Temenos Common Reporting Standards

Designed for tax and compliance professionals, the Temenos Common Reporting Standards (CRS) modules help financial institutions of all sizes reduce risk and costs associated with all aspects of the CRS regulations.

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Why Temenos Common Reporting Standards

Temenos CRS is a fully integrated solution that streamlines due diligence and reporting of financial account information of account holders identified as tax residents in non-local CRS participating jurisdictions. Reports are provided in the standard AEoI format, with flexible customization options to meet country-specific needs.

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Fully automated, complete CRS solution

Automate the entire CRS process from client identification, due diligence and reporting, in line with Automatic Exchange of Information (AEoI) requirements and the regulation’s timelines.

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Exhaustive & detailed due diligence process

Examines existing accounts to determine reportable accounts and client classification, including controlling persons for entities, by reviewing client characteristics and processing self-certification questionnaires.

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Replace manual processes and reduce compliance costs

Remove inefficiencies associated with manual processing to better serve your customers and reduce the headline costs of compliance processes.

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Leading-edge technology

Built on Temenos Core Banking, it provides scalable, best-in-class capabilities. This includes advanced API-first technology which empowers banks to rapidly innovate and connect to ecosystems, and enables developers to build their own connectivity or apps.

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Supports extensive output generation options

Provides reports in standard AEoI XML format with the ability to configure output to support country-specific schemas.

Key features of Temenos CRS

Temenos CRS comprises two distinct components: the first handles client identification and due diligence, and the second provides the reporting component in line with AEoI requirements.

Fully automated, end-to-end solution

Significantly reduces inefficiencies and costs associated with manual processes.

Flexible component-based implementation

Modular design enables “progressive renovation” allowing you to implement in phases.

Configuration option to support local jurisdictional requirements

Supports XML file in the AEoI reporting format required by local tax authorities, and allows you to support country-specific CRS schemas through configuration facilities.

Tax/regulatory solutions for global compliance

Temenos CRS is part of the Regulatory Compliance product suite, providing complementary tax and compliance solutions globally.