FATCA Presents Opportunity To Create Competitive Value
Rather than just build another database to meet a regulatory requirement, firms should build an architecture that harnesses the power that is available in a company's data.
June 07, 2013
FATCA, or the Foreign Account Tax Compliance Act , is in danger of going the same route as most other regulations -- regulator expectations mismatched to financial institutions' motivations, a declaration of imposition on business competitiveness and the repeat of another expensive data integration endeavor with a point solution that solves the regulatory report, but adds little transparency that the regulators demand nor the competitive agility that the firms need.
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