Campaign Allows Qualified Firms an Opportunity to Recoup Previous Expenditures
October 13, 2004 - Factor3, Inc. a leading provider of technology products for the financial services industry, today announced a competitive replacement program for companies currently using another provider's OFAC solution. The competitive replacement program allows companies up to a 35% discount off of Factor3's list price for the software until the end of the year. OFACMonitor, built on Factor3's Event Driven Productivity Architecture, can be installed on site, or accessed on an ASP basis.
Factor3's CEO, Peter Gadkowski said, "We have had many companies call us who rushed out to purchase an OFAC solution. Now they are finding that the product does not address their needs either due to the volume of names they need to scan or the underlying technology returns too many false positives which take additional resources to research and resolve".
Leveraging its relationship with Language Analysis Systems, makers of the leading advanced name-recognition software, gives Factor3 a distinct advantage in the OFAC market. The LAS Name Hunter searches for multi-cultural names in a database and provides the most likely variations. A twenty year name recognition industry leader, its advanced technology helped U.S. special agents track the 9/11 terrorists to their Florida connections in the days following the terrorist attacks on the U.S. in 2001.