Fin-Scan Offers Hosted PEFP Screening Service for Canadian Financial Institutions



    
    Affordable solution to comply with Bill C-25's new screening requirements
    

    PITTSBURGH, Feb. 20 /CNW/ -- Fin-Scan, a leading provider of sanctions
list and PEP compliance screening solutions for the financial services
industry, today announced that its Hosted PEFP Screening Service is available
for Canadian institutions seeking to comply with the provisions of Bill C-25,
Canada's updated Anti-Money Laundering (AML) and Anti-Terrorist Financing
(ATF) regulation.  Under the new law, financial firms are required to screen
clients for Politically Exposed Foreign Persons (PEFPs). The deadline to meet
this new screening requirement is June 23, 2008.
    
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20070319/CLM213LOGO )
    
    Fin-Scan now offers Canadian banks and financial services firms a
complete and affordable PEFP screening solution, including an
internationally-accepted PEFP list which is used by financial institutions in
Canada, the US and Europe. The hosted service can be easily integrated into
the account opening process and enables institutions to periodically re-screen
all customer records to ensure compliance with Canada's new AML and ATF
requirements.
    "Fin-Scan developed this service to help Canadian firms meet the fast
approaching deadline," said Murray Dickman, Fin-Scan's chief operating
officer. "We realize that Canadian companies want to reliably comply with C-25
in the most economical way possible. This service delivers all the protection
and control of an in-house screening solution without all the costs that are
associated with installing and running licensed software. It's an all-in-one
solution for screening new and existing customers for known PEFPs and
sanctioned entities. Clients simply initiate the screening and review the
results. Fin-Scan does the rest."
    Used in more than 1,000 projects worldwide, Fin-Scan's robust screening
technology enables organizations to screen client records using very precise
rules determined by the financial institution. This process significantly
reduces the risks and costs associated with missing important matches (false
negatives) and researching excessive preventable matches (false positives).
    
    About Fin-Scan
    
    Fin-Scan helps financial services organizations worldwide meet the
requirements of 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.
    Fin-Scan protects organizations against non-compliance with the world-
class data quality and data matching capabilities that are the cornerstone of
all the Innovative Systems Inc. (ISI) products and services. The Fin-Scan Web
site is located at www.fin-scan.com.
    
    About Innovative Systems, Inc. (ISI)
    
    Innovative Systems 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 www.innovativesystems.com.
    
    Trademark Notice
    
    i/Lytics, i/Lytics GLOBAL, Synchronos and Fin-Scan are trademarks of
Innovative Systems, Inc.   All other products or company names are used for
identification purposes only, and may be trademarks of their respective
owners.




For further information:

For further information: Kathleen Hondru, Innovative Systems, Inc., 
+1-412-937-8217, khondru@innovativesystems.com Web Site:
http://www.fin-scan.com                  http://www.innovativesystems.com/

Organization Profile

FIN-SCAN

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INNOVATIVE SYSTEMS, INC.

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