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FinScan Announces Hosted Compliance Solution Contract
with Ashburton (Jersey) Ltd.
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Leading Investment Management Firm to Perform
Sanctions and PEP Screening in Compliance with 3rd EU Directive |
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London, United Kingdom – June 16, 2009 – FinScan, a leading provider of sanctions list, PEP and heightened risk screening solutions for the financial services industry, today announced Ashburton (Jersey) Ltd, part of the FirstRand Group, a premier investment management firm serving an international client base, has gone live with the latest version of the FinScan hosted screening service. Subject to the jurisdiction of Jersey in the Channel Islands, Ashburton chose the FinScan Hosted compliance solution to help reduce enterprise risk and meet the heightened screening requirements of Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) regulations of the 3rd EU Directive. |
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The solution chosen by Ashburton includes FinScan’s Hosted Screening service as well as a subscription to the FinScan List Management service. Ashburton will screen new and existing customers against the World-Check data file consisting of Sanctions, Politically Exposed Persons (PEPs), and Heightened Risk Entities data sources. |
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FinScan’s “intelligent” matching will improve Ashburton’s screening accuracy and help reduce the significant effort often required to review sanctions and PEP screening results. |
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Ashburton’s Client Services Manager, Louise Wilson, commented that, “Finscan’s solution has been implemented efficiently and effectively. It is simple to use and the support staff are terrific. A great compliance tool.” |
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“This is an excellent application for FinScan’s global capability, providing a single solution that can operate across multiple jurisdictions with a rapid implementation,” said John Haley, FinScan sales and marketing manager. “We look forward to working closely with the FirstRand Group in Jersey, Guernsey and South Africa to meet their compliance needs.” |
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Used in thousands of projects worldwide, FinScan’s robust matching engine 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 minimises the time and cost associated with researching false matches (false positives). |
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About Ashburton (Jersey) Ltd
Ashburton (Jersey) Ltd is an investment Management arm of FirstRand, one of South Africa's largest, JSE-listed financial services groups. Headquartered in Jersey (Channel Islands), with representative offices in Cape Town, Dubai, Johannesburg and London, Ashburton is an active investment manager, delivering a focused range of products to intermediaries, institutional investors and private clients using a distinctive investment philosophy. |
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Ashburton's long tradition of providing consistent returns and superior client service based on their active and unconstrained methodology is applied throughout their range of funds and across multiple asset classes. This has enabled them to nurture and build wealth for their clients for more than a quarter of a century. |
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About FinScan
FinScan 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. 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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Company Press Contact:
John Haley
Innovative Systems, Incorporated
Tel: +44 (0) 1483 730446
jhaley@innovativesystems.com |
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Trademark Notice
i/Lytics, i/Lytics PostLocate, Synchronos and FinScan 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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