The Common Reporting Standard (CRS) is a global standard for the automatic exchange of financial account information between governments around the world to help fight against tax evasion. It requires all financial institutions that operate in a CRS participating jurisdiction to gather customer information and report it their local tax authorities.
Built for Financial Institutions
The Temenos CRS solution has been designed to enable Financial institutions to comply with the Common Reporting Standards.
The Temenos CRS modules have been designed to comply with all aspects of the Common Reporting Standards and can readily support the reporting of both Personal and Corporate customers.
Due Diligence Procedure
The Temenos CRS provides support for both internal due diligence processes and customer self-certification information.
Reporting & Information Exchange
The Temenos CRS modules provide Financial Institutions with the ability to create CRS compliant submission files ready for uploading to the local Tax Authority.
Temenos can also provide extensive support to Financial Institutions operating in jurisdictions that have country-specific variations to the Common Reporting Standards.