Dion goes live on FATCA-specific solution
24 October 2012 London
Image: Shutterstock
Dion Global Solutions has introduced two integrated products, FATCA FORCE and FATCA TRAC as a solution to forthcoming FATCA regulations.
FATCA FORCE is a project monitoring dashboard, which enables firms to establish their operational readiness for FATCA compliance, based on all relevant IRS checkpoints.
FATCA TRAC covers aspects from classification to reporting and payment. Key elements of FATCA TRAC are a rules engine populated with a pre-defined rule set that can adapt to incorporate existing KYC processes, a data management store and an interoperable payment module for withholding tax calculation.
“We have developed these solutions to enable companies to comply in an intelligent way by focusing on solving the problem of customer classification, rather than focusing purely on FATCA,” said Colin Camp, managing director of products & strategy at Dion.
“They are both designed to accommodate the complex multi-jurisdiction issues and future classification and tax reporting demands, yet have the flexibility to fit around existing technology and processes to protect current infrastructure investments.”
FATCA FORCE is a project monitoring dashboard, which enables firms to establish their operational readiness for FATCA compliance, based on all relevant IRS checkpoints.
FATCA TRAC covers aspects from classification to reporting and payment. Key elements of FATCA TRAC are a rules engine populated with a pre-defined rule set that can adapt to incorporate existing KYC processes, a data management store and an interoperable payment module for withholding tax calculation.
“We have developed these solutions to enable companies to comply in an intelligent way by focusing on solving the problem of customer classification, rather than focusing purely on FATCA,” said Colin Camp, managing director of products & strategy at Dion.
“They are both designed to accommodate the complex multi-jurisdiction issues and future classification and tax reporting demands, yet have the flexibility to fit around existing technology and processes to protect current infrastructure investments.”
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