Alacra Concordance

As a content-neutral solution provider, Alacra's ability to aggregate, map, and organize entity identifier data from the world's largest collection of business and financial information is unparalleled.

Alacra provides clients with Counterparty Intelligence and works with leading global financial institutions to help them more effectively manage their customer, prospect, vendor, and counterparty data and risk via these solutions:

  1. The Alacra Authority File
    Updated daily, the Alacra Authority File includes 24 core reference data attributes and 75+ public and proprietary identifier mappings for over 200,000 global listed, rated, and regulated entities.

    Alacra gathers intraday and daily files from stock exchanges, ratings agencies, regulatory bodies and major business information publishers. We process these files using sophisticated, proprietary matching software that identifies new entities and data changes. Our global team of researchers then conducts primary research to validate the information.

  2. Alacra Concordance
    To further help mitigate the regulatory, legal, and reputational, operational and financial risk of inaccurate entity data, Alacra Concordance offers an entity identifier mapping service tailored to meet the breadth of a client's public and private entity universe.

    Concordance involves a four-step process:
    • Data analysis, cleanse, and alignment
    • Mapping of entities to the Alacra Concordance File
    • Appending of public keys and proprietary identifiers
    • Provision of ongoing data updates

    Business Challenges Addressed:
    • Duplicate or conflicting views of the same entity reconciled
    • Stale or missing attributes in reference data replaced and/or updated
    • Disparate views of entities across multiple data silos aligned
    • Corporate events impacting risk exposure or clients conveyed via timely data alerts
    • Independent downstream applications efficiently leverage centralized, up-to-date data set

Increasingly, Alacra is seeing data silo convergence with a centralized set of entity data leveraged for risk management, regulatory compliance, and CRM application layering.

FIMA Badge

 

While implementation of the LEI (Legal Entity Identifier) for financial market participants is still several months away, Alacra is preparing for its release and adoption.

We plan to integrate the LEI into our Concordance services immediately upon release. Our clients will benefit from Instant Integration, a compelling solution that maps the LEI to dozens of entity, industry, and internal identifiers.

To learn more, download our whitepaper, LEI Readiness: Instant Integration with Alacra Concordance, or contact Alacra for more information.

 

Alacra constantly monitors for entity data changes including core reference data updates like company name and address changes, as well as M&A events, exchange listings and de-listings, changes to regulator status, bankruptcies, etc.

Each day we match our clients� universe to our master change file and send deltas, or a full refresh, to our clients.

 

Clean, verified entity reference data provides significant benefits:

  • Improved compliance with regulatory requirements such as MiFID, Basel, and the KYC provisions of AML regulations
  • Mitigated risk from a reduction in potential errors caused by a reliance on old or incorrect information
  • Enhanced productivity resulting from greater accuracy and timeliness of data

In a Forrester Research study of Alacra Concordance customers, it was found that a typical financial institution could achieve an ROI of 402% with a payback period of only two months from deployment.

"Customers experienced a major leap in the overall accuracy and timeliness of data used by key decision-makers."

"Alacra Concordance reduces the time it takes to make a decision because of more real-time accurate data." - Forrester

You may download a free copy of the Forrester study, The Total Economic Impact of Alacra Concordance or contact Alacra for more information.