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FATCA FIND Enhanced Through Collaboration between Navigant and Appway
|By Business Wire
|June 25, 2014 11:27 AM EDT
Today, Navigant (NYSE: NCI) and Appway announced that FATCA FIND®,
Navigant’s proprietary software solution designed to efficiently address
the onerous requirements for pre-existing account review dictated by the
Foreign Account Tax Compliance Act (FATCA), has been enhanced by
combining Appway’s award-winning technology with Navigant’s
industry-leading financial services expertise.
“The July 1, 2014 deadline for complying with FATCA is quickly
approaching and enforcement will follow. Financial institutions need
strong, proven technology to help them review hundreds of thousands of
accounts for compliance,” states Ellen Zimiles, Managing Director and
leader of Navigant’s Global Investigations & Compliance practice. “With
FATCA FIND now on the Appway Platform, companies can seamlessly apply a
robust tool to automate parts of this complex review process.”
FATCA FIND is a logic-based, question-driven application that combines
Navigant’s FATCA expertise with Appway’s cutting-edge technology. FATCA
FIND, through collaboration with Appway, has been enhanced with an
improved support infrastructure and is quicker to install and easier to
configure. Additionally, the solution enables full traceability, and
allows both novice and expert FATCA resources to simply and efficiently
complete account reviews.
FATCA takes effect July 1, 2014 and requires non-U.S. financial
institutions to identify account holders who are U.S. citizens and
residents and to categorize entity account holders into one of a number
of classifications. The data points required for this analysis can often
be found in the electronic and paper records associated with each
account. FATCA FIND assesses account data as required for FATCA
compliance in both Intergovernmental Agreement (“IGA”) and non-IGA
FATCA is among the top priorities that Appway addresses in client
onboarding for the financial services industry. “We’re excited to merge
Appway’s technology and commitment to compliance with Navigant’s
detailed FATCA knowledge to assure that financial institutions meet
FATCA requirements and continue to deliver high quality client service,”
said Philip Schoch, Appway’s Product Manager for Client Onboarding.
More information about FATCA FIND and Navigant’s FATCA services can be
found at www.navigant.com/fatca.
About Navigant’s Global Investigations & Compliance Practice
Navigant’s Global Investigations & Compliance practice brings critical
expertise and resources to clients to assist them with identifying,
assessing and managing the compliance and business risks related to
financial economic crimes, money laundering, sanctions, bribery and
corruption matters, investigative due diligence, FATCA, monitoring and
forensic accounting investigations related to fraud, waste and abuse.
Navigant (NYSE: NCI) is a specialized, global expert services firm
dedicated to assisting clients in creating and protecting value in the
face of critical business risks and opportunities. Through senior level
engagement with clients, Navigant professionals combine technical
expertise in Disputes and Investigations, Economics, Financial Advisory
and Management Consulting, with business pragmatism in the highly
regulated Construction, Energy, Financial Services and Healthcare
industries to support clients in addressing their most critical business
needs. More information about Navigant can be found at www.navigant.com.
FATCA FIND® is a registered service mark of Navigant.
About Appway Client Onboarding
Appway is the global leader in client onboarding for the financial
services industry. In an era of soaring global competition and increased
regulations, Appway Client Onboarding boosts efficiency, assures legal
and tax compliance, and guarantees outstanding client experience.
Flexible and agile, Appway’s award-winning Client Onboarding empowers
financial institutions to adapt quickly to external pressures and create
high-quality digital experiences. www.appway.com/clientonboarding
Appway empowers the service industries to move beyond automation toward
ongoing digital transformation. With its seamless orchestration of
people, knowledge, and systems, Appway promotes collective intelligence
and enables businesses to reinvent for the digital age. Headquartered in
Zurich with offices in New York, Hong Kong, and Singapore, Appway and
its award-winning technology serve over 100 service institutions and
175,000 individuals worldwide. www.appway.com
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