Innovative Systems Debuts Fin-Scan at Anti-Money Laundering Conference
Dedicated business unit provides sanctions and PEP compliance solutions to global financial services firms
PITTSBURGH, March 19 -- Innovative Systems, Inc. (ISI), a leading provider of data quality and regulatory compliance solutions, today announced the launch of Fin-Scan, 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. Fin-Scan 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.
Fin-Scan'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 World-Check, Factiva and Regulatory Data Corporation (RDC) databases. Fin-Scan'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 Fin-Scan represents an important milestone for ISI and our customers," said Murray Dickman, Fin-Scan's chief operating officer. "We're pleased to be introducing Fin-Scan at this important annual AML event. And, we look forward to continuing to extend the Fin-Scan 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
Fin-Scan protects organizations against non-compliance with the world- class data quality and data matching capabilities that are the cornerstone of all ISI products and services.
Fin-Scan helps financial services organizations worldwide meet the requirements of international government regulatory agencies by providing the most advanced sanctions list and PEP compliance solutions available. Fin-Scan 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 Fin-Scan Web site is located at http://www.fin-scan.com/.
About ISI
ISI 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 and data management solutions include the i/Lytics(R) Enterprise Data Quality Suite; i/Lytics GLOBAL(TM) a CASS-certified address verification solution; and Synchronos(TM), a master data management solution for enterprise customer data.
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 http://www.innovativesystems.com/.
Source: Innovative Systems, Inc.
CONTACT:
Kathleen Hondru
Innovative Systems, Inc.
+1-412-937-8217
khondru@innovativesystems.com
Web site: http://www.fin-scan.com/
http://www.innovativesystems.com/
