Alacra today announced an alliance with CounterpartyLink Ltd., a leading provider of global client, counterparty and issuer legal entity reference data.
Under the agreement, Alacra clients will be able to include data from CounterpartyLink in its Compliance and Concordance solutions. This data allows users to gather information which can be used for compliance with "Know your Customer (KYC)" processes for any registered entity in the world, with the knowledge that all information delivered has a link back to the source it came from.
Alacra Concordance helps clients simplify their data integration challenges by matching entity information from multiple disparate sources and appending legal entity data and identifiers such as ticker symbol, SEDOL, ISIN, D-U-N-S number, CIK, UK registration number and more. Through this partnership with Counterparty Link, Alacra will strengthen its Concordance offering and help clients comply with regulatory initiatives such as MiFID and Basel II.
Alacra Compliance helps customers meet the KYC provisions of section 326 of the Patriot Act, the Bank Secrecy Act and the UK Financial Services Authority. The CounterpartyLink partnership will enable our joint customers to more easily verify and source documentation within their KYC process.
The press release announcing the alliance is available here.
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