June 12, 2013 – New York: Alacra, Inc., a leading provider of business information solutions for financial institutions and professional service firms announced the release of “The Periodic Table of FATCA Acronyms.”

“With all the talk about getting ready for the Foreign Account Tax Compliance Act (FATCA), we thought it might help everyone if we had a single resource for alphabet soup surrounding the new law,” said Alacra CEO Steven Goldstein.

Financial providers affected by FATCA are asking for the inclusion of FATCA client classification information in their onboarding workflow. Although the main FATCA challenge is in classifying existing customers (which may number in the tens or hundreds of thousands at some banks) classifying new customers at the time of onboarding is critical enhancement to the KYC workflow.

“With the deadline for IRS compliance approaching on January 1, 2014, there is still a great deal of confusion among financial institutions. We thought we would help organize the many terms being used to help our colleagues around the world,” said Steve Goldstein, CEO of Alacra. “More and more customers are coming to us to request help adding FATCA identification processes to their Know Your Customer onboarding process. FATCA is just the latest requirement for identifying potential tax evaders at multinational financial institutions and similar laws are planned in Europe and Asia.”

The Alacra team understands the difficult workflow decisions financial firms are facing with multiple jurisdictions, reporting requirements, and KYC initiatives. The Alacra Compliance team works closely with clients and the industry to help everyone make FATCA compliance robust and easy to add to existing processes.

To view the Alacra Periodic Table of FATCA Acronyms visit: http://www.alacra.com/fatca-acronyms-periodic-table . To learn more about Alacra Compliance Enterprise, visit http://www.alacra.com/compliance-solutions or call Alacra at 1‐212‐363‐9620.

About Alacra, Inc.

Alacra develops workflow applications that enable 300,000 end users at over 200 financial institutions, professional service firms and corporations to find, organize, analyze and present mission-critical business information.

With almost 200 unique databases available to our clients, Alacra has under license the largest collection of premium business information in the world. We incorporate these databases into configured solutions that bring an efficient, consistent and thorough process to client onboarding, client screening, vendor risk management and front office business research. By combining licensed and web-based content Alacra also provides a range of entity reference data solutions that help our clients maintain extremely accurate legal entity data and meet global regulatory requirements.

Alacra was established in 1996. We have 60 employees and have offices in New York and London.

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For press inquires and interviews, please contact:

Carol Ann Thomas
Marketing Manager
T: 212‐806‐3841
E: carolann.thomas@alacra.com