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Innovative Systems Launches Online
USA PATRIOT Act Compliance Solution |
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| Designed for individual name screening, Innovative's eWatchLine provides an easy-to-use screening solution for industries including automotive, travel, and realty |
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| Pittsburgh, PA - September 18, 2003 - Innovative Systems, Inc., a leading provider of customer data integration solutions, today announced the availability of eWatchLine™, its new online USA PATRIOT Act compliance solution for low volume customer name checks. Leveraging the strength of the company's i/Lytics SECURE™ compliance software, eWatchLine offers organizations in a variety of industries a simplified approach for fulfilling the customer-screening requirements set forth in Section 326 of the USA PATRIOT Act. |
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| In response to threats of terrorism and money laundering, many U.S. and international governmental bodies have passed legislation mandating customer-screening procedures. Chief among these new laws is the USA PATRIOT Act of 2001, which requires many U.S. organizations to screen customer records and transactions against complex government suspect lists. |
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eWatchLine facilitates quick, reliable individual name screening and significantly reduces the time associated with checking customers' and prospects' names against complex government suspect lists, such as the U.S. Department of Treasury's OFAC list (Office of Foreign Assets Control). This interactive Web site is designed to enable on-the-spot name checks that meet the unique screening requirements of organizations such as automotive and vehicle sales dealers, travel agencies, and real estate firms, among others. Its detailed reports provide a critical audit trail capability that supports both the management and reporting functions of the organization's
compliance program. |
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| "Innovative is pleased to launch an offering that is designed to ease the compliance burden for so many organizations struggling to implement a simple, but reliable solution," said Mike Healy, Innovative's executive vice president of marketing. "eWatchLine combines the power of Innovative's proven compliance technology with the convenience of Internet access to deliver a solution that greatly reduces the time, costs and risks associated with checking customer names against required government lists. |
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| "We have added unique features and capabilities to the offering based on important feedback from targeted industries, including eWatchLine's launch client — an automotive sales dealership. We look forward to helping companies in a wide variety of industries — many of which are only now beginning to understand their compliance responsibilities — meet their new customer-screening requirements," Healy concluded. |
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| The USA PATRIOT Act requires domestic financial services institutions to develop and implement customer-screening procedures. As broadly defined for the purposes of comparing customer records against suspect lists such as the OFAC list, some of the businesses that are considered to be financial services companies include auto, boat and plane dealers; real estate closings and settlements firms; telegraph companies; dealers of precious metals, stones and jewels; travel agencies; and exporters and importers. |
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Unlike other screening solutions, eWatchLine performs rigorous cleansing of both the suspect lists and customer data prior to matching to maximize matching accuracy and efficiency. In addition to the OFAC list, some of the other suspect lists available for customer-screening checks through eWatchLine include the FBI's Most Wanted and Fugitives List, U.S. Marshal's Most Wanted List, Bureau of Export Administration's Denied Person's List, Interagency's International Fugitives List, Interpol's Most Wanted Notices and U.S. Drug Enforcement Administration's Fugitives List. eWatchLine's unique matching
capabilities enable organizations to compare customer name only, customer address only, or both name and address, thereby reducing risks by providing added power and flexibility to their customer-screening measures. |
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The eWatchLine compliance solution is available today. Organizations can subscribe to the service on an inquiry transactional basis, or by purchasing a preset number of inquiries. For additional information on eWatchLine, visit www.ewatchline.com or contact Innovative Systems
at 800-622-6390. |
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| About Innovative Systems, Inc. |
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| Innovative Systems is a world leader in delivering enterprise customer information solutions to organizations whose success depends on a complete and accurate understanding of their customers. ISI's solutions include: i/Lytics® Enterprise Data Quality Suite; i/Lytics GLOBAL™ Suite for CASS™ certification, geocoding, and longitude/latitude coordinates; Synchronos™, ISI’s proven CDI and enterprise customer management solution; and FinScan™ for compliance list, sanctions and PEP screening compliance. |
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| Since 1968, companies worldwide have relied on ISI’s data quality software, systems integration, database solutions and customer data quality audits. The company has set the standard for data quality management in thousands of customer-centric projects utilizing the firm’s services for creation and maintenance of customer data. ISI’s work has included clients in more than 30 countries. ISI maintains headquarters in Pittsburgh, Pennsylvania, with European operations based in London. Representative offices are in Washington, D.C., Phoenix, AZ, and Mexico City. The Innovative Web site is located at www.innovativesystems.com.
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| Company Press Contact: |
Karin O'Sullivan
Innovative Systems, Inc.
Tel: +1 (412) 937 7678
kosullivan@innovativesystems.com |
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Trademark Notice
i/Lytics, i/Lytics Data Profiler, i/Lytics SECURE, eWatchLine, FinScan and Synchronos are trademarks of Innovative Systems, Inc. All other products or company names are used for identification purposes only, and may be trademarks of their respective owners. |
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