The document presents a simple objective function for decipherment and cognate pair identification problems that optimizes over two matchings - an alphabet matching and a lexicon matching. It introduces an efficient block coordinate descent procedure that finds effective solutions by alternating between optimizing the lexicon matching with the alphabet matching fixed, and vice versa, subject to constraints on the matchings. The procedure requires only word lists in two languages as input and competes with more complex state-of-the-art systems.