- Integration of high accuracy Arabic translation enables OFAC
compliance for NCB Capital -
CAMBRIDGE, Mass.--(Business Wire)--
Basis Technology today announced the integration of the Rosette
Name Translator into NCB Capital's financial compliance system for
matching Arabic names against the OFAC watch list. This technology
enables NCB Capital to automatically translate names from Arabic into
English with high accuracy to reduce the number of false positives
when matching against watch lists.
The Rosette Name Translator is a fully-automatic translation
engine for names of people, places, and organizations. It offer
financial institutions a practical way to comply with regulatory
standards for the millions of names and dozens of languages present in
their customer databases.
"We're really impressed with the Rosette Name Translator's
capabilities and how it has improved our OFAC name checking process,"
said Peter Wilkinson, VP of Application Development at NCB Capital.
"It translated 330,000 Arabic names into Roman script very quickly,
consistently, and accurately."
"The Rosette Name Translator was built to statistically identify
words that represent a person's name in different ways, so you don't
need actual humans to specify all those possible variations nor does
the computer have to make potentially billions of naive comparisons,"
said Benson Margulies, CTO of Basis Technology. "That's why it takes
less time achieving accurate results that produce much more scalable
results."
The Rosette Name Translator is designed for rapid integration into
software systems for anti-money laundering, Know-Your-Customer, PEP
screening, homeland security, border control, and risk prevention. It
currently supports Arabic, Chinese, Japanese, Korean, Pashto, Persian,
and Urdu languages.
About Basis Technology
Basis Technology provides software solutions for text analytics,
information retrieval, and name resolution in many languages. The
company's Rosette(R) Linguistics Platform is a widely adopted suite of
interoperable components that delivers high performance results to
search, business intelligence, e-discovery, and many other enterprise
applications. Basis Technology is on the forefront of applied natural
language processing solutions using a combination of statistical
modeling, expert rules and corpus-derived data.
Leading software vendors, content providers, financial
institutions, and government agencies rely on Basis Technology's
solutions for Unicode compliance, language identification,
multilingual search, normalization, name matching, name translation,
and entity extraction. Our products and services are used by over 250
major firms, including Cisco, EMC, Endeca, HP, Microsoft, Oracle, and
Symantec. Our text analysis products are widely used in the U.S.
defense and intelligence industry by such firms as CACI, Lockheed
Martin, MITRE, Northrop Grumman, SAIC, and SRI. We are also top
provider of multilingual search technology to web search engines, such
as AOL, Ask.com, Google, Windows Live, and Yahoo.
Company headquarters are in Cambridge, MA, with branch offices in
San Francisco, California; Herndon, Virginia; and Tokyo, Japan. For
more information, visit www.basistech.com or call 800-697-2062.
Basis Technology
Stacy Gianakura, 617-386-2050
press@basistech.com
Copyright Business Wire 2008
