FATCA Compliance

Key Benefits of Actimize FATCA Compliance

The Foreign Account Tax Compliance Act (FATCA) requires financial institutions to identify and report information on customers - individuals, business entities, and owners - that may be liable for U.S. tax treatments. The Actimize FATCA Compliance solution helps firms establish an effective and efficient FATCA program, enabling them to:

	Streamline compliance processes and reduce costs Ensure enterprise-wide regulatory and operational consistency by centralizing FATCA customer reviews and reporting for multiple business units into a single enterprise solution. Reduce compliance, training, maintenance, and support costs by consolidating hardware and software platforms into a single environment.
	Increase staff productivity and gain operational efficiencies Automate the process of capturing, consolidating, and enriching data and documenting and transmitting annual FATCA reports to the US IRS. Adapt to changing business needs and regulatory requirements with built-in flexible and extensible tools, without IT or vendor involvement.
	Mitigate risk and build business value Minimize the risks of non-compliance, improve customer FATCA review experience, and create a centralized, comprehensive customer view and the ability to manage, track and consolidate documentation. Gain business insights by monitoring the progress of FATCA reviews and staff productivity, proactively addressing compliance issues.
	Rapidly deploy a standardized solution Meet strict FATCA compliance timescales with a proven implementation approach, reducing lengthy internal analysis and consultancy costs. Speed deployment, lower expenses, and satisfy regulators with standardized data integration, workflows, and detection models, minimizing the impact on existing processes and systems.