Banco Santander SA has agreed to use anti-money-laundering software from Norkom Group PLC.

Norkom, a Dublin vendor, said Monday that the Spanish banking company plans to use its anti-money-laundering and watch-list management applications in all its European and Latin American operations.

The software monitors customer transactions for signs of suspect activity and lets bank employees investigate and report potential financial crimes. It also automatically alerts the bank when people or companies on the various government watch lists try to transact through a Santander account.

Norkom said Santander is its first customer in Spain and that, with this contract, its clients include six of the world's 10 largest banking companies.