World-wide interests of US banks first to be identified
The platform, developed by OpenCorporates, collects, extracts and makes usable global corporate data, in an open and granular way. Large data sets, many of which were not available as open data before, have been imported by the London-based company, and used to develop corporate network visualisations which show the global corporate networks of businesses. Examples include IBM, Starbucks and Barclays.
In addition to the corporate network visualisations, the new technology has produced maps which show the world-wide interests of four US banks – Bank of America, Citigroup, Goldman Sachs and Morgan Stanley. They reveal complex and deep networks, as well as the central position that the Cayman Islands have within them.
Chief Executive of OpenCorporate, Chris Taggart said:
“This platform is an incredibly powerful and innovative piece of technology. Prior to its development, many of the datasets we are using were only available as web pages or PDFs. Now we are bringing this data together into a useable format which will change the way people are able to access and view corporate networks.”
“The emphasis we place on detailed provenance and confidence scores with this platform is substantially better than existing efforts to identify corporate networks, which are essentially ‘black boxes’. These hide the underlying data used to derive the relationship links, give no indication of how likely the information is to be correct, or the date the information related to. We believe that in a world which is increasingly dependent on corporate data, this is critical – whether you are an investigative journalist, or calculating credit risk.”