Welcome!

News Feed Item

Fin-Scan Expands Global Reach with New German Office

PITTSBURGH and MANHEIM, Germany, Feb. 3, 2014 /PRNewswire/ -- Fin-Scan GmbH, a member of the Innovative Group headquartered in Pittsburgh, PA announced the opening of its office in Manheim, Germany and its hosting facility in Frankfurt.  The new facilities were developed to provide services to Fin-Scan's rapidly growing European client base, and they complement the Group's other facilities in Pittsburgh, Cayman Islands, Canada, and London, UK.  Fin-Scan is a German registered company offering clients the protection of German data privacy laws.

The Innovative Group has been serving Europe's leading financial and insurance institutions, gaming organizations, charities, and other industries for more than 25 years.  Client concerns regarding customer privacy drove the decision to open the new facility in Frankfurt, where clients are provided the protection of German rules and regulations.

With the new data center, European clients have the option of secure Software as a Service (SaaS), or "hosted," processing for the Innovative Group's five business lines: Data Quality, Master Data Management (MDM), Data Discovery and Profiling, Address Validation, and, especially, customer-focused sanctions and Politically Exposed Persons (PEP) list screening to meet the requirements of the Third EU Directive.

"Facing government compliance mandates, many European firms are interested in a proven solution that offers ease of implementation and is cost-effective," explained Michael Ott, Innovative's senior vice president.  "Our Fin-Scan Hosted PEP and sanctions screening solution has been used by clients since 1998 and utilizes best practices developed over years of experience.  Clients can now choose from any of our sites to transmit their data.  They can license solutions or use the Internet to reach secure servers to match their customers against their preferred sanctions or PEP database, using matching parameters they define.  All suspect 'hits' are returned to them in a case management tool for review."

Clients are able to tune Innovative's software to meet their definition of quality.  Innovative's professional services group assists in the set up process so that production can be done on demand and data is returned in the matter specified by the client.  Compared to the traditional model of licensing and operating software solutions in-house, Innovative's hosted processing significantly reduces the client's investment as well as the ongoing demands on their internal personnel and hardware resources.

"We're very pleased to provide our European clients with the added service and security offered by our Frankfurt data center," said Bob Colonna, Innovative Group's president and CEO. "Having a secure data center in Germany protected by EU data privacy laws enables us to offer European organizations the valuable option of hosted processing to meet their data quality and PEP screening needs."

About the Innovative Group

The Innovative Group is a global leader in the development and delivery of high-performance enterprise data management solutions to organizations whose success depends on a complete and accurate understanding of their customers. The Company's offerings include software and services for Data Quality; advanced Data Discovery and Data Management; Address Validation and Geocoding for mainframe and open systems; MDM; Data Governance; Sanctions and PEP List Screening, CIP/KYC programs, and document verification; and specific-purpose business support applications to reduce credit losses, identify better prospects, improve customer service, better align service channels to customer value and more.

Since 1968, the Innovative Group has set the standard for designing and managing customer-centric projects, having created thousands of customer databases utilizing the firm's data models, consulting services, and data quality software.

The Innovative Group has its global headquarters in Pittsburgh, Pennsylvania, EMEA headquarters in London, additional sites in Germany, Canada, and the Cayman Islands, and representatives in Mexico, Brazil, Colombia, the Netherlands, Norway, and South Africa. Its software supports Windows, UNIX, and IBM operating systems. Its screens can easily be adapted to any language, and its software supports Unicode. Innovative's cloud-based solutions are used in more than 40 countries and process over eleven billion customer records annually.  www.innovativesystems.com.

About Fin-Scan
Fin-Scan helps organizations of all sizes comply with the anti-money laundering and anti-terrorism mandates of the 3rd EU Directive and other UK and international regulations by providing powerful, yet cost-effective, solutions for screening any volume of records – from several million to individual ad hoc checks. Utilizing the world-class data quality and data matching capabilities that are the cornerstone of all Innovative products and services, Fin-Scan facilitates the efficient and accurate screening of large volumes of records with very precise, user configurable rules for flagging suspicious records. It integrates smoothly with all third-party PEP databases, facilitates client onboarding, provides lists and 24/7/365 list management services, and helps ensure the accuracy and validity of SWIFT and other payment transaction processing. Fin-Scan's flexible delivery options include licensed or Software as a Service (including web services), desktop, and appliance.  www.finscan.com.

SOURCE The Innovative Group

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, will compare the Jevons Paradox to modern-day enterprise IT, e...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...