DUBLIN, March 4 /PRNewswire/ --     AIB, Ireland's leading bank, is to implement financial crime
and compliance software from Norkom Technologies to facilitate compliance
with the 3rd EU Anti-Money Laundering (AML) Directive across its Irish, UK,
Polish and Capital Markets operations. The software, recognised by industry
watchers as the market's most advanced, will support AIB's risk based
approach to customer due diligence, anti-money laundering, automated
monitoring of financial sanctions lists, and will provide rigorous
investigation and case management functionality.

The 3rd EU AML Directive requires financial institutions to
implement a risk based approach to the management of their AML compliance
operations, matching the degree of risk presented by each customer with an
appropriate and variable level of monitoring activity, investigation and
prioritisation.

"After evaluating the market we concluded that Norkom's
software would help to facilitate compliance with the 3RD EU AML Directive
across our operations and provide us with the architecture for a single
technology infrastructure for risk based management of our AML activities,"
says AIB's Group General Manager of Regulatory Compliance, Philip Brennan.
"We will use Norkom to assist us in establishing a base line risk profile for
each customer at account opening and to instigate an appropriate level of
monitoring activity. Both the risk profile and the level of monitoring will
be adjusted if the pattern of the financial transactions or other key factors
change over the lifetime of the relationship. In this way, we can be
confident that that the degree of scrutiny applied to each customer is
directly correlated to risk."

The contract with AIB strengthens Norkom's market leading
position where it already powers financial crime and compliance operations
for clients such as HSBC, Rabobank, Western Union, KBC Bank, Standard
Chartered Bank, Visa, Travelex and Credit Agricole.

"In its pursuit of an enterprise wide risk based approach to
financial crime and compliance, AIB is setting a standard that financial
institutions will aspire to," says Paul Kerley, CEO of Norkom Technologies.
"Financial services institutions around the globe are recognising that, by
aligning identified risk levels with appropriate action, they will not only
improve their ability to combat crime, but also enhance their economic
performance and productivity of their investigation units. They will be able
to target investigative resource where it delivers greatest value, reduce the
incidence of time costly false positives and improve their trading
performance by bringing low risk business onto book quickly."

Norkom was recently awarded 'Best Technology Solution' in
Complinet's annual compliance excellence awards. The judges described its
technology as "groundbreaking", and "a firm foundation for a consistent,
measured approach to helping avoid expensive technology proliferation and
contain costs."

About Allied Irish Bank (AIB)

AIB Group is Ireland's leading banking and financial services
organisation. It operates principally in Ireland, United Kingdom, Poland and
the USA. It employs more than 24,000 people worldwide in more than 750
offices and four main divisions: AIB Bank (RoI), AIB Bank (UK) AIB Capital
Markets and AIB Poland. AIB also has a significant presence in US regional
banking with a 23.5% shareholding in M&T Bank Corporation, one of the top
regional banks in the US.

http://www.aibgroup.com

Norkom Technologies

Norkom Technologies (AIM: NORK.L, IEX: NORK.IE) 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. Used by
clients in over 100 countries, Norkom is proven to reduce financial losses,
protect reputation, improve operational efficiencies and lower the total cost
of ownership. Norkom has operations across North America, Asia Pacific and
Europe.

Norkom's software has been described as 'outclassing our
competitors' by the analyst group, Celent, and as an 'effective enterprise
wide financial crime management solution' by Gartner. Norkom was also
recognised as 'The Best Technology Solution' in Complinet's 2007 compliance
awards, the number one for AML and fraud in the OpRisk & Compliance
magazine's software rankings survey and 'Best Product' in the Banking
Technology Awards.

To find out more, visit http://www.norkom.com

Media contact: 

    Fiona McLoughlin, 
    Marketing Manager, 
    Norkom Technologies
    +353-1-8739612 
    fiona.mcloughlin@norkom.com