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Innovative Systems' News & Events |
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Press ReleasesInnovative Systems Enhances Secure Service to Canada with New Mississauga Data Center Will deliver advanced SaaS processing while ensuring customer privacy PITTSBURGH, PA – September 23, 2008 – Innovative Systems, Inc. (ISI), a leading global provider of customer data quality, sanctions list/Politically Exposed Persons (PEP) screening, and CDI solutions, today announced the opening of a computer facility in Mississauga, ON, Canada, in the Greater Toronto Area. The new facility was developed to provide services to ISI’s rapidly growing Canadian client base and complements ISI’s other computing facilities in Pittsburgh, PA and London, UK. ISI has served Canada’s leading banks and financial institutions since 1986, with five of the top six banks as current clients. Client concerns regarding customer privacy and sending customer data outside Canadian jurisdiction, which is discouraged by the Office of the Superintendent of Financial Institutions Canada (OSFI) in its Guideline B-10, prompted ISI to open the new facility to provide its clients a level of comfort by enabling them to keep their customer data in Canada. With the new data center, ISI now offers Canadian clients secure SaaS (software as a service), or “hosted,” processing for ISI’s four business lines: data quality, data integration, address validation, and Politically Exposed Foreign Persons (PEFP)/sanctions list screening [required by Canadian Bill C-25, which amended the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Bill C-25’s deadline for having a PEFP screening solution in place was June 23, 2008]. “Facing compliance with Bill C-25, many Canadian firms were interested in a proven, yet quick solution that offered ease of implementation and was cost-effective,” explained FinScan COO, Murray Dickman. “Our FinScan Hosted PEFP and sanctions screening solution has been used by clients since 1998 and utilizes best practices developed over years of experience. We found our Canadian clients were discouraged from using the FinScan Hosted solution because of Canada’s strict client privacy guidelines as they relate to sending customer data out of the country. With our hosted screening offering, clients transmit their data over the Internet to ISI’s secure Canadian data center; we match their customers against their preferred sanctions or PEFP database according to their matching parameters and then return to them the suspected matches for review. “Prior to our opening the Mississauga data center, in order to use our hosted screening service Canadian firms would have had to transmit their data across the Canadian border to our Pittsburgh data center, which is prohibited by OSFI without prior consent,” Dickman continued. “Now that obstacle is eliminated, and our Canadian clients are able to screen their customers accurately and economically in Canada.” Hosted processing works the same way with ISI’s data quality, CDI, and address validation solutions. ISI processes the client’s data according to their specifications and returns the updated files to them. Compared to the traditional model of licensing and operating software solutions in-house, hosted processing significantly reduces the client’s initial investment, as well as the ongoing demands on their internal personnel and hardware resources. ISI manages the process for clients at a reduced cost over an in-house solution. The increasing demand for hosted processing has contributed to a 100% increase in ISI’s hosted business over the last 12 months. “We’re very pleased to provide our Canadian clients the added service and security of our Mississauga data center,” said Bob Colonna, ISI president and CEO. “Having a secure data center within Canada’s boundaries enables us to offer Canadian organizations the valuable option of hosted processing in meeting their data quality and PEFP screening needs." 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, site of the 2009 G20 summit, with European offices in London, and resident staff in Mexico City; Raleigh, NC; Atlanta, GA; and Phoenix, AR. ISI software supports both Unicode and IBM operating systems in interactive and batch modes. ISI has completed projects in more than 30 countries in seven natural languages – with additional languages added on demand. The Innovative Web site is located at www.innovativesystems.com. Company Press Contact: Trademark Notice |
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