the online channel coupled with drivers around increased corporate governance and reputation risk are driving our real-time business with Norkom around our business-smart strategy solutions."
Norkom's financial crime management platform provides financial services organizations with the ability to detect, triage and respond to organized crime attacks either directly through fraud or indirectly through the violation of government regulations such as anti-money laundering or insider trading rules. Norkom's innovative products combine best in class technology with years of domain knowledge in deploying sophisticated financial crime management solutions for Tier 1 Global financial services organizations.
Marcos Semola, Head of InfoRisk Operation at Atos Origin UK, a leading worldwide system integration firm with a global risk practice, notes the joint Radware-Norkom solution provides the first holistic, closed loop approach to risk and compliance. "Radware's business-smart strategy is an industry-first approach for making the network a vital application and user-aware asset. By combining these two leading technology platforms, Atos Origin is able to bring a best in class strategy to our global customer base looking to proactively assess risk and compliance in their enterprise."
The combined solution delivers a multitude of business benefits, including reduced financial losses, real-time visibility in their applications, increased operational efficiencies, improved application performance in online applications, and compliance with a large number of regulations.
About Radware Radware (NASDAQ:RDWR), the global leader in integrated application delivery solutions, assures the full availability, maximum performance, and complete security of business-critical applications for more than 5,000 enterprises and carriers worldwide. With APSolute™, Radware's comprehensive and award-winning suite of intelligent front end, access, and security products, companies in every industry can drive business productivity, improve profitability, and reduce IT operating and infrastructure costs by making their networks "business smart". For more information, please visit www.radware.com.
About Norkom Technologies
Norkom (AIM, IEX:NORK) is a market-leading provider of innovative financial crime and compliance solutions to the global financial services industry.We enable organisations to take intelligent action, control their defences and evolve their strategies against financial crime. By combining our unique financial crime and compliance technology platform with our deep domain expertise and extensive client experience, we offer a comprehensive set of solutions which can be scaled and customized to meet your current and future needs - from anti-money laundering and risk-based customer due diligence to enterprise investigation of all types of fraud.
Used by clients in over 100 countries, including HSBC, Credit Agricole, Fortis, Rabobank, Standard Chartered Bank, DTCC, Travelex and Western Union, Norkom is proven to reduce financial losses, protect reputation, improve operational efficiencies and lower the total cost of ownership. Founded in 1998, Norkom has operations across North America, AsiaPac and Europe. For more information please visit www.norkom.com
This press release may contain forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the Application Switching or Network Security industry, changes in demand for Application Switching or Network Security products, the timing and amount or cancellation of orders and other risks detailed from time to time in Radware's filings with the Securities and Exchange Commission, including Radware's Form 20-F.