Financial Institution Transforms their CRS Compliance with TAINA

By Abigail Hawthorn
21.01.2025
Read Time: 5 minutes
TAINA, TAINA case study, TAINA use case, CRS, Common Reporting Standard, CRS compliance, CRS reporting, CRS audits, CRS reportable

Global Tier 1 Bank Transforms their CRS Compliance Processes with the TAINA Platform

Onboarding and maintaining compliance with the Common Reporting Standard (CRS) can be a daunting task for financial institutions. A Global Tier 1 Bank faced significant challenges with their manual CRS compliance process, which led to inefficiencies, low form completion rates, and a cumbersome customer experience.

Discover how a Global Tier 1 Bank transformed its CRS compliance process with TAINA's automated solution. By integrating TAINA's platform into their online banking system, the bank significantly enhanced customer experience, reduced operational workload, and improved data accuracy.

 

Key Challenges:

  • Manual review of CRS forms created a cumbersome process

  • Frequent back-and-forth interactions to correct incomplete or inaccurate data

  • Low form completion rates and significant data quality issues

  • Extensive time spent by the operations team on reviewing and validating forms, particularly during peak reporting periods

 

Key features of the solution include:

  • Real-time data validation during CRS Self-Certification forms submission journey

  • Multilingual Support that enhances data collection and validation from the outset

  • Ongoing monitoring for changes in customer circumstances

 

At TAINA, we are committed to helping financial institutions streamline their CRS compliance processes.

To learn more about how TAINA's automated CRS compliance solution can benefit your organization, fill in the form to download the full case study or get in touch with us today.

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Download The Automated CRS Compliance Case Study