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LAS and ilogs Aid Financial Industry Compliance with Tough, New EU Anti-Money Laundering Laws

Tuesday 10 February 2004 15:27 CET | News

In an effort to help companies comply with stiff new anti-money laundering laws coming in the European Union, Language Analysis Systems (LAS) has partnered with ilogs based in Rotkreuz/Zurich, Switzerland.

ilogs focuses on business automation and workflow for companies in the compliance area, including UBS, one of the worlds leading financial firms serving a global client base. These companies - car rental outlets, airlines, casinos and the insurance industry - will be required to match names against various watch lists pursuant to stringent laws set to take effect in Switzerland in mid-2004 and eventually the entire European Union. Language Analysis Systems is the recognized leader in providing multi-cultural name recognition software solutions for mission critical applications. LAS has worked with U.S. Intelligence and Border Protection agencies for nearly two decades, developing a revolutionary and patent-pending approach to name matching and searching, going far beyond simplistic Soundex and key-based approaches. Through its agreement with LAS, ilogs will make the following products and services available to its customers: -- Integrated name-checking within the ilogs suite - ilogs will bundle LAS technology into its SourceChecker, FlowChecker, and PhoneticChecker software - expanding multicultural coverage, improving recall, and reducing false positives. -- Reseller of LAS products - ilogs will resell, market, and support the full suite of LAS Advanced Name Recognition products in Europe and the region at large to other software vendors, government agencies, and commercial companies.


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Categories: Payments & Commerce | Payments General
Countries: World
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