Press Releases

Envision Financial Systems to Use ChoicePoint® for Identity Verification, USA Patriot Act Compliance

PowerAgent™ integrates technology to help financial service companies comply with new regulations

September 15, 2003 (Tustin, CA) — Envision Financial Systems, a leading provider of software solutions to the institutional and mutual fund industry, today announced they have entered into an agreement with ChoicePoint (NYSE: CPS) to provide identity verification in their software product, PowerAgent™.

In making the announcement, Satnam Gambhir, President of Envision, said, “Now more than ever, fund companies need comprehensive solutions to address ‘know your customer’ issues and comply with the USA PATRIOT Act and anti-money laundering initiatives.”

The USA PATRIOT Act — an acronym for “Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism” — requires financial institutions to verify and identify all new customers, maintain records relating to information used to verify customer identities, and check customer names against government-maintained lists of suspected terrorists, including the Office of Foreign Asset Control (OFAC) list.

Envision Financial Systems can now provide to its customers a comprehensive PATRIOT Act solution that not only meets the minimum rules of Section 326, but also provides strong Identity Validation for fraud prevention and robust information tools for enhanced due diligence and investigations.

“The passage of new federal legislation sends a powerful message to the world that our nation’s financial institutions will not be used for criminal purposes, especially global terrorism,” said Michael Reene, vice president and general manager of ChoicePoint’s Public Records Group.

Identification solutions ensure that name, address, date of birth and Social Security numbers match. This includes a check against required government sanctions lists. Enhanced due diligence solutions include telephone numbers, historical information, criminal records, key relationships, international information and comprehensive individual and business reports.

“The positive power of information is the best defense against the risks we face today,” Reene said. “ChoicePoint is looking forward to working with Envision to meet the requirements of this important legislation.”

About Envision

Founded in 1994, Envision Financial Systems, Inc. is a leading provider of software solutions to the institutional and mutual fund asset management markets. Using an in-depth knowledge of the financial services industry and extensive experience in software development, they create leading-edge global systems that are intuitive, scalable, and easily adaptable. Their systems are based upon open standards, helping their clients compete in the ever-changing global environment. Envision’s headquarters are in Tustin, California, with satellite operations in Owings Mills, Maryland and Bangalore, India. For more information visit www.enfs.com.

PowerAgent™, a Mutual Fund Shareholder Accounting System, is Envision’s flagship product and has been the mutual fund transfer agent system of choice for discerning providers. Since its launch in 1997, it has met the needs of financial service firms globally. PowerAgent’s full-featured sub-accounting system, it increases productivity, enhances customer service, and reduces shareholder-servicing expenses. PowerAgent is currently installed in over 300 mutual fund groups, and more than 5,500 mutual fund and portfolio accounts.

About ChoicePoint

ChoicePoint (NYSE: CPS) is the leading provider of identification and credential verification services for making smarter decisions in a world challenged by increased risks. Serving the needs of business, government, non-profit organizations and individuals, ChoicePoint works to create a safer and more secure society through the responsible use of information while ensuring the protection of personal privacy.

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ChoicePoint is a registered trademark of ChoicePoint Asset Company.

Company Contacts:

Envision Financial Systems
Edward Yang
edward.yang@enfs.com
(714) 247-0030, ext 124

Media Contacts:

Paiz Public Relations
Jill Bourque
jill@paiz.com
(415) 538-8660 ext. 102

ChoicePoint
Chuck Jones
(770) 752-3594