Digital financial institutions experience the challenges of FATCA and CRS compliance in three areas: Client interactions, operations, and in proving good governance and regulatory compliance
TAINA targets these through automation, a consistent rule set and a customer-friendly approach
Why is TAINA different?
Key value drivers for digital financial institutions
Mobile and online journeys enable consistent compliance at scale
Smart, collapsing questionnaires and pre-population where appropriate minimises friction.
Questionnaires help you achieve compliance without burdening customers with traditional form formats
CRM integration enables validation checks against books and records data
Use of public information enables further sophistication and depth of validation
Increase efficiency, reliability and turn-around times of validations – 75% faster validation process in the latest test case with a fund administrator
Mitigate risks associated with manual way of working – have been able to free up over 40% of an operational team to focus on higher value risk mitigation
Fully configurable and adaptable e.g. Specific self-certification forms or questionnaires
Performs validation for a number of regulatory regimes that can be configured based on location or entity type: (FATCA , Chapter 3, CRS)
E-signature capability means customers can complete all applicable forms from mobile, desktop or tablet
The TAINA platform is built with a highly automated workflow and rules engine that minimises exception handling and is web-based to enable easy outsourcing to managed service providers or use by offshore teams
Cutting costs – achieved cost savings of 84% per form
Transform clients’ experience with simple, intuitive online solution validating forms in real time
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