Regulatory Data Corporation and Alacra Join Forces To Offer New KYC
Solution to Compliance Professionals
-- Five Million Risk-Relevant Records Easily Accessible --
NEW YORK & WILMINGTON, Del. (Business Wire EON/PRWEB ) October 20, 2008 --
Compliance professionals at financial institutions and other
organizations can now access more than five million risk-relevant
records that ensure compliance with Know Your Customer laws, thanks to a
new operating agreement announced today by Regulatory Data Corp.
International (RDC) (www.rdc.com)
and Alacra, Inc. (www.alacra.com).
Under terms of the agreement, existing Alacra Compliance customers can
access RDC’s Global Regulatory Information
Database (GRID), a leading database of risk-relevant records, aggregated
from more than 15,000 public sources and searchable by specific,
customizable risk codes. Alacra customers can access the GRID database
through Alacra Compliance, a workflow-based application that offers a
single point of access to search across multiple databases. RDC
customers retain access to the GRID database, which has been available
to them since RDC’s founding in 2002.
Steven Goldstein, CEO of Alacra said, “We are
thrilled that our customers can now access RDC’s
GRID system, a leading data source for reducing legal, financial, and
reputational risk. GRID provides an immediate and significant increase
in the depth and quality of the information available to compliance
professionals through Alacra’s single point of
access.”
Mark Parsells, Chairman & Chief Executive Officer of RDC, said, “For
the first time, RDC is making its GRID database available outside of our
own comprehensive set of compliance solutions. This agreement gives GRID
access to compliance professionals who use Alacra as their primary
vendor. RDC is proud to be working with as reputable an organization as
Alacra, whose track record of integrity makes it the logical choice to
be our first partner in distributing RDC data. We anticipate announcing
similar agreements with other reputable partners in the years ahead.”
About Regulatory Data Corporation
Regulatory Data Corp. International (www.rdc.com)
was founded by 20 of the world’s leading
financial institutions in the wake of 9/11 and is the only enhanced due
diligence vendor built by the financial services industry for the
financial services industry. In 2007, Bain Capital, LLC, a Boston-based
private equity firm, made a substantial investment in RDC to ensure
technological advancements that now allow RDC to serve a broader group
of clients. Today RDC serves more than 6,000 users worldwide and offers
the industry’s largest database of
open-source, risk-relevant records, and a broad array of due diligence
products and services that enable compliance with Customer
Identification Programs (CIP), Know Your Customer (KYC) laws, and
Enhanced Due Diligence (EDD) to meet Patriot Act, BSA and FCPA
regulatory requirements.
About Alacra, Inc.
Alacra
creates sophisticated online technology and services to help clients
find, package and present business information. Financial institutions,
professional service firms and other corporations have long used the
same content sets to support clients, research deals and investigate
market opportunities. The Alacra mission is to package this content and
deliver it in a format that best meets each organization's precise
needs. Worldwide, more than 600 investment and commercial banks,
management consulting firms, law firms, and other corporations,
representing 50,000+ end users worldwide, use Alacra to effectively find
and deploy business information in their daily workflow. For more
information, visit www.alacra.com.
See the original story at: http://eon.businesswire.com/releases/regulatory_data/relevant_records/prweb1498694.htm
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