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Innovative Systems' News & Events |
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Press Releases
Innovative Systems Debuts FinScan at Anti-Money Dedicated business unit provides sanctions and PEP compliance solutions to global financial services firms PITTSBURGH, PA – March 19th – Innovative Systems, Inc. (ISI), a leading provider of data quality and regulatory compliance solutions, today announced the launch of FinScan, its new compliance solutions business group. The formation of this independent unit within the ISI corporate structure underscores the company’s commitment to the expansion of its compliance software solutions portfolio. The move also signifies ISI’s intention to manage this growth business as an entity separate from its long-established and mature data quality operations. FinScan is a sponsor of Money Laundering Alert’s 12th Annual International Conference, being held at the Westin Diplomat Resort in Hollywood, Florida from March 19 – 21, 2007. ISI introduced its first regulatory compliance product in 1998, developed for the company’s U.S. banking customers to help them improve the screening of their clients against the U.S. Treasury’s OFAC (Office of Foreign Assets and Control) list. Since that first offering, the scope of ISI’s compliance solutions has expanded to enable clients to fulfill domestic and international anti-money laundering and terrorism prevention requirements mandated by legislation such as the U.S.A. PATRIOT Act, the EU’s Third Directive, and others. FinScan’s solutions enable financial services firms worldwide to screen their customers and associates against virtually any published sanctions list and, as well as internal risk lists and industry-specific lists such as the list published by FinCEN (Financial Crimes Enforcement Network). It also integrates with all public and third-party PEP lists and databases, including the widely-used Factiva and Regulatory Data Corporation (RDC) databases. FinScan’s licensed, hosted, or transactional screening options; list management; and automated due diligence reports together help financial services firms to achieve effective and accurate compliance with domestic and international mandates. “The launch of FinScan represents an important milestone for ISI and our customers,” said Murray Dickman, FinScan’s chief operating officer. “We’re pleased to be introducing FinScan at this important annual AML event. And, we look forward to continuing to extend the FinScan solution set to meet the changing needs of our global financial services customers — many of whom are attending the conference this week,” concluded Dickman. About Fin Scan
FinScan helps organizations worldwide meet the requirements of international government regulatory agencies by providing the most advanced sanctions list and PEP compliance solutions available. FinScan offers 24/7/365 list management; licensed or hosted deployment of its software applications; outsourced case tool review; transactional screening options; and automated due diligence reports to help ensure the most effective and accurate compliance for its clients. The FinScan Web site is located at www.finscan.com. 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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