Achieving quick compliance with FATCA and AEOI
Complying with FATCA and AEOI is a critical requirement for financial institutions and places a significant burden on them—to review and streamline KYC and compliance requirements.
The TCS BaNCS FATCA and AEOI compliance platform is an end-to-end offering which impacts all operational processes and systems, helping financial institutions manage uncertainty and align performance with stringent regulatory requirements.
Simplifying FATCA compliance with TCS BaNCS
This solution can help manage:
- Identify non-compliance quickly: Through extensive coverage of various FATCA and AEOI verification techniques to identify individuals, FFIs and NFFEs that come under scrutiny process
- Generate quick alerts for non-compliance: Logical grouping allows for the quick verification of entities
- Perform easy change management: Enabling customers, with its workflow module, to study and analyze the details of every notification and arrive at a logical conclusion
- Enable intelligent detection: With a quick profiling technique and user friendly GUI, to determine whether a given entity is related to the member jurisdiction or not. As a result, various parameters for the Indicia check across member jurisdictions can be managed efficiently
The solution has a modular architecture, which allows implementation of either the comprehensive solution or only relevant functional modules to suit an organization’s specific requirements.
- Cash Management – Optimizing cash quickly and efficiently
- Core Banking – Scale new heights in banking
- Global Risk Management – Get an enterprise view of risk and manage it efficiently
- Islamic Banking – Islamic and conventional banking on a single instance
- Origination – Add speed and efficiency to loan management
- Payments – Speed up efficiency in payments
- Reconciliations – Streamlined, end-to-end reconciliations
- Retail Banking – Rapid time to market for your solutions
- Service Integrator – The financially aware middleware
- TCS BaNCS Digital – Allow any place, any time banking
- Treasury – STeP up treasury operations
- Universal Banking – Achieve high levels of automation and accuracy in banking
- Wealth Management – Enable greater transparency in wealth management, faster