How you can speed up regulatory classification of your clients – and reduce client outreach

We've built a new tool, Classification Catalyst, to help you determine the status of your clients for FATCA and CRS reporting in the time it takes to search for and validate an entity's name.

Certain tax-related regulations require banks and financial institutions to report on some of the clients they onboard. FATCA – or the USA's Foreign Account Tax Compliance Act of 2010 – is one such important example. The OECD's Common Reporting Standard (CRS) is another.

But whether to report on them and how companies should be reported is dependent on each company's status or "classification", which is often hard to determine.

Classification Catalyst does the work for you 

This first stage in the process can involve having to repeatedly ask your clients for information, a frustrating practice for banks and your clients alike. Client outreach is best minimised. Or it means piecing the picture together from disparate and patchy publicly available information.

Classification Catalyst does most of this status identification work for you. 

Pulling information from our Orbis database of 275 million private companies, it uses decision-tree computations to work out where organisations fit into regulatory reporting requirements.

More information and signing up for a trial

For more information and to request a trial visit our product page.