Detailed information on the Common Reporting Standard can be found on the CRS-website of the OECD.
Avaloq has developed a standard solution in connection with FATCA and CRS/AIA and made it available to our customer banks. With our add-on product, we build on these existing solutions and further exploit their powerful possibilities. We have thus combined the two solutions as far as possible and in a sensible manner and combined the resulting processes.
Banks that are subject to CRS/AIA or FATCA are obliged to monitor and verify their customer master data. This results in the following processes in particular:
For all these processes, Confinale AG has developed a semi-automated solution based on the CRM issue that is fully integrated in Avaloq. The solution is already in use at numerous Avaloq banks and successfully supports our customers in coping with the complex requirements of CRS/AIA and FATCA.
The product also includes various reporting functionalities, such as:
With our product you are optimally prepared for the regulatory requirements in the field of CRS/AIA and FATCA!