New Autonomy World-Check Integration Alerts Banks To High-Risk And Dubious Accounts
Service will also help in fight against global money laundering
CAMBRIDGE, England, 29 October 2001 - Autonomy Corporation plc (Nasdaq: AUTN; Nasdaq Europe: AUTN; LSE: AU.), a global leader in infrastructure software for the enterprise, today announced that it has been integrated into a new web-based service, World-Check, to help banks and other financial institutions reduce risk in account opening and to save time in background checks and client audits.
Already used by more than 40 institutions in 15 countries to maintain more than 41,000 profiles, World-Check, a service provided by Global Objectives Ltd., has deployed Autonomy's technology to automatically identify, review and hyperlink the back-end information used to build and maintain the World-Check site. Autonomy's ability to bring together related information from hundreds of sources - including official government, intelligence and police sites, international research and academic groups and the international media - enables World-Check service to provide users with relevant and critical information without time-consuming and costly manual editorial intervention.
Richard Gaunt, co-founder and CTO, Autonomy Corporation, commented: "With its extensive content and varied information sources, World-Check is a shining example of Autonomy's strengths, including scalability, conceptual intelligence and the integration of information through true understanding of its content. We are very pleased that World-Check establishes Autonomy's technology further in the banking and finance vertical, where we can already point to clients such as Lloyds TSB, ABN Amro, HSBC, Deutsche Bank and many others."
David Leppan, Director, Global Objectives, said: "The ability to automatically assemble and manage critical information relating to questionable and high-risk account holders is, now more than ever, a burning issue in the banking industry. Regulators are cracking down on global money laundering and there is a need for technologies to enforce these rulings. World-Check has a profound understanding of the kind of information needed to support decisions in this area, and we are delighted to be increasing the efficiency and reducing the costs of collating that information using Autonomy. In our opinion, Autonomy is the natural technology choice for scalable, multi-source information infrastructures of this type, beating legacy search engines hands down."
At the heart of Autonomy's software is its ability to analyse text and voice and identify and rank the main concepts within it. It can then automatically categorise, link, personalise and deliver that information. Using Autonomy, the information that applications need becomes independent from the data source. This ability to universally interrelate disparate applications, without the need for middleware or XML, is known as Integration Through Understanding; the technology behind it is Autonomy's Interactive Data Operating Layer (IDOL). The technology is used to automate operations within enterprise information portals, customer relationship management, knowledge management and e-business applications, among others.
About Autonomy
Autonomy Corporation plc (Nasdaq: AUTN; Nasdaq Europe: AUTN; LSE: AU.) is a global leader in infrastructure software for the enterprise. Autonomy's technology powers applications dependent upon unstructured information including: e-commerce, customer relationship management, knowledge management, enterprise information portals, enterprise resource planning and online publishing. Autonomy's customer base includes more than 475 global companies, including Astra Zeneca, British Aerospace, Clorox, Deutsche Bank, Ericsson, General Motors, Lucent, Royal SunAlliance, Sun Microsystems and public sector agencies including the United States Department of Defense, NASA and the United States Department of Energy. Strategic reseller and OEM partners include leading companies such as BEA, Business Objects, Hewlett Packard, IBM Global Services, Oracle, Vignette and Sybase. The company has offices in North America, Europe, Asia and Australia and is on the Web at http://www.autonomy.com/.
About Global Objectives
Global Objectives Ltd is a unique provider of global compliance data in the area of customer identification to the banking industry. Identification and media monitoring of Heightened Risk Individuals is core to the World-Check Service. Global Objectives' in-depth understanding and close working relationship with Compliance Officers, Regulators and Enforcement Agencies around the world has culminated in an anonymous and 'live' online KYC service - https://www.world-check.com/.
Caution Concerning Forward-Looking Statements
With the exception of historical information, the matters set forth in this news release are forward-looking statements that involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. These factors include, among others, technology risks, including dependence on core technology; fluctuations in quarterly results; dependence on new product development; rapid technological and market change; reliance on sales by others; management of growth; dependence on key personnel; rapid expansion; growth of the Internet; financial risk management; and future growth subject to risks. These factors and other factors which could cause actual results to differ materially are also discussed in the company's filings with the United States Securities and Exchange Commission, including Autonomy's Annual Report on Form 20-F and Registration Statements on Form F-1.
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