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MicroEdge Announces Release of GIFTS Watchlists Plus to Automate Regulatory Compliance
Addition to GIFTS Plus Pack. NET Extension helps reduce risk to foundations and investment assets due to non-compliance with government laws
New York, July 18, 2007 – MicroEdge, Inc., a wholly-owned subsidiary of Advent Software (NASDAQ: ADVS) and leading provider of solutions for the grantmaking community worldwide, announced today the release of a key new management and productivity tool, GIFTS® Watchlists Plus. The new module included in the GIFTS® Plus Pack .NET Extension, automates the process of list checking for compliance with the United States Department of the Treasury, Office of Foreign Assets Control (or OFAC) and counter-terrorism laws such as The USA PATRIOT Act and Executive Order 13224.
GIFTS Watchlists Plus provides GIFTS users with a quick and more secure method of processing, comparing and verifying their records against global watch lists and identifying potential problems for further review and action. "Charitable organizations are under extreme scrutiny to ensure that they are not in violation of a wide range of regulations designed to keep philanthropic funds out of the hands of certain foreign governments, terrorists, narcotic traffickers and others," said MicroEdge President Jim Weil. "This GIFTS component allows various lists to be scanned, alerts managers to 'hits' that could be problematic, creates an audit trail of the process, and allows custom flexibility in establishing search criteria."
GIFTS Watchlists Plus allows users to set thresholds for risk, which can reduce false positives, establish secure permissions for users who can access watch list information, and expedite searches by batch processing all lists at one time. MicroEdge's Weil adds that GIFTS Watchlists Plus is an example of providing clients with the latest technologies that have a genuine impact on improving and protecting processes. He states, "After more than 22 years of leadership in philanthropic giving, we know the value of balancing speed to market with delivering reliable solutions that make a difference in the giving community."
About MicroEdge
Established in 1985, MicroEdge, Inc. (www.microedge.com), a subsidiary of Advent Software, Inc. is the leading provider of software and services to the giving community worldwide. MicroEdge solutions deliver a powerful, integrated, and open framework for efficient and effective charitable giving. The company is committed to providing the best technology toolset for foundations, corporations, government agencies, donors, advisors and financial institutions. Together, these tools help organizations to work with one another to raise, invest, manage and award charitable currency. MicroEdge, Inc. is headquartered in New York City with regional offices throughout the U.S. and Europe, and supports thousands of clients worldwide.
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About Advent
Advent Software, Inc. (www.advent.com), a global company, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $18 trillion. Advent’s quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support organization. For more information on Advent products, click here.
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Copyright © 2008, MicroEdge, Inc. ®
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GIFTS is a registered trademark of MicroEdge, Inc. All other company names or marks mentioned herein are those of their respective owners.
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Contact:
Claire Carsen
1.800.899.0890 ext. 300
ccarsen@microedge.com
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