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.
NEW YORK & WILMINGTON, Del. (PRWEB) October 20, 2008
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 (http://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 http://www.alacra.com.