CRS Overview


AxiomSL, a global leader in regulatory compliance and risk management solutions for over 20 years, provides a data driven compliance platform, which empowers financial institutions to meet their CRS regulatory requirements with confidence. AxiomSL’s data management framework assesses clients’ records creating a centralized client data repository to enrich clients’ data records, monitor internal data procedures, streamline controls & processes and provides the foundations for preparing for future regulations. This integrated solution addresses the CRS requirements in the areas of client classification and reporting.

The centralization of data on a single platform and the automation of the compliance process delivers a simple, cost effective and scalable solution, which collects, analyzes, monitors, audits and validates data and then reports from thousands of client records. AxiomSL’s CRS solution is easy to install at the core of your system infrastructure without any data conversion, allowing you to be CRS compliant with a full audit trail ensuring traceability of every process.

CRS & FATCA Solution


AxiomSL Solutions - CRS & FATCA


CRS Benefits



CRS Features



CRS Background


The burden of complying with the CRS regulations has fallen on most participants in financial services industry across the globe who now have to undertake enhanced client due diligence and reporting to their local tax authorities.

CRS presents unique challenges to financial institutions, namely:

IT

Compliance

Reporting

Resource Center


APAC Financial Institutions Staring into the AEOI Headlights

Facing a fixed regulatory compliance timeline, higher client data volumes and continuous changes to already complex requirements; it is time to migrate your tactical FATCA…


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ICBC (London) plc chooses to extend AxiomSL deployment…

The European Banking Authority (EBA) published today an Opinion on transitional arrangements and credit risk adjustments to mitigate the effect of the accounting standard IFRS 9 on…


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From FATCA to Basel, the impact of regulation will continue to be significant

The Swiss Financial Market Supervisory Authority FINMA has published the revised circular on credit risks and disclosure for banks.


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CRS: Government tax data exchange efforts step up a gear

Governments around the world are stepping up the fight against tax evasion. Previously, they were content to send requests to one another when they wanted information about…


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As FATCA enters its second year, firms have big decisions to make about reporting

The implementation of the Foreign Account Tax Compliance Act (FATCA) on 1 July 2014 marked a major change in the way governments…


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Flexibility is the key to tackling FATCA and its spin-offs

If imitation is the sincerest form of flattery, the US Internal Revenue Service (IRS) has a lot to smile about. However, market participants around the world have less to be happy about as they face…


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“There Must Be a Better Way!”
Struggles with the Common Reporting Standard (CRS)

Inundated by a barrage of schemas; technologists, analysts and compliance specialists around the globe tasked with tackling …


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