fatca compliance solution by newgen
TRANSCRIPT
FATCA – A Newgen viewpoint presentation
Untamed
Un Chartered
Unknown
• Software Products in Business Process Management (BPM),
Enterprise Content Management (ECM) & Customer Communication
Management (CCM)
• Global footprint with 800+ ECM and BPM installations in 40
countries across Verticals
• Over 150+ customer’s in BFSI
• Established Engagement in the Caribbean's.
• Over 100+ mission-critical processes deployments
• Credited with some of the world’s largest implementations
• Innovative culture, Consistent R&D investments, 35 patents
• Certified for ISO 9001:2008, ISO 27001:2005 and CMMI Level3
Investors
Offices
USA
UK
UAE
Malaysia
India
Newgen Overview
What does it take to be the best
Always one step aheadThat’s where we keep our clients
1. Timing : FATCA is now a timing challenge (not just in terms of key dates but pace of preparation and execution readiness).
2. Business Impact: FATCA will have ‘front-to-back’ impact through financial institutions: from customer awareness and information management, through establishing a Transparent, Repeatable and Consistent Process.
3. Opportunity: FATCA is not just a challenge, it is an opportunity: to improve customer data quality and availability, to open new dialog with customers, to transform compliance in this key area. FATCA will have major implications for customer data quality and availability.
4. Imperative and Impending: FATCA is a ‘must fix’ not a ‘maybe fix’, it at a ‘five minutes to midnight’ critical stage – it WILL happen and financial institutions need to have a clear picture of their readiness.
5. Immediate: The time to act is NOW.
FATCA – The road ahead
5
6
Agile Solution Framework
Financial Service Frameworks
Revenue Growth Customer Experience Operational Risk and Efficiency
Ret
ail
Len
din
g
We
alth
Car
d
Co
mm
erci
al
Def
ault
Man
agem
ent
Secu
riti
es
Ch
eck
s
Issu
er
Acq
uir
er
Co
llect
ion
s
Co
mm
erci
al
Customer Onboarding
Know your Customer
Up Selling/Cross Selling
Newgen Unified Process Automation Framework (UPAF)Pa
ymen
ts
Branch Centralization
and Automation
Compliance - FATCA
Corporate Credit
Exceptions Management
Request Management and
Query Management
Customer Communication
Management
ImagingDocument
Management SystemBusiness Process
Management
Customer Communication
Management
Retail and Commercial
BankingInsurance
Investment Banking
Custodian and Asset
Management
Cross Industry Platform
8
Audit
Accurate
Agile
Identification
Classification
Documentation
Retention
Maintenance
Reporting
Comprehensive FATCA solution framework
9
KYC and Due Diligence
Rules based Identification and
Classification
Configurable soft templates for best
practices
Alerts, Exceptions and Escalation Management
Automation framework for communication
management and Audit
Documents and Records Management
Dashboards for Regulatory Reporting
US Indicia and Aggregate Balance checks and control
charts
Withholding rules and associated reporting
InitiationDue
DiligenceRisk Rating Decisioning
FATCA – Agility, Readiness and Completeness
Legacy SystemsCheck Points
Know Your Customer System
CIF
Records
On Boarding
US
Ind
icia
US Citizenship
Mailing Address
Permanent Address
Articles of Incorporation
Country of Incorporation
W-9 Form
Underlying/ Related Party
Registration and Segregation
Master Folder
Rules driven Due Diligence
Case Validation
Value of Account
Exempt
Due Diligence and Audit
DocumentationDue
Diligence
Classification
RecalcitrantNon-US
Acct
Decision and Reporting
Auto-Resolve
Report to Tax
US Acct
Integrations
Monitoring and Control
WHT Reporting
Core Systems
XYZ Corp
XYZ Corp•KYC Details•Account Info•Validations
For Future use, compliance review, reporting
For Future use, compliance review, reporting
Case Management
Document Management
Communication Management
11
Rome was not build in a day
Slow Trigger, Fast Bullet
Driving Compliance through Process Automation
How do I educate my peers on what we need to do?
How can I engage re-using your
Best practices templates?
How can we engage to create
business case?
How do we build process KPI’s and Dashboards?
Where do I start? 30/60/90 day plan……..
How do we Engage – Our FATCA Engagement Model
13
Completeness and Readiness of a Future Ready Solution.
Reduced risk through best practice templates and on-time
implementation.
Significantly lower resource tie-up
Much lower costs for the solution to adapt to new requirements with the
configurable BPM framework
Predictable maintenance costs and user empowered training program
Lower TCO driven by 60-90 day roadmap
New age technology enables ease of integration with multiple systems
Extensibility of the solution to other valuable process automation
initiatives.
Newgen – Value Add
14
Together we Win
15
Ashish Deshmukh
_________________________________________________________________
Director- Business Development | Newgen Software Inc. |
Cell : 703-439-0703 | 1364 Beverly Road, Suite 300, Mclean, VA – 20121
Lets make a difference together