ABA ENDORSES PATRIOT OFFICER® AS THE BEST RULE-BASED,
RISK-WEIGHTED INTELLIGENT BSA/AML/ATF SOFTWARE SYSTEM
Los Angeles, CA – December 19, 2005 – GlobalVision Systems announced today that,
after almost one year of intensive and careful evaluation of all the leading national BSA/AML solutions,
the American Bankers Association (ABA) has endorsed GlobalVision’s PATRIOT Officer, as the best-in-class
rule-based, risk-weighted intelligent BSA/AML/ATF software solution for ABA members and the industry.
In recent years, government agencies have required financial institutions to strengthen their Anti-Money
Laundering (“AML”) and Anti-Terrorist Financing (“ATF”) programs in accordance with the Bank Secrecy
Act (“BSA”), the USA PATRIOT Act, and the requirements set by Office of Foreign Assets Control (“OFAC”).
As a result, obtaining the best BSA/AML/ATF solution has become a high priority for financial institutions across the nation.
However, with various BSA/AML/ATF software systems available on the market today, identifying the best BSA/AML solution can be a daunting task.
The ABA and its affiliate, the Corporation for American Banking (CAB) conducted a thorough review
of leading national providers, which included an independent consultant evaluation from Sheshunoff Management
Services and feedback from ABA members of various asset sizes.
“After a very careful and extensive evaluation of leading national BSA/AML transaction monitoring solutions,
ABA is pleased to announce its endorsement of the PATRIOT Officer,” noted John
Wolff, CAB’s Executive Director. "This endorsement signifies our confidence that GlobalVision's
PATRIOT Officer has been thoroughly researched, tested and approved by bankers to
support the needs of large institutions and community banks.
PATRIOT Officer uses an advanced rule-based intelligent system with Dynamic Multidimensional
Risk-Weighted Suspicious Activities DetectorTM (Patent Pending) that automates the entire risk-based BSA/AML
process of financial institutions by monitoring, detecting, investigating and analyzing suspicious activities across all product
lines with the highest resolution and most accurate results. PATRIOT Officer empowers financial institutions
to efficiently and effectively comply with the new BSA/AML Examination Manual published by FFIEC in June, 2005.
Instead of using labor-intensive and time-consuming legacy software, hundreds of financial institutions across the nation are
utilizing the PATRIOT Officer to pass examinations smoothly while increasing their competitive advantages.
“American Bankers Association is the largest and most respected authoritative bankers association in the nation.
We are deeply honored that ABA has decided to endorse and recommend the PATRIOT Officer
to its members,” said Oliver Song, President and CEO of GlobalVision Systems, Inc. “More than 60% of the core
banking system vendors and data centers in the nation are endorsing and reselling the PATRIOT Officer
as the #1 BSA/AML/ATF software solution. It is our great honor to receive such high recognition from ABA, reaffirming
the belief of our partners. We look forward to further strengthening our homeland security through the distinguished ABA
by providing the best rule-based, risk-weighted intelligent BSA/AML/ATF solution – the PATRIOT Officer to ABA members.”
About GlobalVision Systems, Inc. GlobalVision Systems, Inc., based in Los Angeles, California, is the leading provider of BSA/AML/ATF software to financial institutions Thousands of compliance professionals are already using GlobalVision’s renowned product – the PATRIOT Officer – to automate their BSA, AML and ATF processes. Being used by financial institutions with a wide range of asset sizes, the PATRIOT Officer is highly recommended by compliance professionals across the nation as the most advanced, comprehensive, intelligent and fully integrated BSA/AML/ATF software. The PATRIOT Officer is endorsed by more than 60% of core banking system vendors and data centers, covering all time zones in the USA.
About American Bankers Association
The American Bankers Association, on behalf of the more than
two million men and women who work in the nation's banks, brings
together all categories of banking institutions to best represent the interests
of this rapidly changing industry. Its membership - which includes community,
regional and money center banks and holding companies, as well as savings associations,
trust companies and savings banks - makes ABA the largest banking trade association in the country.
