Cambridge, MA—June 17, 2008—Basis Technology Corporation (www.basistech.com) today announced the integration of 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.
Rosette Name Translator is a fully-automatic translation engine for names of people, places, and organizations. It offers 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 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.”
“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 naïve comparisons,” said Benson Margulies, CTO of Basis Technology. “That’s why it takes less time achieving accurate results that produce much more scalable results.”
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, Farsi (Persian), and Urdu languages.
Basis Technology (www.basistech.com) provides software solutions for text analytics, information retrieval, and name resolution in many languages. The company’s Rosette® 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 located in Cambridge, MA, with branch offices in San Francisco, California; Herndon, Virginia; and Tokyo, Japan. For more information, visit www.basistech.com or call +1-800-697-2062.