OTP Bank, the largest bank in Hungary, has selected Norkom’s anti-money laundering (AML) and watch list management (WLM) solutions in an effort to comply with the 3rd EU Money Laundering Directive.
The implementation of Norkom’s AML and WLM solutions represents a significant upgrade of the bank’s incumbent AML technologies, replacing a system that was developed internally.
Gabor Kanyo, head of the compliance operations department with OTP Bank, said: “Norkom was an easy and logical choice for us due to its vast experience in implementing best-of-breed financial crime and compliance solutions for some of the largest financial institutions in the world, a reputation that is supported by a highly reference-able client base and a dominant position in central and eastern Europe.”
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