 |
| The number and scope of government regulations continues to grow, adding increased burdens on your administrative, operational and IT resources — and there is no indication that this trend will be reversed any time soon. In addition to the corporate responsibility requirements of Sarbanes-Oxley and privacy-related regulations like Do-Not-Call, organizations must comply with a growing array of anti-terrorist and anti-money laundering mandates such as the Office of Foreign Assets Control's (OFAC) SDN; USA PATRIOT Act; Bank of England Sanctions List; UK Anti-Terrorism, Crime and Security Act 2001; Common Foreign and Security Policy (CFSP): and EU and UN Security Council Resolutions. |
|
| Financial services organizations have additional compliance mandates to deal with, including the Bank Secrecy Act, Know Your Customer (KYC), Financial Action Task Force (FATF); HM Treasury, Graham-Leach-Bliley, Basel II and the requirements for demutualization. And insurance companies must soon meet Multiple Death Benefits regulations, as well as Customer Identification Program (CIP) requirements. |
|
Reducing the Risks of Non-Compliance Through Data Quality
High quality, accurate data is fundamental to meeting the requirements of all these compliance-related mandates and regulations. Whether you're matching customer records against Specially Designated Nationals (SDN), international sanctions, or Do-Not-Call lists; taking responsibility for the decisions made by your organization; or verifying your organization's liquidity levels, you want to be sure your efforts are supported by accurate, reliable information. If your reports indicate that you are in compliance, but the underlying data is flawed, where do you really stand?
|
|
Proven Precision
Innovative can deliver the levels of enterprise data quality you need to have confidence in your compliance initiatives. The precision of our end-to-end data profiling, data integration and customer data quality management solutions have been proven for 37 years by the global banking industry — for whom accuracy is paramount because of the financial implications of an error. We help ensure the accuracy and quality of your enterprise data by:
|
|
• |
|
Profiling data within legacy and application systems to identify errors and anomalies that degrade quality and reliability |
|
|
|
• |
|
Seamlessly integrating databases to reduce redundancy and facilitate the sharing of business, analytical and operational data enterprise-wide |
|
|
|
• |
|
Merging, standardizing, cleansing and de-duplicating customer records from across the organization to create consolidated customer profiles for a single enterprise customer view |
|
|
|
• |
|
Quickly and accurately matching customer records against virtually any suspect or sanctions list, industry watch list, internal security list or Do-Not-Call list, and automatically producing tracking reports and audit trails |
|
|
|
• |
|
Establishing procedures and schedules to ensure that data quality is systematically monitored and maintained on an ongoing basis |
|
|
Powerful and Flexible
Our data quality management solutions are powerful enough to meet the needs of some of the world's largest financial institutions and most highly respected customer-focused organizations, yet they can also be customized to serve smaller, regionally-based firms dedicated to enhancing their data quality and accuracy.
|
|
| Our compliance solutions are available as traditional licensed software, on a service bureau basis, or as a hosted ASP solution. |
|
| With the ever-changing and expanding nature of government regulations, you want to be sure to select a solution that has the power and flexibility to adapt to changing demands, as well as to your organization’s growth. Selecting a solution that simply meets your needs today will likely leave you looking for a new solution in the near future. |
|
|
