Increased regulations are just going to be par for the course for financial institutions, especially as desperate governments are starving for additional tax sources. However, regulations such as GATCA are an opportunity to streamline client onboarding and due diligence processes, centralize data and create a sustainable compliance model. By doing this, your organizations can be more able to optimize processes and reduce operational costs in the longer run.
Mindtree helps financial institutions around the globe to comply with regulatory requirements. We’ve successfully implemented FACTA solutions for many global organizations and we are leveraging this business and technical experience to streamline GATCA compliance.
We begin by helping financial institutions better understand GATCA regulations and its potential impact on existing IT systems. We perform detailed analysis of the systems that will be affected, analyze legal entity attributes and classify them accordingly to GATCA prerequisites.