Macro Global (MG) the UK based IT products and services company have been offering more advanced and evolving FinTech and RegTech solutions to over 25 plus Banks in the UK and expanding across Europe & MENA markets.
Common Reporting Standard (CRS) – A global initiative for a financially transparent world with no Tax havens.
Every financial institution scrambling to get over the line of HMRC CRS deadline every year around April and May, Are you pro-active with your planning? Are you ready to submit your CRS with confidence and manage queries back to back with HMRC? We discuss and try to answer the above questions in this blog to give you peace of mind.
In our last article, we discussed about “Best-Fit” and a follow on we wanted to discuss on Data Management. Despite the substantial investment made by banks in data management, the requirement for a platform to carry out manual workarounds to the CRS Input data for impairing the risks of inaccurate reporting continue to persist.
We have been working with Banks and FIs for many years and this question constantly been asked to our consultants and sales team. It’s a million-dollar question and a key strategical decision for your successful integration of your Reg Reporting. A wrong step can be costlier and irreparable.