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Innovative Systems’ Hosted Compliance Business Triples
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SAS 70 secure data center and solution’s ease of use contribute to i/Lytics SECURE™’s expansion across industries and borders
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| PITTSBURGH, PA – November 2, 2006 - Innovative Systems, a leading provider of regulatory compliance solutions, today announced that transaction volumes of its hosted compliance business line, i/Lytics SECURE, were up 300% compared to the same time period a year ago. Launched in 2002, the service offers watchlist screening, enhanced due diligence and identity verification in a highly secure SAS 70 data center environment. The Innovative solution hosts the most comprehensive database of high-risk entities, culled from thousands of sources, including over 200 government and watchdog lists and international media. Organizations employing the hosted solution span a variety of industries, from one of Britain’s leading financial institutions, to the financial services arm of one of the world’s largest automotive companies, to manufacturing, retail and healthcare firms |
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| “The key to this impressive growth in such a short period of time is the solution’s flexibility, scalability and affordability – a combination other solutions just don’t offer,” said Bob Colonna, Innovative’s president and CEO. “Regardless of size, industry or geography, our hosted offering can be configured to meet a client’s unique needs; all the while delivering the most accurate screening results available in the industry today. Consequently, our customers view Innovative as an important – and secure – extension of their internal operations. And, by entrusting their screening processes to Innovative, our customers are able to dedicate their internal resources to other efforts that are critical to growing their business. The cost savings this brings to an organization – in both time and resources – is significant, to say the least.” |
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| Innovative’s hosted solution enables organizations to quickly and accurately screen customer and associate names against numerous government watchlists to ensure that the organization does not conduct business with known or suspected money-launderers, terrorists, drug traffickers, or other criminals, as required by various U.S. and international laws. Clients of Innovative’s hosted service can screen against a host of international compliance watchlists, such as those published by the U.S. Treasury’s Office of Foreign Assets Control (OFAC), Bank of England, European Union, Federal Bureau of Investigation, U.S. General Services Administration, U.S. Department of Commerce, United Nations, World Bank, and other world organizations and governments. |
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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 data quality, data management, and compliance solutions include the i/Lytics® Enterprise Data Quality Suite; i/Lytics GLOBAL™ a CASS-certified address verification solution; Synchronos™, a master data management solution for enterprise customer data, and FinScan for compliance list, sanctions and PEP screening. |
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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 applications in more than 30 countries. ISI maintains headquarters in Pittsburgh, Pennsylvania, with European operations based in London. 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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