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 International (RDC) and Alacra.
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."