Stop money laundering with accurate
FATCA-CRS Reporting
Our Product helps top banks and other RFIs seamlessly file FATCA, CRS and 61B reports to the tax authorities.
Regular
No Past Data
Comparison not possible or not normally done.
Manual Scrutiny
Susceptible to errors, commissions and omissions.
Manual Upload
As organizations or financial institutions grow, they face more data sources, higher data volumes, and increased interactions. This makes transitioning to automated reporting crucial, as relying on manual systems becomes unsustainable and riskier with size.
Remediation
Initiating communication with account holder: This is a very tedious process under manual system – identify the customer id, draft the mail, list out incorrect data and send the mail – again errors cannot be ruled out while carrying out this activity.
Data Purification
Rarely thought of or implemented in a manual environment.
Finguine
Rich Historical Data
Reported data of the previous year is always compared and exception report generated by the application.
Low Touch
All errors relating to manual scrutiny are eliminated.
Automate Process
Reduces the levels of manual intervention and data adjustment, automation ensures that institutions are better able to meet their compliance reporting requirements such as timeliness, accuracy and quality.
Remediation
Initiating communication with account holder has been automated; the application picks up the email-id, customer id from the report/database, lists out the error points and sends the communication automatically. This is very fast and error-free and no manual involvement is required.
Data Purification
Data which are apparently invalid are listed out in the form of exception reports. Cleansing is taken up by the RFI so that the reports submitted are correct.
FAQ's
“ Services provided by Finguine (A VSM Software Product) team for FATCA/CRS filing is satisfactory and very helpful. The team’s outstanding technical Knowledge, very good functional knowledge, quick TAT and timely output ensured we finished the filing on time and in a satisfactory manner. ”
Chief Manager - Leading Public Sector Bank based out of Chennai
Experience Today with Finguine
Start with the one-stop solution for TAX compliance and explore our products