I want the best for the least. Not asking too much right?
I am looking for a software database that can be matched against the OFAC downloaded list. I know ITI has one but wondered if anyone knows of other ones that are available and how costly are they? I am not thinking about ones that you do a search on since there are too many AKA's in the list and that makes it hard to be sure you have typed all the possibilities in. Thanks

Have you checked with your service provider? We use Jack Henry. I like their OFAC Filter System.

Opinions are mine not my employer

We use Bridger Systems - OFAC Analyser. We download the CIF from ITI and run it through the Software. You can set the sensitivity level either lower or higher to make sure you either capture any "near" hits or elimiate too many false positives.

You can check out their website at http://www.ofaccompliance.com

Thompson Financial and Attus also have similar programs, but I am not familiar with them.

Has anyone figured out why the powers that be at OFAC can't send out the list on CD Rom like the state sends out child support information? It could then be compared in house with little outside expense.

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ecl

We just pulled together a partial list of vendors for our own purposes:

Attus Group, Inc. http://www.attus.com/

Bridger Systems http://ofaccompliance.com/

Darien Consulting Group, Inc. http://www.darien-systems.com/

Fircosoft http://www.fircosoft.com/

Innovative Systems http://www.innovativesystems.net/

Logica http://www.logica.com/

Thompson Financial Publishing, IL et al http://www.tfp.com/

Our firm has no business relationship with any of these vendors and has not performed any sort of due diligence regarding their services. I do note, with appreciation, Attus supports this web site.

[This message has been edited by Ken/Pegasus (edited 01-10-2002).]

Is there a Metavante(M&I)customer out there who is currently using one of these interdiction products? I would be interested in hearing from you to learn how difficult/easy the download was from that system. Thank you!

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All opinions expressed are my own and not those of my employer.

I am with a Metavante (M&I) bank and we currently request a full file comparison on a quarterly basis as a backup to our daily monitoring routine. They also offer a daily comparison that will compare your new customers to the list on a daily basis. It is very simple, we submit the request and they send us a report which is printed and reviewed. They have recently improved the reports to include the ofac name that your customer supposedly matches. In addition, they have added the names from the "control list" to their data base.

They seem to have increased the sensitivity of the report since 9-11 because we are getting quite a few more matches than we previously did and some of the names are not even close.

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Opinions stated are not necessarily that of my employer.

Yes, I'm aware of that enhancement. We have 11 banks in our company. It is rather expensive to use it as you describe. Most of the interdiction software I've looked at would not cost quite as much. However, time and effort must be considered as a cost. So, I was trying to locate someone with our DP who may have already written a download.

[This message has been edited by Louvera (edited 01-14-2002).]