Idola Blogs

Idola Announces Aegis, an OFAC Solution for IAT
08.03.09, 9:00 AM ET

ISELIN, N.J., Aug. 3 /PRNewswire/ — Idola today announced Aegis, a new middleware product that will simplify the process of OFAC screening of International ACH transactions (IAT). New rules issued by NACHA require all international ACH payments to be identified as such, and thus will permit financial institutions to perform due diligence with respect to IAT transactions as required by the Office of Foreign Asset Control (OFAC). These rules become effective September 18, 2009 and will impact all financial initiations that originate or receive ACH transactions.

Aegis, designed based on Service Oriented Architecture (SOA), can intercept and screen both domestic and international ACH messages or mixed source files and can be configured to provide the following functionality:

1. Perform OFAC screening of IAT Transactions or domestic ACH Transactions or both.

2. Operate in “Split Mode”: Segment source file into two files – one containing all transactions without possible OFAC matches and a second one containing suspected matches.

3. Operate in “Highlight Mode”: No modification of source file other than highlighting transactions with any possible matches against scanned lists by setting the secondary screening indicator.

4. Generate a rebalanced file from all transactions cleared after the due diligence review.

5. Real-time or batch mode of operation.

Aegis as a middleware will allow financial institutions the ability to leverage existing workflow procedures and investment in automated OFAC scanning software, by easily integrating with any OFAC screening software. Aegis provides message reconciliation and comprehensive reporting capabilities as mandated by the new IAT regulations.

Aegis will significantly ease the burden of OFAC filtering for financial institutions. More importantly, it will provide transaction identification and routing to assure that all IAT or ACH transactions as required are filtered through OFAC screening software in the shortest possible time.

For further information on how your organization can benefit from Aegis, please contact:

S.K. Murthy IDOLA INFOTECH LLC Tel: 732-744-0066 Ext 202 Fax: 732-744-0061 Email: skmurthy@idolainfotech.com

 About Idola Infotech

 Idola ( http://www.idolainfotech.com ) was founded in 2002 by a team that specialized in software product development and the deployment of complex technology projects. Its management team consists of banking experts, leaders of the regulatory compliance market, and senior technology specialists. Idola has established itself as a leading provider of Risk and Compliance services to the financial sector and has developed commercial products for one of the largest vendors of financial services software. Project management experience has been earned across a wide range of financial institutions from some of the largest in the world to small community banks. Idola has implemented and deployed software solutions domestically and internationally earning its reputation for excellence, reliability, and value.

(CNN) — Google is jumping into Microsoft Windows territory — and threatening to change the way personal computers work — with its own version of a computer operating system.

Google’s operating system will augment its Web browser, which is also called Chrome.

The company says the forthcoming Google Chrome OS will revolutionize how computers operate, putting more emphasis on Web functionality, making computers faster and opening them up to helpful tinkering by outside program developers.

“The operating systems that browsers run on were designed in an era where there was no web,” Google said late Tuesday on its official blog. “It’s our attempt to re-think what operating systems should be.”

Chrome OS will be available this coming fall or winter, Google says.

But why should you care?

A trim and speedy Google operating system, which has been buzzed about online for some time, is interesting for several reasons — even if you think it could flop out of the gate.

The first is that Chrome OS will be available as “open-source” technology. That means software developers will be able to mess with the code behind the system, allowing them to develop new applications for it.

via Google takes on Windows with Chrome OS – CNN.com.

Less than 10% of high school graduates receive any financial education. The ABC Financial Literacy project is here to change that, not only with classroom education and materials, but with a real life experience of running, and owning their own business.

Approximately 75% of Americans live financially month to month. The ABC Financial Literacy Project was founded to make a change, because we believe that ordinary people can accomplish extraordinary things, and live the lifestyle they dream of with the right guidance.

The ABC Financial Literacy Project, is determined to offer a real life business experience to every parent and child, by choosing to work with a company that prides itself in a financial crusade to educate families across America.

So won’t you join us to stamp out financial illteracy in our nation – one kid at a time.

via ABC Financial Literacy Project – www.ABCLearnMoney.org.

Microsoft Pinpoint is available for Beta users, which will allow to find products and services from Microsoft certified companies.

You can search anything like “Idola Infotech” or “Risk Management Solutions”.