Alacra Launches Alacra Compliance; New Online Service Streamlines and Documents Account Vetting Process for Financial Institutions.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Alacra, Inc., a leading provider of online business information solutions, announced today the release of its latest web-based workflow tool, Alacra Compliance (http://www.alacra.com/4cs/compliance). Alacra Compliance helps financial institutions employ a consistent, comprehensive and documented process for Customer Identification Programs (CIP (1) (Common Isochronous Packet) The packet format used in time-based (real time) FireWire transmission. See FireWire, IEC 61883 and mLAN. (2) (Common Industrial P ), Know-Your-Customer (KYC KYC Know Your Customer KYC Know Your Client ) efforts and Enhanced Due Diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. (EDD Noun 1. EdD - a doctor's degree in education DEd, Doctor of Education doctor's degree, doctorate - one of the highest earned academic degrees conferred by a university ). Customer identification and enhanced due diligence are now mission-critical processes for broker-dealers, banks and professional service firms. Vetting prospective and existing clients is a time-consuming task requiring strong research skills as well as the investigation of archival news databases, watchlists, premium business information databases and a vertical slice of the World Wide Web. Alacra, a leader in the field of aggregation and integration of business and financial data has developed Alacra Compliance, a solution that combines sophisticated federated search Federated search is the simultaneous search of multiple online databases and is an emerging feature of automated, Web-based library and information retrieval systems. It is also often referred to as a portal, as opposed to simply a Web-based search engine. technology and a configurable user interface with access to premium business information from renowned publishers like Factiva(R) and World-Check. Additionally, Alacra Compliance retrieves relevant information from Alacra Compliance Web, an index of more than 600 global regulatory websites that have been crawled by Alacra, providing customers with a clear and complete view of a potential client, partner or individual. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Alacra CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Steve Goldstein, "The broadening of Patriot Act Patriot Act: see USA PATRIOT Act. and FSA FSA Financial Services Authority FSA Food Standards Agency (UK) FSA Farm Service Agency (USDA) FSA Financial Services Agency (Japan) account vetting requirements for financial institutions has created the need for a comprehensive yet easy-to-deploy research application so that CIP, KYC and EDD processes can be streamlined and standardized. Alacra Compliance provides a structured and consistent method to search content, and document account vetting efforts to ensure that the stringent requirements of all regulatory agencies are met." By researching entities with Alacra Compliance, a firm can significantly improve and accelerate the account vetting process. Alacra Compliance allows for a single query across all critical content sources and generates one result set for all premium, proprietary and Web content. The Audit Report feature automatically generates a PDF file See PDF. that compiles the findings of your researchers including annotations made by them during the investigation process, into a single file that makes recordkeeping for audits simpler. Similar to other Alacra solutions, Alacra Compliance can be highly customized to match each firm's compliance and anti-money laundering Anti-money laundering ("AML") is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. policies, along with the look and feel of each firm's intranet. Alacra Compliance ensures a consistent process on a global basis, leverages external and internal information, streamlines the on-boarding process and maps client workflow to regulatory standards, reducing your firm's risk and exposure. About Alacra Premium Content Factiva(R) Factiva, a Dow Jones and Reuters Company, provides essential business news and information together with the content delivery tools and services that enable professionals to make better decisions faster. Factiva's unrivalled collection of more than 10,000 authoritative sources includes the exclusive combination of The Wall Street Journal, the Financial Times(R), Dow Jones and Reuters' newswires and the Associated Press, as well as Reuters Fundamentals and D&B(R) company profiles. Factiva Public Figures & Associates provides the most detailed and accurate global coverage of senior Politically Exposed Persons available today. Trusted by many of the world's leading financial institutions, the service also provide global Sanction and Law Enforcement data updated on a daily basis by a dedicated global research team working to the editorial standards of Dow Jones and Reuters. For more information, please visit www.factiva.com. World-Check World-check assists institutions in mitigating reputational, financial and compliance risk by monitoring and correlating information on high-risk entities. World-check provides risk-reduction technology to 1,600 institutions in more than 120 countries. World-Check technology allows financial institutions to very efficiently screen their new and existing customers for risk on a routine basis. Recognized as an industry pioneer, World-Check has revolutionized and "standardized" global Know Your Customer (KYC) and Politically Exposed Persons (PEP) screening. Today, 43 of the world's top 50 banks, and hundreds of regulatory and government agencies use World-Check's global list of heightened-risk individuals and organizations. For more information, please visit www.world-check.com. About Alacra Alacra is a leading global provider of business and financial information and solutions. A privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. founded in 1996, Alacra is headquartered in New York. The company provides a diverse portfolio of authoritative databases along with proprietary solutions that enable users to quickly find, analyze, package and present mission-critical business information. Alacra customers include more than 700 leading financial institutions, professional service firms, consulting, law and accounting firms and corporations throughout the world. For more information about Alacra, visit the company's Web site http://www.alacra.com or call customer service at (212) 363-9620. |
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