Under the accord, IRA will market and sell the global financial statement data aggregated by WVB, which includes two core databases: the WVB Master, which provides "as filed" data for 49,000 public and 120,000 private companies; and WVB Analyst, which provides harmonized data for the same universe of global companies.
In addition, WVB will market and sell IRA's analytics products and consulting services, including the IRA Bank Monitor, which provides financial performance benchmarks, Basel II credit risk factors and Economic Capital metrics for all US banks and bank holding companies using "as filed" regulatory data; and the IRA SEC Catalog, which provides users with access to "as filed" content and data for US listed companies, funds and other entities required to file with the Securities and Exchange Commission.
Under the agreement, WVB and IRA will cooperate in areas such as Basel II implementation and enterprise risk management to help their clients address the challenging credit, market and operational risks that exist in today's markets.
"It is an exciting venture," says WVB CEO Philippe Piette. "IRA's expertise and WVB's activities are perfect complements. Together we offer effective and complete solutions to Basel II implementations. This should be of primary interest to a number of our existing clients. It is the first time that the IRA analytics matrix will be applied to non-US companies, allowing a more global analytical framework and evaluation than just a US centric world view. It is a pleasure to work with Dennis, Chris and their talented team."
"WVB is the oldest and most experienced player in the world of global financial data and we are delighted to be expanding our relationship with them," says IRA CEO Dennis Santiago. "Our relationship with WVB will allow us to offer their products to our new and existing clients, and also to work with Philippe and his colleagues in such areas as privileged data collection, global bank performance benchmarks and Basel II."
"This announcement is very timely," adds Santiago. "Recent events in the financial markets clearly demonstrate the need to carefully review existing data and risk measurement tools to ensure that managers see the entire picture. Our relationship with WVB will enable us to provide that service to our respective clients."