Temenos Ag · SIX:TEMN
Temenos — Fact Sheet (December 2021)
12 slides from Temenos's fact sheet, December 2021
Slide 1: Temenos Qualified Intermediary
Temenos Qualified Intermediary Designed to meet the requirements of Tax and Compliance professionals. Temenos Qualified Intermediary module helps financial institutions of all sizes reduce risk and improve profitability whilst safeguarding regulatory compliance.
Slide 2: Temenos QI module in Transact: fully automated end-to-end process
Temenos QI module in Transact provides a fully automated end-to-end process designed to support banks who act as Qualified Intermediary (QI) under chapter III of IRS (USA). Our solution enables QI banks to comply with the documentation and withholding requirements relating to income received by its
Slide 3: Key Stats
Key Stats Keeping pace with changing regulations is a major challenge for today’s banks with expenditure on compliance as $270bn per Year.1 Bain & Co. estimates that governance risk and compliance expenditure accounts for 15–20% of ‘run the bank cost’ and 40% of ‘change the bank costs’. 2 NEARLY 150
Slide 4: How We Address Your Goals and Challenges?
How We Address Your Goals and Challenges? Increasingly as banks operate in a growing regulatory environment, many organizations face multiple compliance challenges requiring constant monitoring and frequent audits. Whilst balancing these challenges with the potential for market disruption, as experi
Slide 5: Obligations of a Qualified Intermediary
Under this agreement, a Qualified Intermediary is obligated to: Undertake certain identification and due diligence procedures with respect to its account holders and portfolios; Determine whether income from US income transactions is subject to withholding under either Chapter III (QI) or Chapter IV
Slide 6: What Our Solution Covers
What Our Solution Covers Temenos Qualified Intermediary is a fully automated solution designed to provide an efficient cost-effective process enabling any financial institution acting as a Qualified Intermediary, to identify the withholding tax status of its customers and customer portfolios receivi
Slide 7: Modular approach with Securities, TAX, FATCA and Document validation
In line with Temenos’ strategy of progressive renovation, the modular approach provides clients with the flexibility to either implement QI module in any combination required with the following modules depending on their individual circumstances: Securities module – Processes the corporate actions r
Slide 8: Standalone Qualified Intermediary module installation
Alternatively, the Qualified Intermediary module5 can be installed with TRANSACT but independently of the other modules to interact with a client’s existing Wealth Management and Tax systems. This approach ensures our clients are able to meet their QI withholding obligations with minimal disruption
Slide 9: Features
Features Fully automated end-to-end solution – Reduces inefficiencies and costs associated with manual processes. Component-based implementation – Modular approach provides the option to implement in phases as required. Complimentary Wealth Management/Tax/Regulatory solutions – QI solution is part o
Slide 10: Key Benefits
Key Benefits Supports compliance with Qualified Intermediary rules under Chapter III IRS Ability to increase the banks footprint by supporting its customers investing in U.S. securities Increased automation and accuracy Reduced risk Reduced overheads and cost Better service your customer
Slide 11: Get in touch
Get in touch To find out more about Qualified Intermediary, contact us at sales@temenos.com. temenos.com About Temenos Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily tran
Slide 12: TEMENOS
TEMENOS THE BANKING SOFTWARE COMPANY