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Innovative Systems' News & Events |
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Press ReleasesInnovative Systems Will Supply OFAC Compliance Software for U. S. Steel Innovative's web-based and service bureau offerings provide manufacturing giant with flexible, reliable OFAC screening Pittsburgh, PA - December 7, 2004 - Innovative Systems, Inc., a global provider of customer data integration and regulatory compliance solutions, today announced that United States Steel Corporation, the nation’s largest integrated steel producer, has selected Innovative’s web-based compliance solution for screening its associates against the U.S. Treasury’s Office of Foreign Assets Control (OFAC) list. Innovative’s online compliance solution, eWatchLine™, will permit U. S. Steel to do real-time checks against OFAC’s Specially Designated Nationals (SDN) list. The solution’s service bureau capabilities will be used to compare U. S. Steel’s databases against the SDN list on a regular basis. “We chose Innovative Systems as our compliance provider because of the flexibility and ease of use their solution provides to us,” said Callie Pappas, Homeland Security Counsel for U. S. Steel. “We were impressed with the breadth of Innovative’s online capabilities. The real-time screening and electronic due diligence, combined with the batch screening, fulfill the critical components of our compliance program.” The combination of Innovative’s online compliance solution and database processing delivers power and flexibility to organizations aiming to achieve highly reliable screening and matching results without incurring the technology and personnel infrastructure associated with implementing comprehensive compliance software systems — a benefit in industries where compliance requirements are regularly evolving and changing. “eWatchLine continues to be an affordable, flexible and easy-to-use compliance solution for organizations of all sizes, whose requirements vary across industry spectrums,” said Jeff Canter, Innovative’s executive vice president of operations. “We are pleased to be extending our compliance reach into the manufacturing industry, and we will continue to work to provide unique, relevant compliance offerings to organizations facing ever-changing compliance requirements.” All of Innovative’s compliance solutions employ the company’s powerful data cleansing, data matching, database management and suspect screening capabilities, and offer a Customer Identification Program (CIP) feature to meet the requirements of the U.S.A. PATRIOT Act and Bank Secrecy Act, aimed at identifying and preventing money laundering, fraud and identity theft. They include screening capabilities for a host of compliance lists, including OFAC SDN, FBI Most Wanted, Bank of England, FinCEN, state and federal Do-Not-Call, and others. The solutions are offered online for real-time checks, or via a license for large database screening. Pairings of the solutions are also available, which combine online functionality with hosted or service bureau processing to provide capabilities for both real-time and batch screening. For additional information on Innovative’s compliance solutions, contact Deborah Nahm of Innovative Systems at 412-937-7657. About Innovative Systems, Inc. Since 1968, companies worldwide have relied on ISI’s data quality software, systems integration, database solutions and customer information process consulting. The company has set the standard for data quality management in thousands of customer-centric projects utilizing the firm’s services and software for creation and maintenance of customer-centric databases. Innovative Systems is headquartered in Pittsburgh, Pennsylvania, with European offices in London, and representative offices in Brazil, Mexico, the Netherlands, Norway, South Africa, and the Middle East. ISI software supports both UNIX and IBM operating systems in interactive and batch modes. Its screens can easily be adapted to any language, and its software supports Unicode. ISI has completed projects in more than 30 countries in seven natural languages – with additional languages added on demand. The Innovative Systems Web site is located at www.innovativesystems.com. Company Press Contact: Trademark Notice |
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