
FOR IMMEDIATE RELEASE
ITI Unit of Fiserv and GlobalVision Team To Provide Integrated
Regulatory Risk Management; Premier Patriot Officer a Cost Effective Banking
Compliance Solution
Lincoln, NE | May 23, 2005
An agreement announced today between Information Technology, Inc. (ITI), a
subsidiary of Fiserv, Inc. (Nasdaq:FISV), and GlobalVision Systems, Inc., will
provide bankers with an advanced solution to help them comply with federal
requirements outlined in the USA PATRIOT Act and Bank Secrecy Act (BSA).
Through this alliance between ITI, a top provider of
financial technology software and services, and GlobalVision Systems, a supplier
of knowledge-based business management systems, financial institutions using
ITI's PremierR banking software now have the opportunity to deploy a
comprehensive regulatory risk management system called Premier Patriot Officer.
"In this era of tightened security measures and laws to
combat fraudulent activities and terrorism, our clients are under increased
pressure to meet federal requirements," said ITI Senior Vice President
Jamie Deterding. "Premier Patriot Officer provides financial institutions
with a powerful tool to help eliminate compliance risks, while at the same time
saving them time and money."
Premier Patriot Officer uses knowledge-based artificial
intelligence to establish a comprehensive set of algorithms to detect suspicious
activities. It keeps five years of detection, exemption and investigation
records, reasons for not filing specific reports and all the reports that have
been filed with the Financial Crimes Enforcement Network (FinCEN). Furthermore,
it produces various reports for regulators' examinations, risk management and
auditing purposes.
In addition to automating the detection, investigation,
monitoring and filing of Suspicious Activity Reports, Premier Patriot Officer
also helps identify high-risk customers through multidimensional risk scoring.
"All wire transfers are confirmed and SWIFT transactions are evaluated
against the list published by the
"We value our alliance with ITI and look forward to
continuously strengthening our national security with superior technology,"
said
GlobalVision Systems, Inc. (GlobalVision) is well-known for
offering knowledge-based products that empower executives and managers of
financial institutions to manage risk exposure, monitor business activities,
maximize business profits, optimize return on investment, analyze business
problems, establish strategies, improve product performance and perform
corporate planning. Based in
Information Technology, Inc. (ITI), a subsidiary of Fiserv,
Inc., provides
Fiserv,
Inc. (Nasdaq: FISV) is a provider of information management systems and services
to the financial and health benefits industries, including transaction
processing, outsourcing, business process outsourcing and software and systems
solutions. The company serves more than 16,000 clients worldwide, including
banks, credit unions, financial planners/investment advisers, insurance
companies and agents, self-insured employers, lenders and savings institutions.
Headquartered in