GATCA Compliance

When the Organization for Economic Cooperation and Development (OECD) released its Global Standards for Automatic Exchange of Financial Information (GATCA), it created several challenges for financial organizations. In addition to the regulation’s complexity and a lack of technology resources, many organizations faced issues integrating internal systems and global standards, identifying regulatory impact on existing accounts, and adhering to stringent implementation timelines.

Mindtree helps financial institutions across the globe comply with regulatory requirements. Our experts have successfully implemented Foreign Account Tax Compliance Act (FATCA) solutions for many global organizations, and we can leverage our business experience to streamline GATCA compliance.

Mindtree’s GATCA solution simplifies compliance in the following ways:

  • Identify applicable GATCA obligations and translate them to IT requirements
  • Develop protocol for any registration of legal entities into the regulatory portal
  • Perform GAP analysis to identify the available and missing data
  • Implement data cleansing, build enhancements and connects, and report generation for withholding and informing regulators
  • Perform quality assurance and testing to ensure linked systems have not been affected in terms of stability and performance, and to ensure reliability and readiness
  • Implement an internal controls framework and governance models to monitor ongoing compliance and apply new reporting standards as required

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