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Innovative Systems named a top innovator in the 2025 TabbFORUM NOVA Awards

  • Writer: FinScan
    FinScan
  • Apr 8
  • 2 min read

Updated: Apr 11


April 8, 2025 — Innovative Systems, Inc., provider of data quality, postal coding, application migration, and the FinScan® suite of anti-money laundering (AML) compliance solutions, has been named a top capital markets technology innovator in the third annual TabbFORUM NOVA Awards, which honors 40 organizations for their outstanding recent and sustained achievements in organizational performance, industry impact, and leadership. 


“This recognition from TabbFORUM is a testament to the bold innovation and deep customer focus that drive everything we do at Innovative Systems,” said Deborah Overdeput, Chief Marketing Officer at Innovative Systems, Inc. “By combining next-generation technologies with a relentless commitment to data quality, compliance, and adaptability, we’re not just keeping up with the pace of technology and regulatory change—we’re helping our customers stay ahead of it by continuing to invest in cutting-edge technology.” 


Innovative Systems’ accomplishments over the last year include the following: 


Innovations 

  • Enhanced its real-time payment screening solution, FinScan Payments, to accelerate transactions, support new message messages, and strengthen financial crime prevention 

  • Introduced FinScan Marketplace, a unified AML platform for managing compliance risk and case management via a central hub for all related activities 

  • Expanded FinScan’s Know-Your-Customer (KYC) solution to help financial institutions adopt perpetual KYC by continuously monitoring and holistically viewing customer risk 


Performance 

  • Achieves AML screening times of 200ms and as low as 50ms under controlled conditions, while competitors struggle to offer solutions anywhere close to these performance levels, meeting payment processors’ service level requirements to provide near instantaneous response times 

  • Grew revenue by double digits and its base of new customers in all major geographies, including tier-one insurance firms and fintechs 

  • Averages a 96% revenue retention rate over the last seven years 


Industry impact 

  • “[FinScan’s] scalability, configurability, and centralized capabilities make it the ideal solution to optimize our AML processes and support our growth.” - Paul Blackmore, Head of Financial Crime at Vanquis Banking Group 

  • Consistently helps organizations reduce false positives by 80% and implement compliance data quality initiatives 20% faster than other solutions 

  • While many solutions for global clients struggle with growing data volumes and accelerated processing timeframes, FinScan meets demanding processing windows, including real-time screening when needed, allowing clients to spot customer risk faster. 

  • Became a member of non-profit organization The Knoble to join them in the fight against human crime and financial crime. 


Leadership 

  • Gained industry recognition for its excellence in AML compliance technology by Chartis, Datos Insights, Fintech Global, A-Team, QKS, and others. 

  • Founder, CEO, and Chairman Bob Colonna was named a Top 50 FinTech CEO for 2024 by The Financial Technology Report. 

  • Premier compliance expert and FinScan’s Director of Advisory Services, Steve Marshall, shared his AML and compliance thought leadership at numerous industry events and in the media. 

  • Launched a highly successful Executive Forum led by FinTech industry author and speaker Leda Glyptis.  


Press contact: 

Chanda Shingadia

The Comms Crowd 

Phone: +44 (0)7951 163 615 

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