Back to all announcements

Factor 3 Announces Alliance with COMPLIPLAN

Insurance Companies Will Benefit from OFAC Compliance Technology and Planning

October 5, 2004 - Factor 3, Inc. a leading provider of technology products for the investment management industry, today announced an alliance with COMPLIPLAN, an expert consulting firm focused on the insurance regulatory environment. COMPLIPLAN will introduce Factor 3's OFACMonitor product to existing and prospective insurance company clients.

Factor3's CEO, Peter Gadkowski said, "We are pleased to work with the network of experienced legal, technical, actuarial and compliance-management professionals at COMPLIPLAN. Insurance clients will greatly benefit from this combination of their expertise and the advanced technology of our OFAC Monitor product".

OFACMonitor automatically updates government list name data, so clients always scan customers against the most current lists. The OFACMonitor software product also allows users to screen transactions against the OFAC SDN list. The latest in technological advancements such as artificial intelligence and fuzzy-logic programming techniques ensure that organizations get the most advanced multi-cultural name recognition technology available.

"OFACMonitor incorporates the most sophisticated name-matching technology available," said Scott Lawson, Director of COMPLIPLAN. "With OFACMonitor, companies will be able to zero-in on high-probability matches and avoid the sort of false-positive output that makes other solutions so difficult and costly to manage."