Pitney Bowes' Group 1 introduces Global Sentry

An advanced matching engine featuring sophisticated cultural interpretation helps companies avoid business interactions with high-risk individuals.

Group 1 Software, a Pitney Bowes Company, has launched Global Sentry, an automated solution that works in conjunction with a customer's existing applications to monitor incoming transactions and identify customers who may be on US and international watch lists, such as those maintained by the US Office of Foreign Assets Control (OFAC).

"Around the world, governing bodies are becoming ever more vigilant in monitoring the movement of funds associated with known criminals, including terrorists and drug traffickers, among others," said Jay Bourland, vice president and general manager of Customer Data Quality and Data Integration for Group 1 Software.

"As part of these efforts, governments are cracking down on companies who do business with designated countries, individuals and organisations on published watch lists.

"Failure to compare customer information against these watch lists can lead to public embarrassment, damage to brand equity, significant fines, and lawsuits".

Group 1 Software's Global Sentry automates the identification process by providing consolidated, structured, and optimised watch lists from various countries.

Robust matching and scoring algorithms handle variations in data supplied, while a knowledgebase supplies an understanding of names across 120 cultures.

Global Sentry can also be extended to any external or internal fraud database.

Featuring a powerful and flexible rules-based matching engine, Global Sentry gives full control and visibility for business analysts and compliance officers to modify rules to meet the needs of their organisation without requiring any development effort.

Powered by Group 1 Software's field-proven Customer Data Quality (CDQ) Platform, Global Sentry provides pre-configured and optimised rules for matching against the normalised and consolidated watch lists from OFAC, the Office of the Superintendent of Financial Institutions (OSFI) in Canada, the European Union, and the Bank of England.

Matches are performed against Country, Name, Address, ID, and other information, such as date of birth, to provide a "Risk Score".

This "Risk Score" allows the organisation to make the right choice before deciding to block a particular transaction and avoid false positive results.

The solution also offers fuzzy matches to allow for cultural differences in the spelling of a name.

"Given the discrepancies in spellings, titles, and first-name, last-name order than can exist in customer data, Global Sentry's deep cultural understanding and powerful matching engine are key to correctly identifying high-risk individuals," concluded Bourland.

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