Welcome!

News Feed Item

Trillium Software and Convey Form Alliance to Accelerate FATCA Compliance

Comprehensive Solution Delivers Proven, Business-as-Usual Process to Help Ensure Accurate Reporting and Withholding Even as Requirements Change

BOSTON, MA -- (Marketwired) -- 02/12/14 -- Trillium Software, A Harte Hanks Company, (NYSE: HHS) and a leading provider of data assurance solutions for financial services organizations, and Convey Compliance Systems, Inc., the country's leading tax information reporting service provider, have formed a technology and consulting alliance to help financial institutions accelerate compliance with the Foreign Account Tax Compliance Act (FATCA).

Under the FATCA regulation, foreign financial institutions are required to accurately identify, classify and report all clients with US indicia to the US Internal Revenue Service, or face severe penalties. These compliance demands are putting pressure on financial institutions to verify that their client data is sufficiently complete, accurate and free of conflicts to allow applicable accounts to be identified, classified and then reported to the appropriate authorities. The process can be complex, resource intensive, and pose risks to important client relationships.

"Identifying, reporting, and classifying all clients that need to be assessed under FATCA guidelines is a complex and time-consuming task. And yet, financial institutions cannot determine just how massive that undertaking may be until they dig deep into their client data," said Michael Hutnyan, executive vice president, sales and solution strategy at Trillium Software. "By offering a robust FATCA solution that not only expedites the compliance process, but also minimizes costs and assures data integrity, we can help financial institutions avoid penalties while enhancing client service and communication."

By unifying Trillium's proven self-service data assurance capabilities with Convey's leading FATCA tax information reporting (TIR) platform, financial institutions can leverage a sophisticated, yet easy-to-use FATCA solution to expedite compliance while minimizing associated costs, resources and risks. Business leaders can benefit from a proven, repeatable business-as-usual process that can help them fully scope their FATCA project; create accurate client views; and ensure precise client communication, reporting, withholding and record management for FATCA-implicated records.

"As new compliance deadlines loom, financial institutions are facing intense pressure to find an effective FATCA solution," said Jon Paradis, vice president of alliances at Convey. "By leveraging our combined compliance market expertise, Trillium Software and Convey can provide joint customers with the comprehensive solution they need to ensure their organization is FATCA compliant."

The Trillium-Convey FATCA Solution empowers financial institutions to:

  • Access, understand, gain visibility and take control of all client data critical to FATCA compliance by utilizing self-service data assurance capabilities;
  • Report directly to the IRS or other global tax authorities and comply with reciprocity reporting;
  • Identify over and under-withheld accounts; track remittance and reporting deadlines and requirements;
  • Adapt to future FATCA or country requirements with a flexible solution.

About Convey
Convey provides tax information reporting services and software to businesses to make IRS compliance clear and uncomplicated. With Convey's flexible, scalable software and the guidance and focused experience of its service teams, Convey's clients -- from small companies to nearly half of the Fortune 500 -- can be assured that they're complying with regulatory obligations and reporting financial transactions efficiently and correctly. The taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor. Convey reduces risk, improves bottom lines, and provides the clearest path to compliance. Learn more about Convey at: www.convey.com.

About Trillium Software
Trillium Software, A Harte Hanks Company, is a leading, global enterprise data quality solutions provider. Our data quality specialists help organizations achieve increased business from their data management initiatives and existing business-critical processes by providing enterprise data profiling and data cleansing software and services. Trillium offers industry-specific business solutions that help solve data problems experienced by financial services, banking, compliance, insurance, risk, and retail professionals. Trillium's full complement of technologies and services includes global data profiling, data cleansing, enrichment, and data linking for e-business, customer relationship management, data governance, enterprise resource planning, supply chain management, data warehouse, and other enterprise applications. For more information about Trillium Software and its offerings, call (978) 436-8900 in the United States and in the United Kingdom call +44 (0) 118 940 7666, or visit Trillium Software online at http://www.trilliumsoftware.com.

About Harte Hanks
Harte Hanks (NYSE: HHS) is one of the world's leading, insight-driven multi-channel marketing organizations, delivering impactful business results for some of the world's best-known brands. Through strategic agencies and our core marketing services, we develop integrated solutions that connect brands with prospects and customers, moving them beyond awareness to transactions and brand loyalty. Visit the Harte Hanks website at http://HarteHanks.com or call (800) 456-9748.

As used herein, "Harte Hanks" refers to Harte-Hanks, Inc. and/or its applicable operating subsidiaries, as the context may require. Trillium Software®, Trillium Software System®, Total Data Quality™ , Harte Hanks' logo and name are trademarks owned by Harte Hanks.. All other brand names, product names, or trademarks belong to their respective owners.

Add to Digg Bookmark with del.icio.us Add to Newsvine

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
We’ve been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that’s just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we’re not even aware of the information we are providing. It could be very personal information (think of the security questions you ...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...