A2iA and LogicaCMG Join Forces to Block Check Fraud & Money-Laundering.Business Editors/High-Tech Writers NEW YORK & PARIS--(BUSINESS WIRE)--March 4, 2004 A2iA CheckReader With Logi-Tracker Allow Checks to be Analyzed so Fraudulent Transactions & Laundering to be Spotted Immediately LogicaCMG has chosen to integrate A2iA CheckReader into its filtering solution to meet new standards for fighting money laundering and check fraud, handwriting recognition leader A2iA Corp., announced today. LogicaCMG's HotScan product is the leading watch-list filtering solution with 40% of the world's largest banks as customers and installations in four continents. In France, in order to comply with the French CRBF CRBF Comité de la Réglementation Bancaire et Financière (France) CRBF Canada Russia Business Forum CRBF Costa Rica Battlefield Forces (gaming) 2002-01 "check auditing" ruling, LogicaCMG partnered with A2iA to optimize its AML AML - A Manufacturing Language (anti-money-laundering) offerings. These solutions deliver real business benefit, reducing fraud and ensuring compliance with international regulations. A2iA Corp., a worldwide leading developer of natural handwriting and print recognition technology (OCR OCR in full optical character recognition Scanning and comparison technique intended to identify printed text or numerical data. It avoids the need to retype already printed material for data entry. , ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. , IWR IWR Institute for Water Resources IWR Interactive Web Response IWR Internet Weather Report IWR Institute for Water Research IWR Isolated Word Recognition IWR I Will Report IWR Institute for Wood Research IWR Internal Work Request IWR Inter-Works Requisition , OMR (Optical Mark Reader) A scanner that reads marks on specific areas of the page. See mark sensing. OMR - Optical Mark Reader ) is integrating its A2iA CheckReader solution, so that fraudulent transactions and laundering can be spotted by verifying checks against various blacklists. LogicaCMG has been dealing with numerous filtering and behavioral-analysis issues and the new partnership with A2iA gives them a complete offering that effectively meets the requirements of changing legislation. A2iA CheckReader reads checks to make sure that compulsory fields - amounts, payee The person who is to receive the stated amount of money on a check, bill, or note. payee n. the one named on a check or promissory note to receive payment. PAYEE. The person in whose favor a bill of exchange is made payable. name, date, and signature - are properly filled in, and then recognizes amounts (CAR + LAR), the name of the payee, and the address block. This information is forwarded to LogicaCMG's filtering solution, which then compares the fields recognized by A2iA CheckReader, the payee name and the address block, against official blacklists (maintained by GAFI GAFI Groupe d'Action Financière sur le Blanchiment de Capitaux GAFI General Authority for Investment and Free Zones (Egypt) GAFI Gruppo Di Azione Finanziaria Contro Il Riciclaggio di denaro , OFAC OFAC Office of Foreign Assets Control (US Treasury) OFAC Ontario Farm Animal Council (Canada) OFAC Olmsted Falls Airport Committee OFAC Organic Fertilizer Association of California , and the "Journal Officiel", among others) and internal blacklists, which are maintained by customers. "Today's tougher legislation requires all financial institutions such as banks, stock exchanges, insurers, credit institutions, and others, to audit check transactions," said Thierry Siouffi, chief executive officer of LogicaCMG in France. "Their audits are currently done manually, meaning that processing costs are high and capacities are inadequate. Automating this function boosts the efficiency and relevance of check audits and increases processing volumes. Integrating A2iA CheckReader into our AML offer gives us a complete anti-laundering solution." "Our expertise in accurately locating and capturing written information from checks allows A2iA and LogicaCMG to provide banks with a cost-effective technology that automatically helps combat fraud and money laundering," said Jean-Louis Fages, chief executive officer & president of A2iA Corp. "French banks are now able to accurately comply with the CRBF 2002-01 "check auditing" ruling. Thanks to LogicaCMG's presence in global banking markets, we hope to adapt this solution to the needs of financial institutions around the world." About A2iA Corp. A2iA (Artificial Intelligence & Image Analysis), founded in 1991, headquartered in New York and Paris, is a leading developer of technology for reading machine print and natural handwriting, including cursive handwriting from paper documents. A2iA's focus is on recognition for payment systems and paper-intensive industries and their two leading products, A2iA CheckReader and A2iA FieldReader, are helping businesses reduce their data-entry costs. A2iA CheckReader and A2iA FieldReader combine the company's OCR, ICR and Intelligent Word Recognition technologies with its artificial intelligence and neural network systems, making it the most comprehensive advanced recognition engines on the market today. For more information: www.a2ia.com. About LogicaCMG LogicaCMG is a major international force in IT services and wireless telecoms. It provides management and IT consultancy, systems integration and outsourcing services to clients across diverse markets including telecoms, financial services, energy and utilities, industry, distribution and transport and the public sector. Formed in December 2002, through the merger of Logica and CMG CMG Coastal & Marine Geology (USGS) CMG Chipotle Mexican Grill, Inc. (stock symbol) CMG Companion (of the Order Of) St Michael and St George CMG Computer Measurement Group , the company employs around 21,000 staff in offices across 34 countries and has nearly 40 years of experience in IT services. Headquartered in Europe, LogicaCMG is listed on both the London and Amsterdam stock exchanges (LSE LSE - Language Sensitive Editor : LOG; AEX AEX See: Amsterdam Exchange : LOG). More information is available from www.logicacmg.com. |
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