1 / 2

Taina FATCA/CRS Solutions Key Points

Financial institutions worldwide must comply involves validating, cross-checking, classifying and reporting on hundreds of millions of their customersu2019 tax forms each year

taina_tech
Télécharger la présentation

Taina FATCA/CRS Solutions Key Points

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. FATCA/CRS solutions: fully automated validation engine and onboarding Cutting costs and risks of regulatory compliance Improving customer experience The problem: Financial institutions worldwide must comply with FATCA and/or CRS regulations. This $ CRS-E CRS-I CRS-CP W8BENE involves validating, cross-checking, classifying and reporting on hundreds of millions of their customers’ tax forms each year… Self-Cert W8BENE W8BENE W8BENE CRS-I W8BENE CRS-I CRS-CP CRS-I CRS-CP W8BENE W8BENE Self-Cert CRS-CP CRS-I CRS-CP Self-Cert W8BENE CRS-I CRS-E W9 CRS-E CRS-CP W9 W9 W9 W8BENE W9 W9 Self-Cert Self-Cert Self-Cert … creating six key pain points W8-BENE CRS-I Self-Cert W9 CRS-I W8- EXP CRS CRS Self-Cert W9 CRS FATCA W8- EXP W9 W8-BENE CRS CRS-CP CRS W8-BENE W8-IMY W9 CRS-I W8-BENE W9 W8-BENE W8-BENE CRS-I CRS Self-CertS elf-Cert $ CRS-CP W8- EXP CRS CRS-CP CRS-I W8-BENE W9 W8- EXP W8-BENE Active NFE CRS Skilled labour doing manual tasks High error rate = risk of fines Laws keep changing Lack of audit trail High cost Customer experience suffers TAINA solutions: Each of our solutions has been built with top experts and each is designed to be flexible and adaptable to fit your internal procedures. Caters for complex international groups and stand-alone entities. Covers FFI and non-FFI, QI and non-QI entities. Advanced withholding tax calculations. Detailed, customised reports. Sophisticated cross-checking capability against public databases as well as financial institution’s own data. GDPR compliant. Onboarding Scanned and electronic forms validation User-friendly simple and interactive interface based on the IRS instructions Carefully designed to not give tax advice to customer Ensures that invalid forms never reach the financial institution, helps customer submit valid forms Validates instantly and rejects invalid forms in real time All types of FATCA, CRS and Canadian Forms. All major types of FATCA and CRS forms. Canada Revenue Agency prescribed forms in e-format Processes tax forms in any format Reads and validates scanned forms without manual intervention Advanced automated multi-layer W8-IMY capability QI Pool logic including DTR $ Frees up skilled labour for higher value tasks Reduces risks of operation errors and fines Up-to-date rules and forms Creates complete audit trail Significantly reduces costs Improves customer experience TAINA Technology works with international financial institutions to help them streamline and automate regulatory compliance which ultimately strengthens internal governance Reach out to TAINA today: contact@taina.tech | www.taina.tech TAINA Technology Ltd, Level 39 Technology Accelerator One Canada Square, Canary Wharf, London E14 5AB

  2. TAINA FATCA and CRS solutions: Fully automated validation engine Onboarding Created for world’s leading international financial institutions Cutting costs and risks of regulatory compliance Improving customer experience www.taina.tech

More Related