If you’re a bank or financial institution you’ll need to report on some of the clients you onboard, to comply with tax-related regulations.
We built Classification Catalyst to help with key challenges around determining whether and how to report on your clients:
- Efficiently separating NGOs and other irrelevant entities from those that require Foreign Account Tax Compliance Act (FATCA), Common Reporting Standard (CRS) and other regulatory reporting
- Relying on time-consuming client questionnaires and outreach
- Searching for reliable information using patchy and disparate public sources
- Finding customizable reporting tools for your specific portfolios and geographies
Classification Catalyst helps you meet these challenges
Classification Catalyst pulls company information from our Orbis database, named the Best Entity Data Solution for 2 years in a row, to help you classify entities in your portfolio. With information on companies in all countries, it helps you classify your client’s status in the time it takes to search for and validate their name.
We applied a scoring method, using a decision-tree model, to create Classification Catalyst. It does the work for you, centralizing your research and reducing the need for client outreach and people power.