TORONTO, Nov. 21 /CNW/ - Sprylogics International Corp. (TSX Venture: SPY), a provider of intelligence based risk mitigation software and services announced today the conclusion of a two day conference that was held in St. Vincent, November 13-14, 2007.
Over 50 participants from 6 countries participated in the conference "Money Laundering & Terrorism - Exploring Technological Solutions" which was co-hosted by Sprylogics and the St. Vincent Financial Intelligence Unit.
Participants included representatives of local and regional banks, credit unions, central banks and money transfer agencies as well as law enforcement agencies, customs and financial intelligence units.
At the conclusion of the conference, a number of regional financial institutions have signed up to commence a trial period of Sprylogics' recently launched beta version IntegraDB product.
IntegraDB Due Diligence Search Engine contains information from Sprylogics' proprietary Market Integrity Database ("MID") of disciplined individuals and entities. The information is drawn from publicly available sources including regulatory filings. This content is analyzed and uploaded into the Market Integrity Database by the Company's team of intelligence analysts based in Tel Aviv, Israel.
Use of the IntegraDB Search Engine dramatically speeds up, and improves, the due diligence process for anyone seeking to invest, or contemplating a transaction, in the Canadian financial markets. A similar search performed in one of the Internet's primary search engines may yield tens or hundreds of thousands of results for a given term. This unstructured data usually requires significant resources and time to be rendered useful for effective due diligence.
A name or an entity analyzed in the Web-based IntegraDB search engine yields a Social Network Analysis of the name or entity searched. The end result is structured data or intelligence which can be used in the due diligence process and acted upon in real time.
About Sprylogics International Corp.
Sprylogics develops intelligence based analytical solutions and content for enhanced risk analysis and investigative research in the regulatory, law enforcement, government, financial services, investment and private sectors. Our technological solutions enable our users to methodically collect, analyze, discover and report large amounts of raw data and transform that data into analyzed and actionable intelligence. Our content solutions enable our users to identify non-obvious financial risks based on the Social Network Analysis of companies, individuals and other entities.
Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Sprylogics International Inc. (the "Company") to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as "may," "will," "expect," "anticipate," "project," "believe," "plan" and other similar terminology. The risks and uncertainties are detailed from time to time in reports filed by the Company with securities regulatory authorities to which recipients of this press release are referred for additional information concerning the Company, its prospects and the risks and uncertainties relating to the Company and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of the Company to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking information contained in this press release is current only as of the date of this press release. There should not be an expectation that such information will in all circumstances be updated, supplemented or revised whether as a result of new information, changing circumstances, future events or otherwise.
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