A solution that enables banks to comply with FATCA and AEOI/CRS regulations
The Foreign Account Tax Compliance Act (FATCA) and the Automatic Exchange of Information (AEOI) regulations place a heavy burden on firms to enhance their processes for collecting and reporting client information. With Tax Information Reporting continuing to be a significant overhead, Dion offers a flexible approach to reporting requirements.
TRAC is the comprehensive solution for FATCA and AEOI compliance. Built and supported by an experienced team, the solution is available in a modular form which can be configured to be operated under a number of “regulatory models”. TRAC can handle the IRS FATCA regulations, Model 1 and 2 IGAs, Common Reporting Standard (CRS) and other similar regulatory reporting requirements. In addition, it is multi-entity, allowing it to be deployed as a centralised global or regional compliance solution.
Dion’s TRAC solution is easily integrated with existing systems and it has been built using Dion’s technical business process engine, X-Gen. The solution is being used in financial institutions across the globe, ranging from Tier 1 institutions to local banks. TRAC has been deployed to provide FATCA compliance reporting in over 80 different jurisdictions.
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