Alacra, a provider of online business information solutions, has signed an alliance agreement with CounterpartyLink, supplier of global client, counterparty and issuer legal entity reference data. Through this alliance agreement, Alacra’s Concordance and Compliance customers will have access to CounterpartyLink’s full list of maintained reference data.
This data is collected from sources, and maintained to standards, required in today’s regulatory compliance environment, according to CounterpartyLink. This data specifically enables subscribers to collect data required for 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. These are typically national and regional company registry authorities, regulators and stock exchanges.
“Our alliance with CounterpartyLink further strengthens Alacra’s Concordance and Compliance services by enabling the many other data sets that we carry to be seamlessly linked to a core legal entity record – the characteristics of which are specifically shaped by regulatory requirements under MiFID, Basel II and other initiatives in the increasingly regulated market in which financial services operate,” says Steve Goldstein, CEO at Alacra.
Adds Christoph Lammersdorf, CEO of CounterpartyLink: “Alacra’s ability to link our data to the wealth of other related content that it carries adds another dimension to CounterpartyLink’s data, and significantly enhances the ability for clients to retrieve, use and also integrate such content into their own applications.”
CounterpartyLink has also recently become a member of IAMTN (the International Association of Money Transfer Networks), having realised that its services “are no less relevant to the players in the B2B and B2C money-transfer world, as many of the regulations are equally applicable”, according to James Redfern, head of alliances and partnerships for CounterpartyLink.
Olga Maitland, CEO of IAMTN, says: “We look forward to increasing the breadth of our membership by association with such specialist companies.”