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FinScan Introduces Native Script Compliance Screening in 20+ Languages

Support of original character sets facilitates client screening process

PITTSBURGH, PA – December 7, 2010 – FinScan, a leading global provider of sanctions, PEP and heightened risk screening solutions, today announced the release of FinScan 3100, which supports all ISO-classified character sets, including Russian, Ukrainian, Georgian, Japanese, Korean, Chinese and Greek, and allows clients to automatically screen customers and transactions in any available high risk database. To support the native characters in source and customer files, FinScan’s new technology maintains the original character names in its client database and allows rapid development of screens in any language requested by clients. To date, FinScan screens are offered in English, Chinese and Spanish. These enhancements significantly improve ease of use, efficiency, and accuracy for FinScan clients throughout the world, as all languages can now be supported.

“We’re very pleased to be able to offer these native language enhancements to our clients worldwide,” said Michael Ott, senior vice president at FinScan, “especially in light of heightened requirements for accuracy and due diligence demanded by recent Iran-focused screening mandates. Clients naturally feel more comfortable and confident performing screening and case management review in their native script and using screens presented in their native language.”

FinScan’s native language enhancements are available across its full line of solutions: licensed, hosted and Internet-based transactional screening. Clients can choose the delivery mode that best meets their needs, and then have the option to transition smoothly to another mode as their needs evolve. Case review may be outsourced to FinScan or performed in-house. FinScan’s customer education programs include topics such as understanding and determining match rules and utilizing case review tools.

Driven by a robust matching engine that has been proven in thousands of implementations worldwide, FinScan facilitates the efficient and accurate screening of customers with very precise, user-configurable rules for flagging suspicious records. Its sophisticated processing greatly reduces the risks associated with missing real matches (false negatives) and minimizes the time and costs associated with researching false matches (false positives). It can be used to screen customers against virtually any PEP or sanctions database or list; trade or industry sanctions list; or fraud, deceased, or internal do-not-do-business list. FinScan processes billions of transactions annually on a hosted basis for clients in the Americas, Europe, the Middle East and Africa. Its clients include financial service companies, transportation authorities, government agencies, and companies utilizing the software and services to screen suppliers, clients, and employees. FinScan can be easily interfaced with ERP solutions such as SAP, as well as payment, shipping invoice, and financial services firms’ application systems.

In addition to unparalleled screening precision, all FinScan solutions provide a comprehensive compliance package that includes sanctions list management and updating services, as well as automatic production of the audit and due diligence reports that U.S. and international mandates require.

About Fin Scan
As the compliance division of Innovative Systems, Inc. (ISI), FinScan helps organizations of all sizes comply with the anti-money laundering and anti-terrorism mandates of the 3rd EU Directive and other UK and international regulations by providing powerful, yet cost-effective, solutions for screening any volume of records – from several million to individual ad hoc checks. Utilizing the world-class data quality and data matching capabilities that are the cornerstone of all ISI products and services, FinScan facilitates the efficient and accurate screening of large volumes of records with very precise, user configurable rules for flagging suspicious records. This process greatly reduces the risk associated with missing real matches (false negatives), and minimizes the time and cost associated with researching false matches (false positives). FinScan also offers 24/7/365 list management; licensed, hosted, or transactional screening options; and automated due diligence reports to help ensure the most effective and accurate compliance for our clients. The FinScan Web site is located at www.finscan.com.

About Innovative Systems, Inc.
Innovative Systems is a global leader in delivering enterprise customer data management solutions to organizations whose success depends on a complete and accurate understanding of their customers. ISI's offerings include the i/Lytics® Enterprise Data Quality Suite; i/Lytics® PostLocate® global address validation and geocoding solutions for mainframe and open systems (CASS Certified™ for the US); the Synchronos® enterprise customer platform; i/Lytics® Data Governance; FinScan® for sanctions and PEP list screening and CIP/KYC programs; and specific-purpose business support applications to reduce credit losses, identify better prospects, improve customer service, better align service channels to customer value and better execute marketing and business intelligence projects.

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 EMEA offices in London, and representative offices in Brazil, Mexico, the Netherlands, Norway, South Africa, and the Middle East. ISI software supports Windows, 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.

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