Dion launches FATCA TRAC service 28 January 2013London Reporter: Georgina Lavers
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Firms will be able to specifically locate clients who will be affected by FACTCA with the help of a new solution from Dion Global Solutions, the TRAC Indicia Check Service.
The announcement follows the publication of the long-awaited final regulations for the implementation of FATCA by the US Treasury Department and Internal Revenue Service.
The FATCA TRAC Indicia Check Service, built with Dion’s partner Mahindra Satyam, performs the required US indicia checks by taking client data. This data is provided to the firm as dashboards, offering visualisations of client categories and results. Firms can then go into specific account details and interrogate any US indicia found.
Colin Camp, managing director of Products & Strategy at Dion said: “Many firms are now faced with the question of where to start, and how can they ascertain the extent of the problem they are faced with in terms of FATCA compliance.
"The FATCA TRAC Indicia Check Service addresses this problem by providing them with a detailed view of their client’s classification and the required remediation steps that need to be taken.”
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