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Norkom wins $10m Canada contract

Dublin-based financial software group Norkom Technologies has signed a $10m deal with Canada's Bank of Montreal (BMO) group.

This follows on from an existing contract Norkom has with the group, under which its Alchemist technology is being used across the bank's operations in Canada and North America.

Under today's agreement, the technology with be further developed as part of a joint programme between the two companies. Alchemist is used by financial institutions to improve their defences against risks such as credit card fraud.