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| i/Lytics SECURE™ enables public and private organizations to compare client records against virtually any database or suspect, sanctions, excluded parties or Politically Exposed Persons (PEP) list, including lists published by U.S. and international government agencies, industry or trade lists, and internal risk lists. |
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| It is a valuable tool for helping financial institutions, insurance companies, and state and federal agencies meet all the customer screening and identity verification requirements of national and international legislation aimed at detecting and preventing terrorism, international money laundering, and other criminal activities. |
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| Among these mandates are: the U.S. Treasury Department's Office of Foreign Asset Control (OFAC); the U.S.A. PATRIOT Act of 2001; the Bank Secrecy Act (BSA); the United Kingdom's Anti-Terrorism, Crime & Security Act 2001 (ATCSA); EU´s money laundering Directive of 2001; Canada's Bill C-36; Australia's Security Legislation Amendment (Terrorism) Act 2002; the South African Parliament Anti-Terrorism Bill; the United Nations-based International Terrorism Conventions; and the Financial Action Task Force (FATF). |
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Extensive List Management and Maintenance
One of the critical factors in matching accuracy is ensuring that the data within the lists is clean and up to date. To maximize matching accuracy and efficiency, Innovative uses its proven technology to rigorously cleanse, format and update all suspect lists available through i/Lytics SECURE. This saves substantial time and money vs. in-house processing or other less sophisticated methods.
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| Examples of government-provided lists include the OFAC list, the FBI's Most Wanted and Fugitive List, the World Bank Debarred Parties List, the United Nations Sanctions List, the Bank of England Consolidated List, the U.S. Marshal's Most Wanted List, the German Federal Criminal Police Office's Most Wanted List, the Bureau of Industry and Security (formerly the Bureau of Export Administration) Denied Persons List, Interagency's International Fugitives List, and the U.S. Drug Enforcement Administration's Fugitives List. (For a complete directory of lists currently managed by Innovative, call 800-622-6390.) |
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Powerful Data Quality Management Capability
For any compliance solution to ensure accurate and efficient suspect matching, it must be able to compare consistent data elements against each other. To maximize matching accuracy, i/Lytics SECURE cleanses, parses and standardizes the organization’s own contact data, as well as the data in the suspect lists, in either a real-time or batch environment. By transforming all the records to the same format, and then eliminating anomalies and errors, i/Lytics SECURE maximizes matching speed and precision.
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| In addition, unlike compliance solutions that simply match against the first or primary name in a complex record, i/Lytics SECURE can be configured to identify and break out all the names contained within the record, so that each one can be individually matched against the appropriate lists and/or databases. |
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Enables On-the-Spot Suspect Identification
i/Lytics SECURE can be licensed to run in real-time or batch mode. When utilized in its unique real-time mode, the software can identify potential criminal suspects while an actual transaction is taking place.
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Turnkey Solution
Innovative provides a turnkey solution to suspect matching, including exhaustive cleansing of the suspect lists, and powerful matching technology to identify suspects. Deliverables include detailed reports of matches categorized by degree of similarity/difference; statistical reports of matching activity; and a data file of matched records.
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Powerful, Flexible Matching
Innovative's powerful heuristic matching technology can find matches despite misspellings, transpositions, missing information, nicknames, and initials. It can also identify duplicates with switched name order, address variations, compound organizational elements, acronyms and abbreviations.
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Variety of Deployment Options
i/Lytics SECURE offers full flexibility of deployment. It is available as licensed software in both real-time and batch mode (deployable also via the Internet and Intranet), as a hosted ASP solution, or on a service basis.
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