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Innovative Systems’ Hosted Service Transactions Surpass
One Billion Mark in Last 12 Months
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World-class data processing performance drives 77 percent annual growth |
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PITTSBURGH, PA – March 5, 2009 – Innovative Systems, Inc. (ISI), a leading provider of data quality, sanctions, CDI and business support solutions worldwide, today announced that its hosted services division processed more than one billion transactions for its clients over the 12 months ending January 2009. The new mark represents a 77 percent increase over the previous year’s total, reflecting the growing popularity of hosted services among ISI’s data quality and compliance customers alike. |
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ISI’s hosted services uses a SaaS (software as a service) model in place of more traditional software licensing. With hosted processing, clients send their data over secure lines to a secure SAS 70-compliant ISI data center. There, ISI processes the data according to the client’s specifications and then sends back the updated files or, in the case of compliance screening, any suspected matches. |
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Many organizations choose hosted processing to enable them to gain the benefits of sophisticated data processing software on an economical, pay-as-you-go basis -- while avoiding investment in the substantial start-up expenses associated with software licensing, including licensing fees, software implementation, hardware and infrastructure, training and ongoing maintenance. It is also a practical choice for organizations that require intensive customer data quality processing for only a specific, one-time or periodic purpose, such as a merger or acquisition, data migration or integration, or in preparation for a major direct marketing initiative. In addition, many organizations, especially those in the financial services sector, are turning to hosted processing as a fast, easy and very economical way to comply with the growing array of national and international suspect, sanctions and PEP list screening mandates. |
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"We’re very pleased to see the momentum building for our hosted processing services in compliance and data quality," said Bob Colonna, ISI president and CEO. “Hosting is an excellent option for many of our clients, because for them it is exceptionally simple, efficient and cost-effective. With our FinScan Hosted compliance service, for example, even the largest organizations can have a highly sophisticated solution that meets all of their screening needs fully up and running in a matter of days. For them, it’s a win any way you look at it,” Colonna continued, “and this fits with our business model of providing immediate economic return to our clients.” |
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ISI currently provides hosted processing for clients in Mexico, US, Canada, South Africa, the Channel Islands and Great Britain. To ensure the privacy of all customer data processed, ISI maintains SAS 70-secure data centers in two countries, and to assure customer privacy, complies with the Safe Harbor Privacy Provisions on Data Protection and adheres to the 10 principles of the UN Global Compact. |
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About FinScan
As the compliance business division of Innovative Systems, Inc., (ISI), FinScan protects organisations against non-compliance with the world-class data quality and data matching capabilities that are the cornerstone of all ISI products and services.
FinScan helps financial services organisations worldwide meet the requirements of international government regulatory agencies by providing the most advanced sanctions list and PEP compliance solutions available. FinScan 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.
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About Innovative Systems, Inc. (ISI)
Innovative Systems is a global leader in delivering enterprise customer information solutions to organizations whose success depends on a complete and accurate understanding of their customers. ISI's solutions include the i/Lytics® Enterprise Data Quality Suite; i/Lytics PostLocate™, a CASS™ certified address validation and geocoding solution; Synchronos™, ISI’s CDI and enterprise customer management solution; FinScan™ for sanctions and PEP list screening; 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. |
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| 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 for creation and maintenance of customer data. ISI’s work has included clients 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. |
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Company Press Contact:
Karin O'Sullivan
Innovative Systems, Inc.
Tel: +1 (412) 937 7678
kosullivan@innovativesystems.com |
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Trademark Notice
i/Lytics, i/Lytics PostLocate™, FinScan and Synchronos 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. |
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