Coverity Enhances Customer Screening Integrity by Upgrading to FinScan

Pittsburgh, PA, USA - 25 March 2011

FinScan, a leading global provider of sanctions, PEP and heightened risk screening solutions, today announced that Coverity, Inc., a premier international provider of source code analysis software, has upgraded its customer screening solution to FinScan eWatchLine. Coverity will use FinScan eWatchLine to screen customers against a variety of specially designated nationals (SDN), debarred persons and U.S. Department of Commerce suspect entity lists in real time.

Coverity’s precision software analysis accurately identifies defects and security vulnerabilities within critical code. It helps clients enhance the integrity of their software to accelerate time-to-market, reduce risk, and increase customer satisfaction. Coverity serves an international customer base, with headquarters in San Francisco, offices in the UK and Japan, and re-sellers around the globe.

Committed to full compliance with anti-money laundering and anti-terrorism mandates, Coverity initially began performing its screening using an earlier version of the FinScan solution. Upgrading provides the company with more advanced capabilities and more robust operational flexibility.

FinScan helps speed the research and resolution of suspect hits by providing reviewers access to full source data along with the compliance lists and rolling up all variations of a suspect name (e.g., transposed names and alternate spellings) into one profile. It offers clients the ability to customize processing to their unique business needs by permitting users to specify the criteria and parameters used in screening.

“Our transition to FinScan eWatchLine went very smoothly,” said Coverity paralegal, Courtney Browne. “And screening time has been minimized because FinScan is downloaded directly to the desktop simply by clicking an icon on the toolbar, rather than having to access it through the Internet.

“We are a fast-growing company, and our customer base is going to continue to grow, so we like the enhanced level of compliance assurance FinScan provides,” Ms. Browne added. “We’re very careful with whom we do business, but FinScan’s precision and automatic re-screening give us peace of mind that we aren’t missing any matches.”

FinScan’s automatic rescreening strengthens Coverity’s due diligence by screening all records against selected lists on a regularly scheduled basis. This ensures that all new and updated records are continuously screened against the latest compliance data.

“Coverity is a very technically advanced company in a highly sophisticated field,” said Michael Ott, Senior Vice President, FinScan. “We’re very pleased not only to support them in their customer screening commitment, but also that they have selected FinScan as their compliance partner.”

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