it waking up to fatca vendor screening · 2013-02-20 · signed a new tax regime; the foreign...

IT waking up to FATCA Vendor Screening

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With the assistance of Andrej Psorn, Mehmet Ünüvar, Zsofi a Kerkapoly and Melanie KrisoData provided from Vendors as per 31.03.2012Update Version

April 2012, 56 pages

2 PwC 2012


Preface

On March 18, 2011, President Obama signed a new tax regime; the Foreign Account Tax Compliance Act (FATCA). Its purpose is to identify and report taxable income from US persons and non-US entities with US ownership to the US tax authority, the IRS.

FATCA extends the scope of the Qualifi ed Intermediary (QI) Act. The QI Act only covers those persons who have fi lled in the W-9 form and who hold assets in US securities. This resulted in loopholes such as the setting up of foreign entities being extensively used to avoid tax detection by the IRS as well as tax payments.

FATCA sets out to close these loopholes by obligating fi nancial institutions to report to the IRS. Financial institutions who do not comply with this regulation will be penalised with a 30 % withholding tax on any payment of sales proceeds or income from US securities.

It comes as no surprise that under FATCA the impact on fi nancial institutions will be severe, as it affects the entire value chain and will require adaptation of the banks’ core banking systems.

PwC has recognised the issues its clients are facing with the upcoming regulation and has conducted a comprehensive global survey with the goal of identifying possible IT vendors and their FATCA specifi c IT solutions. By doing so, PwC can channel its existing FATCA expertise when selecting a range of various different vendor approaches. This enables us to create a more client focused approach.

The purpose of this report is to provide the reader with a detailed overview of poten-tial software vendors and their FATCA specifi c solutions. In doing so, different aspects of functionalities have been as-sessed:• Company Profi le • FATCA Functionality• Architecture • Schedule for FATCA• Fees• Special Features

A considerable emphasis has been placed on FATCA specifi c functionalities:• Identifi cation• Reporting • Withholding

We would like to thank the 30 companies who have invested their time and resources to provide us with input for this study. Moreover we need to point out that all information in this document is provided by the contacted vendors “as is”, with no guarantee of completeness or accuracy. In addition we would like to thank the PwC research department. Without their support this report would not have been possible.

Vienna, Mai 2012

Thomas Strobach Partner PwC

Günther SeyerSenior Manager PwC

FATCA Vendor Screening 3


4 PwC 2012


Table of Contents

A Introduction and Background 6

B Our FATCA Service Offerings 8

C Our Approach 10

D Overview of Available Solutions 12

E Detailed Analysis on FATCA Vendors 14

3i-Infotech – WHTPro 16 ABBA – NovoDoba 17 Atos 18 Avaloq – Avaloq Banking Syste m 19 Bavaria Banken Software – IBP 20 Callatay & Wouters – Thaler 21 Center of Financial Technologies (CFT) 22 COR&FJA 23 CSC – iBS-FAIR 24 Detica – Detica NetReveal® 25 Diasoft – Flextera 26 ERI – Olympic Banking Syste m 27 Finnova 28 FORS Banking Systems 29 iBS – iBS-FAIR 30 ICSfs – ICS BANKS® 31 Infosys – iCOP 32 Intracom IT Services – PROFITS 33 Natech – CSB 34 PASS Consulting Group 35 Path Solutions – iMAL 36 Profi le – IMSplus 2.0 37 SDS – GEOS 38 SimCorp – SimCorp Dimension 39

F Appendix – The Data Table 40

G Table of Illustrations 51

H Abbreviations 52

I The PwC Tea m 53

J About PwC 55



A Introduction and Background

Identifi cation of US Accounts FFIs need to identify all US accounts held directly or indirectly by US persons. Indirect US account holders are US per-sons who control more than 10 % of a foreign company.

Reporting FFIs that sign the IRS contract need to provide the following information on US persons/US accounts to the IRS:• Name• Address• Account and custody number • Gross receipts and gross withdrawals• Further information, if requested by

the IRS

WaiversIn order for FFIs to be authorised to pro-vide data to the IRS, FFIs fi rst need to obtain waivers from their clients, in order to be able to override national bank se-crecy and data protection laws.

Consequences for non-partici-pating FFIsA 30 % withholding tax will be imposed on any US source income paid to FFIs and NFFEs as well as on the gross proceeds from the sale of any property that can produce US source income.

The US legislator signed FATCA into law as part of the Hiring Incentives to Restore Employment Act (HIRE Act). Its aim is to ensure that fi nancial institutions, wher-ever they are located, identify all persons who are obligated to make tax payments in the US and report them to the IRS, or otherwise withhold a 30 % tax on any US revenues.

The reasoning behind this regulation lies in the fact that many US citizens have used foreign fi nancial entities as a means of hiding their taxable proceeds from the IRS. The Obama Administration wishes to counteract this behaviour by enacting stricter reporting requirements on US persons and their accounts.

Foreign Financial Institutions (FFIs) will be obliged to provide extensive informa-tion on their US clients to the IRS on an annual basis. The requirements can be found in Chapter 4, under sections § 1471 – § 1474 of the Internal Revenue Code (IRC). Sections § 1471 – § 1474 address the following topics:

Chapter A Introduction and Background

6 PwC 2012


FATCA has a huge impact on fi nancial institutions because it affects not only client relationship management but also the entire process from front to back offi ce. This means that adaptation of banks’ core banking systems will be required.

FATCA is one of many areas that must be addressed to meet the extended US tax reporting requirements.The upcoming regulation requires all banks to establish a disciplined approach to managing customer information (e.g. client on-boarding, KYC, transaction data, credit) from which a determination will be made as to whether a customer has US indicia or not.

As FATCA will become effective in stages, starting on 1 January 2013, FFIs need to act fast. A full impact analysis needs to be prepared in the fi rst stage. In the second stage, FFIs need to decide on a clear strategy on whether they are still willing to provide services to US persons and if US securities are to remain part of their portfolios. If the answer to both questions is yes, FFIs need to sign the IRS agreement, under which they obligate themselves to report specifi c customer information to the IRS. Please fi nd below the timeline that in-cludes the key facts on FATCA.

FATCA

FBAR

Cost Basis

Reporting

US Recipient

Reporting &

Withholding

(QI Part) NRA

Reporting &

Withholding

(QI)

Foreign

Withholding

Trust

Foreign

Withholding

Partnership

Figure 1. US Tax Reporting Pie

Core Skills Tax Technical

Business Process

Technology Data

Merchant

Card

Reporting

FATCA Schedule

Identifi cation

Reporting

Withholding

Figure 2. FATCA Milestones

2013 2014 2015

01/07/13 last possible signing date

01/07/13 “New Customer” Account

opening procedures in place to

identify US Accounts opened

after 01/07/2013

30/09/2014First reporting

(for 2013)

31/03/2015Reporting

(for 2014)

01/01/14Withholding is applicable to

US source FDAP income

01/01/15Withholding is applicable

to gross proceeds

01/07/15Due diligence completed

for all accounts other than high

value accounts (2 years after

effective date of the FFI

agreement)

30/06/14“Pre-existing Customer” Due

diligence completed for high value

accounts with a value of $ 1.000.000

or higher (1 year after effective date

of the FFI agreement)

01/01/17Withholding is applicable

to “foreign passthru

payments”



B Our FATCA Service Offerings All three statuses require the bank to

report client information to the IRS. The implementation scenarios include the data needed by the IRS to give the compliant status to the fi nancial institution.IT systems are always involved when FATCA is implemented in the business processes of the fi nancial institution. The level of complexity depends on two factors:

• The banks IT-architecture• The chosen compliance status with

the IRS

The IT architecture is a given fi gure at least for the short term observance. The determining factor for the implementation effort is the chosen compliance status with the IRS.

Taking the IT solutions on the market in to account there are four scenarios for a possible FATCA implementation in to a fi nancial services institutions IT land-scape.

The impact of US FATCA compliance on the banks IT systems depend on a number of factors. These factors have to be consid-ered during the decision processes in order to make an effi cient change in processes and systems together.

For the possible implementation scenarios we assume that the bank has opted for one of the three compliance statuses:

1. Deemed (D) Compliant (no US clients / accounts)

2. Smart (S) Compliant (only Internal Revenue Service (IRS) reporting and no tax withholding)

3. Full (F) Compliant (reporting and withholding )

Possible Implementation Scenarios D S F Effort

FATCA functionality and logic integrated in standard

banking software by the vendor.X X X

FATCA reporting engine with interfaces to core systems

(no tax withholding functionality)X X

FATCA engine module with interfaces to relevant core

systems (identifi cation, reporting and withholding functionality)

extendible for future tax relevant identifi cation of clients.

X X

FATCA customizing within relevant core systems. (Flagging

client objects as FATCA relevant and that they have agreed on

IRS reporting. Adding tax logic to relevant software modules)

X X

Chapter B Our FATCA Service Offerings

8 PwC 2012


Within these scenarios PwC can support fi nancial institutions in all the necessary tasks to comply with the US FATCA re-quirements. We have experienced teams that are already working on international projects to start the FATCA implementa-tion in several fi nancial institutions. We can also draw from a wide range of experienced experts that have implement-ed withholding tax regimes in several banks in Austria, Germany and Switzer-land.

Task Activities Services

Data Analysis

• Client Selection, Data Mining,

• Impact analysis and calculation of FATCA impacts on IT architectureAdvise / Support

IT Process Management

• KYC-/AML-Processes/systems, Client Information Systems, Adjustment of Application Forms

• Setup of IRS Tax Reporting System (e.g. IRS Form 1099, 1042, W-8, W-9),

• Setup of withholding solution and surrounding processes

Advise / Support

IT Project Management

Transformation

• Project Management /PMO, Synchronization with other Initiatives, Release Cycles / Management

• Advise the IT-Architecture BoardLead / Execute

IT Sourcing / Migration• Third-Party/Service Provider Management,

• SLA/KPI-MonitoringLead / Execute

IT Controls & Compliance • Architecture analysis, Assurance of IT process compliance status Advise / Support

Core Transform

• Client Master Data Systems, Data Quality Activities,

• Adjusting Core-Banking-Systems, Account Management Systems, Client On boarding Systems.

• Selection support for third party software modules or outsourcing provider

• Interface analysis for impacted systems.

Lead / Execute



C Our Approach System architecture is another very important element of Part 1. Most compa-nies provide the system architecture using a graphic, in order to indicate the connec-tion between various elements or modules of a software solution. However, as we could not obtain graphical illustrations from all companies, we set out to describe the architecture in words. Modular archi-tecture is based on various individual components of a vendor’s system. This may include user interfaces, reporting tools, data bases, etc. The interconnection of these modules provides us with useful information on the complexity of a par-ticular system. The advantage of a modu-lar structure is that new modules can be easily introduced and old ones can be deleted if client requirements change.

Part 2 is the heart of the report as it provides valuable input on FATCA specifi c solutions. It centres around three main functionalities; identifi cation, reporting and withholding. The aim is to capture company specifi c approaches towards FATCA solutions. Following this, Part 2 provides answers to questions on modular requirements. Here we try to identify if new modules will be necessary or if existing ones are being upgraded. Inter-esting is also the interconnection between these modules. Furthermore, Part 2 also describes QI reporting. This is especially interesting, as it is to a certain extent inter-connected with FATCA reporting require-ments.

In August 2011, PwC started its global research on FATCA vendors and their software capabilities. The initial phase involved sending out a questionnaire to software vendors who focus on providing solutions for banking, insurance and asset management.

The questionnaire is divided into three parts:

Part 1 looks into the profi le of the com-pany. It focuses on the date of establish-ment. This is particularly important as it can be seen as an indicator of a company’s success. Usually, mature software compa-nies have proven core banking systems and a broad client base. Part 1 also con-tains information on the company’s business focus and its core products. The vigilant reader will fi nd that most soft-ware vendors are also providers of core banking systems and already have proven systems in place. We refer to these as integrated solutions. On the other hand a small number of companies provide stand-alone solutions.

Chapter C Our Approach

10 PwC 2012


Part 3 is divided into four boxes, with each box providing important information on certain issues. The fi rst box, special features, sets out to capture details on company specifi cs. One company specifi c could be its ISO standard. QI reporting and cost basis reporting can also be con-sidered special features. The second box, entitled architecture, provides informa-tion on the programming language, platform, database and mainframe used. This is very important, as it is an indicator of the interconnectivity of the software with third party systems. The third box provides information on the FATCA schedule. The last box called fees contains information on licence, maintenance and implementation fees.

In order to provide a valuable and compre-hensive report, the PwC research depart-ment, in cooperation with the Financial Services team, contacted 143 companies situated throughout the world. The re-sponse rate was 48 %. The second stage involved analyzing the feedback received. Of those companies which provided initial feedback 34 % offer FATCA specifi c solu-tions.

143 companies

48 %response rate



D Overview ofAvailable Solutions

The following page contains a graphical illustration (Fig. 4) on the release schedule of FATCA solutions by various vendors. Green bullets indicate that the demo prototype is already available, while yellow bullets point towards a specifi c year and quarter. Red bullets represent major FATCA releases, which are not necessarily fi nal releases. Certain compa-nies such as COR&FJA or IBS provide major releases in several stages.

The following illustration (Fig. 3) provides the reader with a comprehensive overview of vendors of FATCA solutions which are left in the fi nal stage of our analysis. Companies are classifi ed according to their market orientation as well as their scope of engagement within the fi nancial in dustry.

The illustration (Fig. 5) classifi es vendors according to the nature of their solution, which can be either integrated, standalone or both. This is particularly important as integrated versions can only be imple-mented on explicit core banking systems. It can be assumed that vendors who develop core banking systems will inte-grate FATCA functionalities into their existing core banking framework. On the other hand, standalone solutions can be used as separate modules to cover identifi -cation, reporting and withholding and are not necessarily dependent on predomi-nant core banking systems.

Vendor Solution Scope

Central

ABBA NovoDoba Banking

Bavaria Banken IBP Banking

Natech CSB Banking

Software Daten Service Gmbh GEOS Banking

East

FORS Va-Bank Banking / Asset Management

CFT CFT Banking / Asset Management / Insurance

Global

Callatay & Wouters Thaler Banking

INTRACOM Profi ts Banking

Path solutions iMAL Banking

COR&FJA COR&FJA Banking Suite Banking / Insurance

CSC iBS - Fair Banking / Insurance

IBS iBS - Fair Banking / Insurance

ERI Olympic Banking System Banking / Asset Management

Avaloq Avaloq Banking System Banking / Asset Management

Finnova Finnova Banking / Asset Management

ICSfs ICS BANKS Banking / Asset Management

3i Infotech WHTPro Banking / Asset Management / Insurance

Atos FACTA Suite Banking / Asset Management / Insurance

Detica Detica NetReveal Banking / Asset Management / Insurance

Diasoft Flextera Banking / Asset Management / Insurance

Infosys iCOP Banking / Asset Management / Insurance

PASS Consulting Group N/A Banking / Asset Management / Insurance

Profi le IMSplus 2.0 Banking / Asset Management / Insurance

SimCorp SimCorp Dimension Banking / Asset Management / Insurance

Figure 3. Vendor Classifi cation by Region

Chapter D Overview of Available Solutions

12 PwC 2012


Figure 4. FATCA – Vendor Release Schedules

2011

Q 1 Q 2 Q 3 Q 4 2012

Q 1 Q 2 Q 3 Q 4 2013

Q 1 Q 2 Q 3 Q 4

Vendor Type of Solution

3i Infotech Integrated

ABBA Integrated

Avaloq Integrated

Callatay & Wouters Integrated

CFT Integrated

Detica Integrated

Diasoft Integrated

Finnova Integrated

FORS Integrated

ICSfs Integrated

Natech Integrated

Path solutions Integrated

SimCorp Integrated

COR&FJA Standalone

CSC Standalone

IBS Standalone

Software Daten Service Gmbh Standalone

Atos Standalone/Integrated

Bavaria Banken Standalone/Integrated

ERI Standalone/Integrated

Infosys Standalone/Integrated

INTRACOM Standalone/Integrated

PASS Consulting Group Standalone/Integrated

Profi le Standalone/Integrated

Figure 5. Type of Solution

Demo Prototype Available Demo Prototype Release Major Release

3i Infotech

Atos

Abba

Avaloq

Bavaria Banken

Callatay & Wouters

CFT

COR & FJA

CSC

Detica

Diasoft

ERI

Finnova

FORS

IBS

ICSfs

Infosys

Intracom

Natech

PASS Consulting

Path Solutions

Profi le

SDS

Simcorp

Figure 5a. Type of Solution

Integrated

57 %

Standalone/

Integrated

26 %

Standalone

17 %



E Detailed Analysis on FATCA Vendors

Chapter E Detailed Analysis on FATCA Vendors

14 PwC 2012


3i-Infotech – WHTPro 16

ABBA – NovoDoba 17

Atos – FATCA Suite 18

Avaloq – Avaloq Banking Syste m 19

Bavaria Banken Software – IBP 20

Callatay & Wouters – Thaler 21

Center of Financial Technologies (CFT) 22

COR&FJA 23

CSC – iBS-FAIR 24

Detica – Detica NetReveal® 25

Diasoft – Flextera 26

ERI – Olympic Banking Syste m 27

Finnova 28

FORS Banking Systems 29

iBS – iBS-FAIR 30

ICSfs – Olympic Banking Systems 31

Infosys – iCOP 32

Intracom IT Services – PROFITS 33

Natech – CSB 34

PASS Consulting Group 35

Path Solutions – iMAL 36

Profi le – IMSplus 2.0 37

SDS – GEOS 38

SimCorp – SimCorp Dimension 39

The following pages provide the reader a detailed overview of vendors of FATCA solutions.



Company Details

2011 2010 2009

Turnover $ 567m $ 517m $ 503m

Employees 11,500* 15,000 13,500

Offi ces 28* 50 50

Countries 14 14 14

Customers 1,500+ 1,500 1,500

* During 2010/11 a part of 3i-Infotech was sold. This

reduced the number of employees to 11,500 & the

number of offi ce to 28

3i-Infotech – WHTPro

Standalone / Integrated

Global / Central / East / West

Banking / Insurance / Asset Management

Headquarters: Mumbai, India

www.3i-infotech.com

Special Features • ISO 9001:2008

Architecture • Programming language: Java, Caché• Platform: Windows, Unix, Linux• Database: Caché database from Inter-

systems Inc• Mainframe: N/A

Schedule for FATCA • Demo release: 3i-Infotech are able to

demonstrate the basic architecture using its current solution for QI

• Preliminary release: N/A• Major FATCA release: N/A

Fees • Licence fees: based on the number

of users• Implementation fees: dependent upon

the system in use & complexity of implementation

• Maintenance fees: set at 20 % of the licence fees

Identifi cation Data Importer and IRS Data Manager

as described above Documentation Manager maintains

IRS specifi c data

Reporting WHTPro delivers fl exible reporting

options for both management report-ing and completion of IRS returns

Withholding Withholding is calculated using the

relevant country taxation rates in conjunction with the entity’s status

Company Profi le 3i-Infotech, a global provider of software solutions for a variety of industries includ-ing Banking, Insurance and Asset Man-agement, is also established in the non-fi nancial industries. It has designed WHT-Pro, a centralised solution for data importing from multiple systems

3i - Infotech – WHTPro

FATCA Functionality WHTPro aims to cover all areas that are necessary for com-pliance with the US withholding tax regime. Its Data Import-er gathers client, transactional and income data required on an ad-hoc or periodic basis. WHTPro provides a number of modules to consolidate proper data and maintain documen-tation as required by the IRS (i.e. W8-BEN form). Taxation agreements, US tax trea ties, and IRS core data can be main-tained through dividend processing

16


Company Details

2010 2009 2008

Turnover € 0.54m € 0.6m € 1.1m

Employees 12 11 10

Offi ces 3 3 3

Countries 1 1 1

Customers 4 4 3

ABBA – NovoDoba



Banking

Headquarters: Osijek, Croatia

www.abba.hr

Special Features • ISO 9001:2008 • Is currently certifying ISO 27001

Architecture • Programming language: VB, VB.NET,

C#,C++, SQL• Platform: Independent• Database: MS SQL • Mainframe: X86

Schedule for FATCA • Demo release: available within three

months if it is used with its own core banking system

• Preliminary release: available within six months if it is used with its own core banking system

• Major FATCA release: Q4 2012

Fees • Licence fees: depend on the Core System

used• Implementation fees: set at 15 % of the

licence fees • Maintenance fees: depend on the Core

System used

Identifi cation Rule based decision engine

Reporting Reporting engine with user interface,

generates different format outputs including XML, XLS and IRS

Withholding A separate module covers with-

holding

Company Profi le ABBA is a Croatian based company that specialises in providing solutions for the banking industry. The company is estab-lished in the Eastern European region. ABBA employs experts ranging from former members of bank supervisory boards and heads of branches through to directors of banks

ABBA – NovoDoba

FATCA Functionality ABBA’s core banking system “NovoDoba” is a multi-layered system of banking applications for medium sized banks that includes 30 different services. Client segmentation is fully supported by the system. The latest version of NovoDoba uses ABBA Smart Input, an input method of various client specifi c tags (identifi cation number, name, surname, initials, etc.)



Company Details

2011 2010 2009

Turnover N/A € 8.6bn € 5.0bn

Employees N/A 74,000 50,000

Offi ces N/A >100 >100

Countries N/A 42 40

Customers N/A N/A N/A

Atos – FATCA Suite



Insurance / Asset Management

Headquarters: Bezons, France

www.atos.net

Company Profi le Atos is an international information technology services company serving a global client base by delivering hi-tech transactional services, consulting and technology services, systems integration and managed services. Besides banking and insurance, Atos is also well established in non-fi nancial industries. It was formed on July 1st 2011 from Atos Origin and Siemens IT Solutions and Services GmbH

Special Features • Global Delivery Platform based on ITIL

and CMMI standards • FATCA as a Service (design, implementa-

tion, maintenance/support and operations by Atos)

Architecture • Programming language: Java EE • Platform: any platform supported by the

application server and database vendor • Database: Oracle (11g) is preferred, alter-

native databases (e.g. DB2) possible

Schedule for FATCA • Demo-system with restricted functions is

already created and will be enhanced according to customer requirements

Fees • License fees: depending on business model

–pay per use (“FATCA as a service”) or fi xed rates based on the number of users

• Implementation fees: dependent upon the system in use & complexity of implemen-tation and customer requirements

• Maintenance fees: set as a percentage of the licence fees

Identifi cation The Module Identifi er includes a rule

based decision engine for customer classifi cation, tools to check withhold-able payments in a client́ s payment transaction systems and a masterdata administration (where required)

Reporting The Module Delivery Engine generates

IRS-reports, templates, other indi-vidual (internal) reports and textfi les. The module supports IRS required formats as well as XML and other best practice formats

Withholding The Module TAXcalculator is calculat-

ing the FATCA tax based on customer classifi cation, kind of payment order and -where required – ppp-percentage

Atos – FATCA Suite

FATCA Functionality Atos’ FATCA Suite is an integrated solution to meet FATCA compliance regulations either with none or as little changes as possible to the client’s existing IT systems. The suite com-bines different modules and a fl exible architecture which allows tailoring the solution to client’s needs as well as the integration of individual modules in existing application land-scapes. Main Modules include the following: Identifi er (Iden-tifi cation and categorising of IRS specifi c data), TAXcalculator (withholding calculation and processing), Delivery Engine (IRS reporting, FATCA relevant communication with IRS and clients).

18 PwC 2012


Company Details

2011 2010 2009

Turnover** >360m* 141m 146m

Employees 1200* 600 550

Offi ces 11 8 5

Countries 20 17 15

Customers 75 65 50

* incl. B-Source

** in CHF

Avaloq – Avaloq Banking System



Banking / Asset Management

Headquarters: Zurich, Switzerland

www.avaloq.com

Special Features • Includes QI reporting (1042, 1099)• ISO (tbc)• FATCA is fully integrated into the Avaloq

Banking System

Architecture • Programming language: .NET, PL/SQL• Platform: Solaris, AIX, HP-UX Itanium• Database: Oracle

Schedule for FATCA • Demo prototype: Q1 2013• Preliminary release: Q1 2013• Major FATCA release: Q1 2013

Fees • Licence fees: based on number of users

and/or transactions • Implementation fees: based on several

pricing models (fi x price, t&m, bonus/malus)

• Maintenance fees: set as a percentage of the licence fees

Identifi cation Avaloq supports its clients in estab-

lishing the identifi cation concepts required within their software frame-work

Reporting Avaloq currently assumes that the

reporting requirements of FATCA can be implemented based on existing functionality

Withholding Avaloq currently assumes that the

withholding requirements of FATCA can be implemented based on exist-ing functionality

Company Profi le The Avaloq Group, headquartered in Zurich, has been providing standard banking software for more than 20 years. Its “ready for banking” solutions cover a broad range of fully integrated front, middle and back offi ce functionalities. Furthermore, Avaloq offers full CRM, portfolio management and MIS function-ality

Avaloq – Avaloq Banking System

FATCA Functionality FATCA will be available as an integrated solution within the existing Avaloq Banking System. Avaloq will provide its customers with a reference parameterisation in the Avaloq Model Bank (best-practice setup)



Company Details

2011 2010 2009

Turnover N/A N/A N/A

Employees 25 25 25

Offi ces 1 1 1

Countries 1 1 1

Customers 7 6 6

Bavaria Banken Software – IBP

Standalone/ Integrated


Banking

Headquarters: Munich, Germany

www.bavariabanken.com

Special Features • Includes QI reporting• Individual test quality management and

reporting

Architecture • Programming language: Java, Cobol• Platform: Solaris, AIX, Linux, Windows• Database: Oracle • Mainframe: SUN, Fujitsu, Siemens, IBM

Schedule for FATCA • Demo prototype: Q1 2012 • Preliminary release: Q3 2012 • Major FATCA release: Q4 2012 / Q1

2013

Fees • Licence fees: dependent on the number

of implemented modules and/or users• Implementation fees: calculated on the

basis of an individual daily rate (€ 1.040)• Maintenance fees: set as a percentage of

licence fees (18 %)

Identifi cation Masterdata administration in IBP

includes the defi nition of FATCA specifi c information for customers and securities

Reporting Report generation in XML format

Withholding Tax calculation is part of all modules

which include income for customers; these modules are interconnected

Company Profi le Bavaria Banken is specialised in providing software solutions for fi nancial institu-tions, such as banks, wealth managers, stockbrokers, institutional fund managers and investment banks. Its core product, IBP (International Banking Package), has a modular architecture and can be used as an integrated total banking solution or as a standalone solution

Bavaria Banken Software – IBP

FATCA Functionality IBP is a modular structured Core Banking Solution with a focus on high level banking business. This includes the modules Money Market, Forex, Portfolio Management and Current Accounts

20 PwC 2012


Company Details

2010 2009 2008

Turnover € 72.5m € 68.2m € 67.8m

Employees 590 480 480

Offi ces 12 12 13

Countries 18 16 16

Customers 50- 40+ 40+

Callatay & Wouters – Thaler



Banking

Headquarters: Brussels, Belgium

www.cw-thaler.com

Special Features • N/A

Architecture • Programming language: Upper tier

Java, Business tier Cobol• Platform: Linux, IBM AIX, Hp-UX, SUN

Solaris, Windows• Database: IBM mainframe DB2 and

Unix Oracle and DB2

Schedule for FATCA • Demo prototype: N/A• Preliminary release: N/A • Major FATCA release: N/A

Fees • Licence fees: No additional fees, stan-

dard product functionality• Implementation fees: N/A• Maintenance fees: N/A

Identifi cation Possibilities for client data specifi ca-

tion and operational segmentation, various checks on compliance issues for US clients and US securities

Reporting Data pool with all transaction data

generates IRS and other reports in XML

Withholding Automatic tailored tax processing

according to the context included in the core bank software

Company Profi le Callatay & Wouters is a leading provider of IT solutions to retail, private and direct banks. Its premium product, Thaler, is a core banking solution and has been im-plemented in numerous fi nancial institu-tions

Callatay & Wouters – Thaler

FATCA Functionality Callatay & Wouters will integrate FATCA functionalities within Thaler, its existing core banking system



Company Details

2011(Q1-Q3) 2010 2009

Turnover € 124.3m € 135m € 109m

Employees 2000+ 1500+ 1200+

Offi ces 14 11 8

Countries 5 4 3

Customers 700+ 500+ 300+

Center of Financial Technologies (CFT)



Banking / Insurance/ Asset Management

Headquarters: Moscow, Russia

www.cft.ru


Architecture • Programming language: Java, PL/SQL, • Platform: SPARC Solaris, Linux, IBM

AIX, HP HP-UX• Database: Oracle• Mainframe: Oracle SPARC, x86, IBM

Power, HP Itanium

Schedule for FATCA • Demo prototype: available within 3-4

months after start of development • Preliminary release: available within 5

months after project launch • Major FATCA release: 7 months after

project launch

Fees • Licence fees: number of users, licence

price and specifi c customer require-ments

• Implementation fees: depend on the individual hourly rates and length of implementation

• Maintenance fees: 2.5 % of licence price

Identifi cation CFT identifi es clients according to

historical data input; the database used for identifi cation includes information on individuals that have accounts in the organisation

Reporting Customised reports are possible; all

the reports correspond to interna-tional best practice

Withholding In CFT systems, withholding is done

from all customer account contracts based on both contract terms and conditions (between bank and client) and existing tax regulations

Company Profi le CFT provides software solutions for the fi nancial services sector and other indus-tries in Russia and CIS countries. It has positioned itself among the Top 3 software vendors in the Russian market

Center of Financial Technologies

FATCA Functionality FATCA will be implemented into its existing products entitled CFT Bank, CFT Asset Management, and CFT Insurance

22 PwC 2012


Company Details

2011 2010 2009

*Turnover € 139.5m € 116.2m € 68.4m**

Employees 1,150 970 956

Offi ces 22 17 17

Countries 12 8 7

Customers 133 N/A N/A

**FJA Jan-Dec 2009 & COR Nov-Dec 2009

COR&FJA



Banking / Insurance

HQ: Leinfelden-Echterdingen, Germany

www.cor.fja.com

Special Features • No need for modifi cation of customer’s

static data base• Easy integration into existing workfl ow

systems• Covers the whole FATCA process chain

form Front to Back Offi ce at reduced integration costs

Architecture • Programming language: JAVA• Platform: platform independent • Database: relational data bases (DB2,

Oracle, etc.)• Mainframe: N/A

Schedule for FATCA • Demo prototype: FATCA compliance

available • Preliminary release: N/A• Major FATCA release:

Roll-out component I: Q2/Q3 2012 Roll-out component II: Q2/Q3 2013 Roll-out component III: Q1 2014

Fees • Licence fee: N/A• Implementation fees: N/A• Maintenance fees: N/A

Classifi cation Rule-based FATCA Compliance Tester

that sets and checks the FATCA compliance status in an automated manner

Withholding Modules provide calculation of

FATCA deductions taking into ac-count grandfathering, PPP, and product specifi cities

Reporting Reports are generated in IRS format,

customer reports are optional

Company Profi le The COR&FJA group is a provider of software solutions and consulting services for the fi nancial services industry, with a special focus on insurance, banking and pension schemes. COR&FJA has a strong presence in Germany and also operates on the global market

COR&FJA

FATCA Functionality COR&FJA offers to their customers a FATCA solution consist-ing of three independent components which cover the whole process chain: Component I comprises the identifi cation and classifi cation of FFI customers. Component II provides func-tionality for transaction processing, especially calculation and deduction of FATCA withholding tax. All functionality needed for FATCA reporting is made available by Compo-nent III



Company Details

2011 2010 2009

Turnover $ 13.5bn $ 9.9bn $ 11.27bn

Employees 96,000 93,000 91,000

Offi ces 500+ 500+ 500+

Countries 67 64 55

Customers 2,500 2,500 2,500

iBS-FAIR + CSC-GATE



Banking / Insurance

Headquarters: Falls Church-Virginia, USA

www.csc.com

Company Profi le CSC has more than 50 years of experience in developing smart technology based solutions. Its range of expertise includes Core Banking, Card & Merchant, Loan Default Management, Payments & e-Delivery as well as custom solutions for Financial Services. CSC is currently involved in modernising the established business systems of the IRS

Special Features • Quality assurance: ISO 14001, ISO

20000, ISO 9001, CMMI Level 3• Software development: ISO 2000,

CMMI Level 5 (India)• Project management: CAPM, PMP,

PgMP, Catalyst, CMMI Level 3

Architecture Solution One:• Platform: Netweaver for ABAPSolution Two:• Platform: Java BasedBoth solutions:• Database: Oracle, DB2• Operating platform: Windows, Linux, AIX

Schedule for FATCA • Demo prototype: January 2012• Preliminary release: Release in 3 mod-

ules. 1st module for identifi cation/cat-egorisation will be available March 2012

• Major FATCA release: Module 2 + 3 will be released in time for due date compliance

Fees • Licence fees: based on number of accounts

and customers or number of users• Implementation fees: based on the

number of services, complexity and contract volume required by the client, FP-contract possible

• Maintenance fees: dependent on type of solution chosen

Identifi cation Rule based decision engine, which

allows for automatic and manual processing, integration with relevant legacy systems is possible, case management ability

Reporting Direct IRS Reporting with the option

of manual interventions; Reporting to other local authorities; customer reporting

Withholding Service based module directly inte-

grated into all FATCA relevant pro-cesses; analysis of compliance status, transaction type (e.g. passthru), transaction monitoring and, if appli-cable, calculation and deduction of withholding

CSC – iBS-FAIR

FATCA Functionality CSC has gained knowledge on the IRS and its systems through their prime contract with the IRS. CSC will leverage this experience in providing service support offerings for FATCA compliance. CSC offers one product based on SAP Netweaver (iBS-FAIR), which is developed by its German majority owned subsidiary iBS, and a second product for non-SAP users

24 PwC 2012


Company Details

2011 2010 2009

Turnover N/A £ 212.6 m £ 190.5 m

Employees 1,800 1,474 1,338

Offi ces 13 7 4

Countries 100+ 13 9

Customers 150 67 38

Detica – Detica NetReveal®



Banking/ Insurance / Asset Management

Headquarters: Guildford, United Kingdom

www.baesystemsdetica.com

Company Profi le Detica is a wholly owned subsidiary of BAE systems. It develops, integrates and manages software solutions for its clients. Detica NetReveal®’s - Enterprise Risk, Fraud and Compliance platform is a single platform which covers the fi nancial risk and compliance needs for the fi nancial services industry

Special Features • SCV of client position• Consolidation of customer across

entities• IRS report template support• Real-time & batch withholding• FATCA MIS Dashboard

Architecture • Programming language: Java• Platform: Solaris, AIX, Windows• Database: Oracle, DB2• Mainframe: zOS & Linux

Schedule for FATCA • Demo prototype: Q4 -2011• Preliminary release: Q1- 2012• Major FATCA release: Q2-2012

Fees • Licence fees: perpetual, based on the

size of the fi nancial institution• Implementation fees: based on indi-

vidual daily rates• Maintenance fees: fi xed percentage of

licence fees

Identifi cation Structured and unstructured infor-

mation searching for US indicia Single customer view and automated

social network analysis, CDD/KYC

Reporting Automated customer asset aggregation Periodic and annual disclosure to the

IRS Extended affi liate group reporting

Withholding Capability to apply withholding in

real time & batch modus, for both inbound and outbound transactions, across major transaction networks

Detica – Detica NetReveal®

FATCA Functionality Detica NetReveal® covers certain FATCA functionalities. Its Customer Due Diligence (CDD) /Know Your Customer (KYC) solution offers a complete approach from initial on-boarding to ongoing due diligence. By integrating a vast amount of data, breaking the information into separate entities, auto-matically linking and then creating social networks it is pos-sible to determine if a strong relationship exists with a known US entity or person.



Company Details

2011 2010 2009

Turnover € 40m N/A N/A

Employees 1,000 N/A N/A

Offi ces 5 N/A N/A

Countries N/A N/A N/A

Customers 340 N/A N/A

Diasoft – Flextera



Banking / Insurance/ Asset Management


www.diasoft.com

Special Features • ISO 9001:2000• Interfaces: Flextera offers standard

interfaces to Diasoft FA#, CFT, Flex-Cube, Misys Equation, Misys Midas

Architecture • Programming language: Java• Platform: 2 Intel 2.8 Xeon Dual (Quad),

Win/ Unix + IBM WebSphere• Database: Oracle, IBM/DB2, Sybase,

Microsoft SQL • Mainframe: N/A

Schedule for FATCA • Demo prototype: Q3-2012• Preliminary release: N/A• Major FATCA release: N/A

Fees • Licence fees: based on number of users

and number of reports• Implementation fees: individual daily

rate of $ 800• Maintenance fees: set as a percentage of

licensing fees

Identifi cation Rule based process driven decision

making engine and classifi cation tool

Reporting Supports XML or any other IRS

required format

Withholding Withholding functionality is ensured

through back offi ce modules or separately through specifi c tax ac-counting modules

Company Profi le Diasoft is a Russian company providing software solutions for corporate and retail services, fi nancial markets as well as other sectors. Its core banking system, Flextera, supports all functions of a retail or corpo-rate bank from front offi ce through to back offi ce processes. The suite is fully scalable and has the fl exibility to allow the migration and improvement of existing processes

Diasoft – Flextera

FATCA Functionality Flextera reporting software provides different types of report-ing: regulatory reporting, IFRS reporting, banking products analysis, taxation reporting and management reporting (MIS)

26 PwC 2012


Company Details

2011 2010 2009

Turnover € 95m € 95m € 80m


Offi ces 7 7 8

Countries 53 52 48

Customers 300 300 280

ERI – Olympic Banking System




Headquarters: Geneva, Switzerland

www.eri.ch

The OLYMPIC Banking System has been chosen by over 300 banks and fi nancial institutions spread over more than 50 countries across Europe, Asia, Africa and the Americas.

Special Features • OLYMPIC’s integrated front offi ce tools

(KYC, CRM, alerts and constraints, BPM…),

• Forms and templates• Channels to interact with intermediaries• Legal and compliance tools• Rich reporting functionality

Architecture • Programming language: Java Cobol, C• Platform: i5/OS, Solaris, Linux, Windows• Database: DB2, Oracle• Application Server: SOA

Schedule for FATCA • Demo prototype: Phased development

starts in Q1 2012• Preliminary release: Delivery and installa-

tion planned for September 2012• Major FATCA release: Global functionality

available as from Q4 2012

Fees • Licence fees: based on number of sites,

number of users and functional package• Implementation fees: depend on specifi c

requests• Maintenance fees: set at around 18 % of

licensing fees

Identifi cation OLYMPIC Banking System will allow

classifying the pre-existing and new customers, as well as the regular review processing requested by IRS. This functionality will be highly customizable

Reporting OLYMPIC reporting and accounting

system will provide the relevant reports according to the IRS require-ments.

Withholding The amount to be deducted for

withholding from payments will be calculated throughout the order generation and transaction process-ing in compliance with the IRS rules: Customers & counterparts statues, transaction types, products

Company Profi le ERI is an international company specialis-ing in the design, development, distribu-tion and support of its integrated, real time banking and wealth management software package: OLYMPIC Banking System .

ERI – Olympic Banking System

FATCA Functionality FATCA will be integrated within Olympic Banking System. Information needed to enable banks to conform to FATCA when the law comes into force will be processed by the OLYMPIC Banking System



Company Details

2011 2010 2009

Turnover N/A N/A N/A


Offi ces 5 5 4

Countries 2 2 1

Customers 90 60 50

Finnova




Headquarters: Lenzburg, Switzerland

www.fi nnova.ch

Special Features • All regulatory requirements like QI,

EUST, Basel II/III, FATCA, etc. are/will be available

• Storage of all additional client informa-tion requested by FATCA within CRM

• Integrated workfl ow engine to support business processes

Architecture • Programming language: PL/SQL, Java,

C++• Platform: HP - UX 11.31; IBM - AiX 6.1;

Solaris 10; Linux (X86, Z-Series)• Database: Oracle• Mainframe: HP; IBM; (UNIX compat-

ible)

Schedule for FATCA • Demo prototype: t.b.d.• Preliminary release: t.b.d.• Major FATCA release: t.b.d.Finnova will deliver the FATCA upgrades within a time schedule that fi ts the exter-nally fi xed milestones

Fees • Licence fees: calculated based on the

number of users• Implementation fees: depend on the

implementation partner• Maintenance fees: set as a percentage of

licence fees

Identifi cation The FATCA requirements will be

fully integrated into its core system

Reporting All FATCA specifi c reporting will

be available and cover the regula-tory demands

Withholding Withholding tax requirements will

be developed and implemented according to the latest regulations

Company Profi le Finnova AG Bankware is a Swiss based company producing banking software since 1974. Our product Finnova is an integrated core banking solution, based on a modular structure and targets universal and private banks. Combined with the fully integrated CRM, PMS, FinnovaControl® and E Banking we provide our customers a powerful realtime banking engine at lowest TCO.

Finnova

FATCA Functionality Like all other regulatory requirements FATCA will also be fully integrated within our core banking solution. FATCA functionality will be delivered within a regular release, ac-companied by recommendations for the parameter settings. Thanks to our well designed architecture FATCA will be easy to go live with and banks can concentrate on their busi-ness processes rather than on software implementation. No interface(s) – no data migration.

28 PwC 2012


Company Details

2011 2010 2009

Turnover € 2.4m € 4.5m € 3.1m


Offi ces 2 2 2

Countries 5 5 5

Customers 99 93 74

FORS Banking Systems





www.fors-bs.ru

Special Features • FORS is authorised to provide its ser-

vices to Oracle training centres • Project Management Standard of PMI• ISO 10006• ITSM (IT Service Management), GOST

R ISO 9001-2008 (ISO 9001:2008)

Architecture • Programming language: Java, Oracle

Forms, Oracle Developer, Oracle Re-ports, ADF

• Platform: Windows, Linux• Database: Oracle 10.2.11 • Mainframe: X86, Hh, Sun, Dell

Schedule for FATCA • Demo prototype: Q2 2011 – based on

the scenery mechanism• Preliminary release: Q1 2012 – Oracle BI• Major FATCA release: Q3 2012 – VB_

INTER FACE

Fees • Licence fees are term-based• Implementation fees: From 60 to 120 %

of the licence fees• Maintenance fees are calculated as

follows:• 50 % from the cost of the licence core• 25 % from base cost of licence for

modules• 15 % from base cost of the user licences

Identifi cation CRM functionality will be an external

module of the current core banking system

Reporting Oracle Report is designed for operative

reporting ReSy is a subsystem designed for

obligatory reporting Reports generated in XML, XLS, DOC,

etc.

Withholding Withholding is done in a kernel

system, accordingly integration with CBS isn’t required

Company Profi le Founded in 1991, the company has special-ised in providing software solutions for the banking industry. CIS and North-Eastern European Countries are its main markets. The company’s focus of development is CBS ‘Va-Bank’: development of SOA interfaces to the basic mechanisms of a kernel system, development of the retail back-offi ce and the development of front-offi ce CRM

FORS Banking Systems

FATCA Functionality CBS can switch between manual and automatic reporting



Company Details

2011 2010 2009

Turnover € 8.0m € 8.0m € 4.2m

Employees 65 65 63

Offi ces 2 2 2

Countries 2 2 2

Customers 55 53 45

iBS – iBS-FAIR



Banking / Insurance

Headquarters: Wiesbaden, Germany

www.ibs-banking.com

In addition to software solutions, the company provides customers with specialist consulting & training.

Special Features • Standard integration for SAP banking• SAP standards for software develop-

ment• Comprehensive internal reporting • Premium partnership with several

implementation partners (e.g. C1Fin-Con, CSC, SKS)

Architecture • Programming language: ABAP, Java• Platform: SAP NetWeaver• Database: Oracle, DB2, MaxDB • Mainframe: Windows, Linux, AIX

Schedule for FATCA • Preliminary release: Q2 2012• Major iBS-FAIR release: iBS-FAIR cat-

egorization – Q2 2012; withholding – Q1 2013; reporting – Q3 2013

Fees • Licence fees: depend on number of

accounts and customers or number of users

• Implementation fees: depend on project size and individual daily rate

• Maintenance fees: 22 % of licence fees

Identifi cation Rule based process engine which

allows automatic and manual pro-cessing; integration with relevant (non-)SAP Modules possible

Reporting Direct IRS Reporting with the option

of manual interventions; Reporting to other local authorities; customer reporting

Withholding Service based module directly inte-

grable into all FATCA relevant pro-cesses

Company Profi le iBS AG is a leading company in the design, development, and implementation of high-quality solutions for SAP Banking. At the heart of our portfolio, we offer solutions for regulatory requirements, managing risks, ensuring tax compliance and optimizing business processes, some as OEM for SAP AG.

iBS – iBS-FAIR

FATCA Functionality iBS-FAIR is a standalone software product with a modular design which helps you to effi ciently implement the complex FATCA requirements, from categorization to withholding and reporting. iBS-FAIR components are independently usable and will be available compatible with the IRS timelines. Thanks to its fl exible framework, iBS-FAIR is ready to support new requirements such as intergovernmental agreements.

30 PwC 2012


Company Details

2011 2010 2009

Turnover N/A $ 11.7m $ 14.5m


Offi ces 4 4 4

Countries 23 22 17

Customers 68 65 63

ICSfs – Olympic Banking Systems




Headquarters: London, United Kingdom

www.icsfs.com

Special Features • 9001:2008 • Web-based (thin client) solution • Licensing is not based on the number

of system users • Highly parameterised confi gurable

solution • BI ready; has an extended MPR, MIS

& BI systems

Architecture • Programming language: Oracle Forms,

Oracle Reports, SQL & PL/SQL• Platform: Linux/Unix • Database: Oracle RDBMS 11g or 10g• Mainframe: x86, Unix Based Server

Schedule for FATCA • Demo prototype: available in 2Q 2012• Preliminary release: Q4 2012• Major FATCA release: Q1 2013

Fees • Licence fees: based on number of

branches• Implementation fees: depend on the

individual daily rate ($ 600-900)• Maintenance fees: 18 % of licence fees

Identifi cation By Nationality & National Security

Number

Reporting ICS BANKS® is written in Oracle,

meaning users can use Oracle report-ing tools such as Oracle Report, Discov-erer or other tools such as Crystal Reports and Business Objects

Withholding N/A

Company Profi le ICS Financial Systems Ltd; ICSFS, the sister company of Information Computer Systems (London) Ltd, is a provider in the fi eld of banking automation technologies and services. Its BANKS® product supports and handles universal, retail, Islamic, private, corporate, commercial and whole-sale banking. Its system is built on Oracle technologies in a thin client browser based environment

ICSfs

FATCA Functionality ICS BANKS® is a fully integrated application system. The system handles asset management, trade fi nance, fi nance leasing, BI & data warehousing, business process manage-ment and fully integrated delivery channels



Company Details

2011 2010 2009

Turnover $ 6.04bn $ 4.80bn $ 4.66bn

Employees 130,820 113,796 104,850

Offi ces 64 63 54

Countries + 30 N/A N/A


Infosys – iCOP




Headquarters: Bangalore, India

www.infosys.com

Company Profi le Infosys Limited (NASDAQ: INFY), found-ed in 1981, became the provider of soft-ware solutions for the global technology market. Infosys has a presence in 32 different countries

Special Features • Integrated end-to-end customer

on-boarding• Supports complex business cases based

on customer type, product across geo-graphies

• QI Reporting• On-boarding offering available as

a service• Cost basis Reporting

Architecture • Programming language: Java,

Standard BPM engines• Platform: Unix, Windows• Database: Oracle, DB2• Mainframe: N/A

Schedule for FATCA • Demo prototype: Available now• BETA release: December 2011• Major FATCA release: April 2012

Fees • Licence fees: N/A• Maintenance fees: N/A• Implementation fees: N/A

Identifi cation ICOP will identify the US customer

personal details using the customer as well as the product catalog infor-mation

Reporting Reports are in HTML/ PDF formats;

also reports on non-compliance with details about product-wise tax with-holding by interfacing with transac-tion systems

Withholding Withholding will be achieved

through interfacing components between ICOP platform and con-cerned periphery transaction systems of the bank

Infosys – iCOP

FATCA Functionality ICOP - Integrated Customer On-boarding Platform. The plat-form incorporates a rule based framework, adaptation to changing regulations, fl exible business process fl ows and a centralised document management system. It conducts the checks for FATCA compliance of existing as well as new cus-tomers by processing FATCA regulatory requirements. Ser-vice oriented architecture, confi gurable data transformation toolkit for faster integration, data enrichment, detailed au-diting and notifi cation facilities, dashboard and regulatory reporting are other facilities of the platform

32 PwC 2012


Company Details

2011 2010 2009

Turnover € 8.5m € 12.7m € 11m


Offi ces 14 14 13

Countries 12 11 11

Customers 40 38 38

Intracom IT Services – PROFITS



Banking

Headquarters: Peania, Greece

www.intracom.gr

Special Features • Quality assurance: ISO 9001:2008• Software development: ISO 9001:2008• Project management: ISO 9001:2008,

PMP

Architecture • Programming language: Java, C++• Platform: independent• Database: Oracle, SQL server• Mainframe: Windows, Unix

Schedule for FATCA • Demo prototype: available in 2Q 2012• Preliminary release: to be announced in

accordance with FATCA time plan• Major FATCA release: to be announced

in accordance with FATCA time plan

Fees • Licence fees: Based upon accounts• Implementation fees: as a turnkey

solution• Maintenance fees: set at 20 % of the

licence fee

Identifi cation Based upon the “rule based” architec-

ture, it can handle exceptions and future adaptations

Reporting Internal reporting tool providing

reporting in different format

Withholding Specifi c module handles Withholding

and is fully interconnected with the ICOM FATCA Solution.

Company Profi le Intracom, founded in 1977, is a multi-national technology group in South-Eastern Europe. It has over 14 years of experience in providing software solu-tions for the banking industry. PROFITS, its core banking system, has been devel-oped to meet the requirements of univer-sal banks

Intracom IT Services – PROFITS

FATCA Functionality Its FATCA Compliant Solution, ICOM FATCA, is a “rule based” integrated solution covering IRS reporting, data vali-dation and audit activities in a fully centralised architecture. It is fully integrated within PROFITS. Its web based, built-in interface capability also enables the fast interaction with any other core banking system. The solution consists of different modules seamlessly integrated to each other



Company Details

2011 2010 2009

Turnover € 1m € 0.85m € 0.675 m

Employees 30 27 25

Offi ces 2 1 1

Countries 2 1 1

Customers 10 8 8

Natech – CSB



Banking

Headquarters: Ioannina, Greece

www.natech.gr

Company Profi le Natech provides IT solutions to busi-nesses and fi nancial institutions. The company develops and supports a wide range of products catering to fi nancial institutions and banks. Its fl agship prod-uct, CSB, is the core banking solution for 9 out of 16 co-operative banks in Greece. CSB, a new generation core banking solution with a sophisticated database, supports SQL servers and OracleDB. Natech’s main market is Greece Special Features • ISO 9001: 2008, ISO 27001: 2005• QI reporting• Intuitive data analysis and DSS• Cost basis reporting

Architecture • Programming language: C#, Ansi SQL

scripting• Platform: Windows server 2008R2 • Database: SQL server 2008R2• Mainframe: x86,x64

Schedule for FATCA • Demo prototype: available in Q2 2012• Preliminary release: Q2 2012• Major FATCA release: Q2 2012

Fees • Licence fees: calculated per site (no

licence fee per user)• Implementation fees: 25 % of acquired

licences• Maintenance fees: calculated as a per-

centage of licence fees (15 %)

Identifi cation Supports manual intervention, dyna-

mic relationship content publishing, rule based/case based reasoning DSS

Reporting Natech DRP reporting tool with iUser

interface, supports Excel, PDF, Word, XML, fl at or any additional format required by the IRS

Withholding 2-tier based architecture which is

practically transparent to the user; ability to connect through interfaces with external systems

Natech – CSB

FATCA Functionality CSB-Fin, a FATCA compliant integrated solution, is a central-ised tool for fi nancially driven data collection, reporting analy-sis, IRS reporting and fi nancially driven decision supporting. It supports data validation and custom analysis reporting. CSB-Fin has a rule based and, with feedback generation, a case based reasoning system. The solution is an integrated system, allowing both customisable and predefi ned set of reports

34 PwC 2012


Company Details

2011 2010 2009

Turnover N/A € 114m € 108m


Offi ces 11 11 10

Countries 58 58 58


PASS Consulting Group




Headquarter: Aschaffenburg, Germany

www.pass-consulting.com

Special Features • ISO 9001:2000• CMMI-DEV (Level 5)

Architecture • Programming language: Java, JEE, SOA• Platform: independent (Windows,

Linux, Unix derivates, IBM host)• Database: MySQL, PostgreSQL, Oracle,

DB2, SQL server

Schedule for FATCA • Demo prototype: available• Preliminary release: available –

identifi cation• Major FATCA release: Q1 2012

Fees • Licence fees: Based on total assets• Maintenance fees: 18-23 % of licence fee• Implementation fees: depend on indi-

vidual daily rate (€ 850 – € 1350)

Identifi cation FATCA KIK Process Engine©

Customer identifi cation and classifi -cation

Reporting FATCA KIK Reporting Engine©

IRS reporting in required format, customer reporting

Withholding FATCA KIK Withholding Engine©

Deduction and withholding

Company Profi le PASS Consulting Group is an international consulting and software company. Its core capabilities are IT consulting, software development and project management. Founded in 1981, PASS Consulting Group employs 700 people. Its main markets are fi nancial services, insurance, tourism & travel, government, logistics, telecommu-nications and IT

PASS Consulting Group

FATCA Functionality The standardised software provides versatile solutions for the FATCA requirements of customer identifi cation, with-holding and reporting. The multi-entity software can be used as standalone system or can be connected easily and fast with the FATCA relevant banking applications



Company Details

2011 2010 2009

Turnover $ 21.6 m $ 25.7m $ 28.0m


Offi ces 12 9 9

Countries 12 9 9

Customers 75 72 65

Path Solutions – iMAL




Headquarters: Kuwait City, Kuwait

www.path-solutions.com


Architecture • Programming language: Java , Power-

Builder • Platform: Oracle & Sybase • Database: Oracle, Sybase• Mainframe: HP, Sun, IBM

Schedule for FATCA • Demo prototype: Q2 2012 • Preliminary release: 3 preliminary

releases every quarter • Major FATCA release: one major release

in April

Fees • Licence fees: based on branch, site &

concurrent users• Implementation fees: from $ 1,750 to

$ 1,250; depends on the professional services member

• Maintenance fees: set at 20 % of licence fees

Identifi cation iMAL CSM, iMAL CRM Plus

Reporting iMAL Report Designer, iMAL Finan-

cial Template Reports, iMAL Business Intelligence Report

Withholding iMAL CSM, iMAL Accounting

Company Profi le Founded in 1992, Path Solutions is a provider of software solutions for the banking industry with a special focus on Islamic fi nance and investment banking. Its portfolio includes core banking, cus-tomer service management, funds man-agement, treasury and trading. Its core banking system, iMAL, is based on a modular structure and is an integrated solution covering both conventional & Islamic banking

Path Solutions – iMAL

FATCA Functionality FATCA will be integrated into its original core banking sys-tem. iMAL CSM is part of the modular core banking system that handles all retail banking activities and services for the bank’s clients. It is client-centred: once the user selects the client, the system will automatically get all the relevant infor-mation. iMAL Report Designer is an independent reporting tool. The system presents features such as scheduling, ar-chiving, automatic e-mailing and faxing of reports

36 PwC 2012


Company Details

2011* 2010 2009

Turnover € 11m € 13.2m € 16.5m


Offi ces 3 3 3

Countries 15 15 15


*2011 fi gures will be an estimate

and not actual result of the year

Profi le – IMSplus 2.0




Headquarters: Athens, Greece

www.profi lefs.com

Company Profi le Profi le is a provider of integrated software solutions for the fi nancial sector. It has two decades of experience and is listed on the Athens Stock Exchange (ASE:PROF). Profi le offers standalone as well as inte-grated solutionsFMS: Universal banking platformIMSplus 2.0: Investment management platform covers wealth management, asset management, personal banking and custody

Special Features • ISO 9001:2008• ISO 27001: 2005

Architecture • Programming language: C#, Core parts

in C++• Platform: WinTel• Database: MS SQL server 2005 or newer• Mainframe: x86

Schedule for FATCA • Demo prototype: according to company

notifi cation, elements incorporated in current releases

• Preliminary release:Q2 2012• Major FATCA release: Q3 2012

Fees • Licence fees: per module/per user• Implementation fees: Depending on

project, approx. 40 % of licence fee for standard implementation

• Maintenance fees: 20 % of licence fees

Identifi cation IMSplus 2.0 provides tools for collect-

ing client information (KYC, client documentation and agreement management)

Reporting IMSplus 2.0 Client & MIS Reporting IMSplus 2.0 Compliance

Withholding IMSplus 2.0 provides parametric

workfl ows to calculate and withhold tax according to client and market characteristics

Profi le – IMSplus 2.0

FATCA Functionality FMS and IMSplus 2.0 rely on a modular structure that al-lows gradual deployment in any organisation and can either be integrated within a bank’s IT environment or be utilised as a standalone solution. IMSplus 2.0 and its CRM-MIS tool offer comprehensive reporting solutions, ranging from mass reports production, client statements with graphic & chart-ing options, built-in report generator, ready-to-use templates designed to cover reporting needs of different users by means of a full export functionality



Company Details

2011 2010 2009

Turnover N/A € 20m € 19m


Offi ces 1 1 1

Countries 1 1 1

Customers 9 9 8

SDS – GEOS



Banking

Headquarters: Vienna, Austria

www.sds.at

Special Features • Includes QI reporting (1042, 1099)

Architecture • Programming language: Java, C++• Database: DB2, Oracle• Operating system: z/OS, LINUX,

Windows• Hardware: Mainframe, X86, Sun

Schedule for FATCA • Demo release: Q1 2011 – based on 1099

DIV• Preliminary release: Q3 2011 – QI

reporting• Major FATCA release: Q1 2012• Final enhancements Q3 2012

Fees • Licence fees: based on total assets

> € 160bn: € 290,000€ 80-160bn: € 230,000< € 80bn: € 130,000

• Implementation fees: T&M or fi xed price contract together with system integrators

• Maintenance fees amount to 9 %

Identifi cation N/A

Reporting IRS reporting data pool with user

interface for transaction data gener-ates reports in XML or any IRS re-quired format

Withholding N/A

Company Profi le SDS, founded in 1974, has established itself as a successful vendor of banking software focusing on the handling of international securities transactions. Its fl agship product, GEOS (Global Entity Online System) is a real-time STP solution for securities and derivatives transactions and features integrated front, middle and back offi ce functionality designed for private and retail banking business

SDS – GEOS

FATCA Functionality Its FATCA compliant software, FATCA Reporting Engine, is a standalone solution. As a centralised tool for IRS reporting, it covers FATCA and QI reporting (1042, 1099) and supports data validation, enrichment, reporting and audit activities. Web service-based interfaces and client processes enable fast and easy integration and process driven communication. The solution is as a multi-entity system through which reporting engines can be rule based

38 PwC 2012


Company Details

2011 2010 2009

Turnover N/A € 185.4m € 180.7m

Employees N/A 1077 1045

Offi ces N/A 20 20

Countries N/A 21 20

Customers N/A >160 >160

SimCorp – SimCorp Dimension




Headquarters: Copenhagen, Denmark

www.simcorp.com

Special Features • Calculation of the Passthrough Payment

Percentage (PPP)• Grandfathered obligations are regarded

both for PPP and withholding• Substitute dividend payments can be

handled for lending, TRS or similar transactions

Architecture • Programming language: C#, .NET

and APL• Platform: Windows server 2008; XP;

Vista, 7• Database: Oracle RDBMS 10.2.x.x• Highly confi gurable system

Schedule for FATCA • Demo prototype: end of 2011• Preliminary release: end of 2012• Major FATCA release: summer 2013

Fees • Licence fees: to be determined• Implementation fees: time & material• Maintenance fees: to be determined

Identifi cation Customer’s and partner’s data in

SimCorp Dimension can be searched online for US indicia and classifi ed with free codes

Reporting Based on data in SimCorp Dimension,

all kinds of reporting to the IRS are supported

Withholding Both the 30 % FATCA withholding

regarding the passthru payment percentage and the double tax treaty are supported

Company Profi le Founded in 1971, SimCorp provides software solutions for the investment management industry. Its core product, SimCorp Dimension, is a standard soft-ware solution for the fi nancial industry. SimCorp Dimension is completely modu-lar by business function and instrument type, yet all its many components use the same core database and transaction processes

SimCorp – SimCorp Dimension

FATCA Functionality FATCA will be implemented into the current system with a focus on the client module as well as the static data and the transaction/tax module. Reporting tools within SimCorp Dimension transform data into information – for clients, regulators, management and operational control purposes



F Appendix. The Data Table

Chapter F Appendix



Vendor Solution Markets Scope Location

HQ

3i-Infotech WHTPro Banking /

Asset Management / Insurance

Global Mumbai - India

32 Bit Bilgisayar Kondor+Midas

Integrator Banking Istanbul - Turkey

ABBA NovoDoba Banking Central Osijek - Croatia

Abit Bankcore Banking Central Varazdin - Croatia

Accenture Alnova Financial

Solutions Global

Acute Softwares Easy BankCore Banking East Ahmedabad India

Allshare Banking Solutions

Allshare Banking Solutions

Banking Global Hoofddorp - Netherlands

Alnova Financial Solutions / subsidy of Accenture

Alnova Financial Solutions


Global Madrid - Spain

Aquantec Ocean Asset Management München - Germany

ASI - ARANGO Software International

ABANKS Banking

Asseco Aseba Banking Central Rzeszow - Poland

Atos Atos FATCA SuiteBanking /


Global Essen - Germany

Automated Systems Inc (ASI)

Insite Banking System Banking West Lincoln - USA

AutoSoft Dynamics (ASD) AutoBANKER (Islamic

Banking Solution) Banking East Lahore - Pakistan

Avaloq Avaloq Banking

System Banking / Asset Management

Global Zurich - Switzerland

BankVision Software Banking / Asset Management

West Tampa - USA

Bavaria Banken IBP Banking Central Munich - Germany

BMC Software BMC Asset

Management Asset Management Global Houston - USA

BML Istisharat ICBS (Integrated Computerized

Banking System) Banking / Insurance Global Beirut - Lebanon

Broadridge Global

BS Bankensysteme AG B+S Gesamt-

bankanwendung Banking Central Munich - Germany

Callatay & Wouters Thaler Banking Global Brussels - Belgium

Calypso Calypso Banking /


Global San Francisco - USA

Canopus Software Laboratory

macrobank4 Banking Global Moscow - Russia

CFT CFT Banking /


East Moscow - Russia

CGI RFS Banking /


Global Montreal - Canada

Citrix Systems Global Fort Lauderdale - USA

CMC Limited part of TATA group

TC/4 Total Concept Banking / Insurance Global New Delhi - India

The Data table IT Vendors

Highlighted in grey = Identifi ed FATCA IT Vendor,

please see more details in chapter E

41 PwC 2012


Nr of Offi ces

Found-ed Name Position Email Phone

13 1999 3i-infotech.com Mark Deakin Vice President - Western Europe

[email protected], [email protected]

Tel +44 (0)121 260 3350 Mobile +44 (0)7990 783 651

2 1988 32bit.com.tr Ozan Vakar [email protected]

3 2001 abba.hr Eduard Rupcic Head of Sales [email protected] +385 (0)31 21 50 60 Tel +385 99 3120580

1 1993 abit.hrLjubomir Dabi� Ronald Štefi �.

Director [email protected], [email protected] Tel +385 42-242-040

accenture.comaccenture.direct.ela@

accenture.comTel +43 1 20502-33987

1

acutesoftwares.inGeneral [email protected] Tel +91 - 79 - 66054341

allshare.nl Roeland Elias Commercial

Director [email protected]

[email protected] +31 88 858 8468

Mobile +31 621 588 468

alnovatech.com General [email protected] Tel +34 91 596 90 76

1 Dr. Georg Meyer CEO [email protected] Tel +49 89 4377 7798 0

4 grupo-asi.com General Sales [email protected] +507 317-0870

13 1991 asseco-see.com Zoran Šušnjar Director Serbia

[email protected]

Tel +381 11 2068 900 Ext. 5203Mobile +381 63 379 193

atos.net Jürgen ThurowSenior Sales

Managerjuergen.thurow

@atos.netTel +49 (0) 201 4305 8342

Mobil +49 (0) 177 915 17 90

2 1981 insitebanking.comMr. Gary Knutson

Sales Assistant

[email protected] +1(402) 420-6000

3 autosoftdynamics.com General Sales sales@

autosoftdynamics.comTel +92-42-589-8282-6

11 1985 avaloq.com [email protected] Tel +41 58 316 23 51

5 1977 bankvision.com General contactenos@

bankvision.com.co

+1 813 2613880

1 1986 bavariabanken.com Hr. Poethen [email protected] + 49 (0) 8170 - 7299

Mobile +49 (0) 1172 832 7108

1980 bmc.com Corina Häusler Products, Solutions

and Services austria_offi [email protected],

[email protected] +43 / 1240800

1 1972 istisharat.com Mrs. Pascale Salmeh [email protected] Tel +961 1 983208

4 1982 bs-ag.com offi [email protected] Tel +43 662 43 05 91 -0

13 1983 cw-thaler.com Tammo van Leeuwen Market

Developement Manager

[email protected], tammo.vanleeuwen

@cw-thaler.com

Tel +32 2 777 44 00 (Marie-Agnès Marichal)

Mobile: +31 6 518 52 339

14 1997 [email protected]

Tel +49 699 203 890

1992 macrobank4.com General [email protected] Tel +7 (495) 956–34–68

7 1991 cft.ru Aleksey Konovalenko Head of

Customer Relations

[email protected] Tel + 7 (495) 626-55-87 Ext. 2158

Mobile: +7 (916) 434-39-05

125 1976 cgi.com Annette Stone Director -

Consulting [email protected],

[email protected] +1 514-841-3200 Mobile 970.513.6610

1989 citrix.de General General [email protected] Tel +44 (0) 1753 482 000

150+ 1975 cmcltd.com General [email protected],

[email protected] Tel +44 / 2078698000




HQ

Cobiscorp / formerly Macosa SA and MicroBanx Systems

COBIS UBS Banking West Santa Lucia Alta -

Equador

Compuware Global Detroite - USA

COR&FJA COR&FJA

Banking Suite Banking / Insurance Global

Leinfelden Echterdingen -

Germany

Craft Silicon Craft Silicon -

Bankers Realm (BR) Banking Global

Falls Church - Virginia USA

CSC iBS - Fair Banking / Insurance Global Falls Church - USA

Data Action Phoenix

Datapro Inc e-IBS CORE Banking West Miami - USA

DataVision Software Data Mate Banking East Pune - India

De Larrobla & Asociados (DL&A)

Bantotal Core Banking West Montevideo - Uruguay

Delta informatique group Delta Bank Banking /


Global Tours - France

Detica Detica NetReveal Banking /


Global Guildford - United

Kingdom

Diasoft Flextera Banking /


Global Moscow - Russia

Dimensions Financials Core Banking Dimensions

Banking East Trivandrum - India

DWP Bank WP2 Banking Central Frankfurt am Main -

Germany

EFDIS Banken Software EFDIS.CIFRA Banking Central Freising - Germany

EMC Banking Global

ERI Olympic Banking

System Banking / Asset Management

Global Geneve - Switzerland

FERN Software Abacus Banking / Asset Management

Global Belfast - Ireland

Fiducia Agree Banking Central Karlsruhe -Germany

Financial Objects aquired by Tmenos

ibis s2 Banking / Asset Management

Global London - United

Kingdom

Finanz IT Gesamtbanklösung

OSPlus Banking Central

Frankfurt am Main - Germany

Finlogix - formerly Dynast Financial Solutions

SIBAC Banking Suite Banking Global London - United

Kingdom

Finnova Finnova Banking / Asset Management

Global Lenzburg - Switzerland

Fircosoft Watch list Filtering, STP

Solutions

Banking / Asset Management /

Insurance Global Paris - France

First Data Global Sandy Springs USA

FIS (Fidelity National Information Services

Kordoba Core 24 Banking Global

FISA group FISA-System Banking West Quito - Equador

Fiserv CBS Banking

The Data table IT Vendors continued



43 PwC 2012


Nr of Offi ces


6 1953 cobiscorp.com/enLarissa Murillo


Tel +1 (703)757.1760 /

1973 compuware.de Michael Fassbender Sales Assistant michael.fassbender@

compuware.comTel 49 6102 83 39 0

22 1980 cor.fja.comDr. Klaus

Hermetschläger Managing Director

[email protected]

Tel +43 1 / 5 80 70-120 Mobile: +43 664 395 34 61

6 1998 craftsilicon.com [email protected]

100+ 1959 csc.comClaudia

Haberland

Banking Solutions CSC

EMEA [email protected]

Tel +49.761.4787.351 Mobile +49 (0)172.140.3704

www3.dataaction.com.au

[email protected] Tel +88 201 1099

1 1976 datapromiami.comAlfredo

Fernandez Vice President

-Marketing [email protected]

Tel +1305 374-0606 Mobile + 1305-778-5245

6 datavsn.com [email protected] Tel +91 20 25690661/2/3/4

2 bantotal.com General [email protected] Tel +598 2518 2777

9 1982 delta-informatique.com George Ayoub marketing@delta-informatique.

com, [email protected]

Tel +33 (0) 2 47 87 11 00

28 1970 detica.com/ Akram

El-Rikabi

Country Manager Austria, Germany,

Switzerland

[email protected]

Tel +49 (0)69 274015 830 Mobile +49 (0) 171 3345272

2 1991 diasoft.ru/eng/live/page/

qsp/id/15224/Mikhail

Kryuchkov

Director International

Markets [email protected]

Tel+7 (495) 780-7575 Mobile + 79031194266

dimensionsfi nancials.com

Anil Kumar COO contactus@dimensionsgroup.

com, [email protected]

Tel +91 471 2527333Tel +91 471 2527676

Mobile +9946356641 (Anil)

1 2003 dwpbank.deStefan Quandt & Hr.

Essl (Fatca) [email protected] Tel +49 69 5099 2554

1 1997 efdis.de Konrad Filser Board of Director Product Design &

Development konrad.fi [email protected] Tel +49 (0) 81 61 / 53 73 - 420

emc.com Natasa Zecevic Reception austria_offi [email protected],

[email protected] +43 1 599 52 530

7 olympic.chFrancoise

Metral [email protected] Tel +41223092618

6 1979 fernsoftware.com/ Julian McCabe Business

Development Manager Asia Pacifi c

[email protected], alan.

[email protected] Tel +61 7 3216 0829

2 1924 fi ducia.de Judith Probst Product-

Communication judith.probst@fi ducia.de Tel +49 721 4004-2523

fi nobj.com General fi [email protected] Tel +44 (0) 20 7836 3010

9 fusions f-i.de [email protected]

fi nlogix.comPatrick Hayward-

London, Giovanni Dal Maso - Houston

CEO - London info@fi nlogix.com,

phayward@fi nlogix.com, gdalmaso@fi nlogix.com

+39 045 821 1111 ext. 1910

5 2003 fi nnova.ch Martin Schäfer Sales Consultant info@fi nnova.ch, martin.schaefer@

fi nnova.chTel: +41 (0)62 886 48 29

Mobile +41 (0)76 398 77 15

4 1990 fi rcosoft.com Steve Hamel Sales Manager shamel@fi rcosoft.com Mobile +33 6 29 82 49 56

fi rstdata.COM Mr. Gert Vido gert.vido@fi rstdata.at Tel +43 1 260820

100+ 1968 fi sglobal.com General General emea.marketing@fi sglobal.com Tel +44 1923 710123

1995 fi sagrp.com General marketing@fi sagrp.com Tel +593 222 373 93

fi serv.comAleksandra

Gren Director - Poland aleksandra.gren@fi serv.com, Tel +0048607624622




HQ

Flora Systems

FORBIS FORPOST Banking Global Vilnius - Lithuania

FORS Va-Bank Banking / Asset Management

East Moscow - Russia

GAD bank 21 Banking Central Münster - Germany

GrapeCity Mongolia GrapeBank Banking East Ulaanbaatar - Mongolia

Harald Financial Solutions Phoenix System

International Banking Global

Lake Mary, Florida - USA

HCL Infosystems BancMate Banking East New Delhi - India

HP banqpro

(kernbankensoftware) Global Palo Alto - USA

I - Flex - Oracle Flexcube Banking Global

IBM Global Armonk - USA

IBS iBS - Fair Banking / Insurance Global Wiesbaden - Germany

ICSfs ICS BANKS Banking / Asset Management

Global London - United

Kingdom

IDSPL (Info Dynamic) Dynamic Banksoft, Banking East Pune - India

Infosys iCOP Banking /


Global Bengaluru - India

Infrasoft Technologies (InfrasoftTech)

OMNIEnterprise Banking Global Mumbai - India

International Financial Systems

BankWare.NET Banking Global Essex - United

Kingdom

Intertech inter-Next Banking Central Istanbul - Turkey

INTRACOM Profi ts Banking Global Peania - Greece

ISYS Banking Software BEST Banking Banking Central Geneva - Switzerland

ITS - International Turkey Systems

ITS-Core Banking Global Kuwait City - Kuwait

KalSoft Vortex Banking Global Dubai - Emirates

Kaz Software

KBS Solutions KBS Banking Banking

Koger Asset Management Global Paramus - New Jersey

USA

Kordoba Gmbh KORDOBA Core24 Banking Central Munich - Germany

Legando AG Legando Banking Central Schwerzenbach -

Germany

Mambu Mambu Stuttgart - Germany

Microlink MiBS (Islamic &

Conventional Core Banking)

Banking Global Kuala Lumpur -

Malaysia




45 PwC 2012


Nr of Offi ces


fl orasystems.com General duke@fl oratelbd.com Tel 880-2-9897047

3 1990 forbis.co.ukSarunas Maciulis

Commercial Director [email protected] Tel +370 (5) 234 93 04

Tel +370 (5) 210 28 26

1991 fors-bs.ru Elena Kozlov Head of Commercial

Departement [email protected]

[email protected] +7 (495) 788-03-25

Mobile +7 (910) 417-74-75

[email protected],

[email protected] Tel +49 ( 0) 2 51 7133 - 01

1 2000 grapecity.mnMunkhsambuu

Badrakh

International Sales, Marketing and New Business Manager


Tel +976 (11) 328720, 328760

16 2000

harlandfi nancialsolutions.com

Tel +1 (407) 804-6409

1976

hclinfosystems.inGeneral [email protected] Tel +91 (120) 2526518/19

1939 hp.comBernhard,

Schäbinger, Dr.

Business Consultant - FSI Banking

Services


Tel +43 1 81118-0Mobile +43 664 8379702

oracle.comOracle Applications and Industries UK

(Samuel Hall) [email protected]

Tel +49 89 1 430-0 Tel +44.118.924.6332

1911 ibm.com Erich Nessen Associate Partner,

IBM Global Business Services

[email protected]

Tel +49-(0)171-330 68 54

2 1982 ibs-banking.comRalf

Scheuermann Sales

[email protected]

Tel +49.611.3410-153

2 1978 icslondon.com Jamal A.

Dweik Senior Territory

Manager [email protected] Tel +962 (6) 534 4088 Ext. 391

4 1999 idsspl.com Development Center [email protected] Tel +91 (020) 24428475 / 76 / 77

65 1981 infosys.com Rajesh Sadasivan [email protected] +49 (0)69 269 566 000Tel 813 929 0959 (Kumar)

Mobile 813 784 6074

5 1995 infrasofttech.com Atul Pande Head of Products [email protected],


Tel +44 20 7332 4780

5 1979 banking-software.com Matthew Day Sales Director info@i-fi nancial.org

matthew.day@i-fi nancial.orgTel 44 208 477 1400

1 1987 [email protected], Nilay.

[email protected] +90 212 355 11 00

1977 intrasoft.gr Banking Solutions andreas.diamanteas@intracom-it.

comTel +30-210-66 79 141

3 1977 isys.ch [email protected] Tel +41 58 307 05 00

1 1981 its.ws [email protected] Tel +965 240-9100

5 1999 ekalsoft.com [email protected]

1 2004 kaz.com.bd Wahid Choudury [email protected]

kbs.ie [email protected] Tel +353 1 673 000 7

2 1994 kogerusa.com [email protected]

5 1982 kordoba.deKlaus

Kudjakov Product & Solutions [email protected]

Tel.: +49 89 66065-431Mobil: +49 170 7631 755

1 2004 legando.ch Dieter Kuich [email protected] Tel +41 44 878 31 31

2009 mambu.com [email protected]

10 1994 microlink.com.my Sales [email protected] Tel +60 (3) 2145 3380




HQ

Milenium Information Solutions

Ababil Banking East Dhaka - Bangladesh

Misys Midas Plus Banking Global London - United

Kingdom

Murex MX.3 Asset Management Global

Natech CSB Banking Central Ioannia - Greece

NCR Global Duluth - USA

Neptune Software Rubikon Banking Global Croydon, United

Kingdom

NTBS NTBS Banking / Insurance Auckland - New

Zealand

Nucleus FinnOne Banking Global New Delhi - India

Open Solutions Canda formerly Fincentric

CUnify™ , Cunify, DNA™

Banking Global

OpenLink ENDUR / FINDUR Banking Global Burlington - USA

PASS Consulting Group N/A Banking /


Global Aschaffenburg -

Germany

Path solutions iMAL Banking Global Kuwait City - Kuwait

PCS (Precision Computer Systems /Fiserv)

Pegasystems Business Process

Management (BPM) Banking / Insurance Global

Cambridge Massachusetts -USA

PIBAS PIBAS Core (Islamic & Conventional Banking)

Banking Global Sharjah - Emirates

Polaris Intellect GUB M180 Banking /


Global Chennai - India

Probanx Information Systems

CorePlus universal banking, CoreMFS

microfi nance, eBanking Banking Global Nicosia - Cyprus

Professional Computer Systems

BankPlus | PCS Bank Plus CBS product

Banking East Lalitpur - Nepal

Profi le IMSplus 2.0 Banking /


Central Athens - Greece

Quest Software Global Aliso Viejo , Californai

- USA

R- Style Softlab RS-Bank integrated core banking, RS-Retail retail banking services, InterBank internet/mobile banking

S&T

SAB SAB AT, SAMIC Banking Central France

Sage Prospero Asset Management Global Geneva - Switzerland

SAP AG SAP Transactional

Banking

SAS SAS for Banking Banking /


Global

Sidat Hyder BankEssential Banking /


Global Karachi - Pakistan

Siemens Global Berlin - Germany




47 PwC 2012


Nr of Offi ces


1 1996 mislbd.comMahmud Hossain

CEO & Co-Founder [email protected] , mahmud@

mislbd.comTel 880-2-9514570, 880-2-9514571

1979 misys.com Alan M. Riegler [email protected], [email protected], Alan.

[email protected] +1 (646) 495-8882

10 murex.comZenja Randjelovic, Samer Boustany

Business Development


1 1983 natech.grAthanasios

Navrozoglou Head of Business

Development [email protected], a.navrozoglou@

natech.grTel +302651077300,

Mobile +306944906605

1884 ncr.comMr. Hubert

Schauerhofer [email protected] Tel +43 1 89111 8603

6 1999 neptunesoftwareplc.

comDennis Belford Director

[email protected]; dennisbelford@

neptunesoftwaregroup.comTel +44 (0) 20 8680 0239

1 1992 ntbs.com Tel +64 9 415 0155

15 nucleussoftware.com Paul John NovakovicDhruv.Arora@nucleussoftware.

comTel +0207 712 6528

Mobile +44 (0)7841 160100

opensolutions.comSam Madison-

Jammal Managing Director,

International Division sam.madisonjammal@

opensolutions.com Tel +44 (0) 7842 741515

50 1992 openlinksw.comCathleen Jänicke

Sales Manager [email protected] +49 30 2233 1182

Mobile +49 1520 1598 694

11 1981 pass-banking.com Jürgen Gerhard Ripp Projects for Big

Banks juergen.ripp@pass-consulting.

comTel +49 (0) 1 709 27 6242

12 1992 path-solutions.com Mireille Khalil Branch

Manager [email protected],

[email protected] +44 20 7190 2862

pcsbanking.com Pushkar Wagley COO [email protected] (605) 362-1260

1983 pega.comAdi Bachar-

Reske Marketing Director- Financial Services


Mobile: +1 617 335 2837

2 1996 pibas.com [email protected] Tel +92-21-438-1047

2 1993 polarisft.com [email protected]

1988 probanx.com Georg F. Roider Managing Director [email protected], roider@

probanx.com Tel +357 2245 2238

1988 pcs.com.np [email protected] Tel +977 1 5548082

1990 profi lesystems.euKate

Tsoura Marketing Manager info@profi lesystems.eu Tel +302109301200

60+ 1987 questsoftware.de General General [email protected]

neu: monika.fi [email protected] +49 (0) 221 57774-0

[email protected], tkachenko@

softlab.ruTel +7 (095) 796 9321

snt.atMr. Heinrich

Leitner Key Account

Manager [email protected]

Tel +43 1 80191 1226Mobile +43 (664) 601911226

6 1989 sab-tm.comMarie-Christine

Serrot [email protected], mariechristine-

[email protected]+33 1 43945698

3 sage.ch General General [email protected] Tel +41 (0)21 653 64 01

sap.com [email protected] Tel 0800 / 293 400

1976 sas.com General General [email protected], [email protected], chris.mcAuley@sas.

com

Tel +49 (0) 6221 415 - 0Tel +49 (0) 6221 415 - 123

4 1986 [email protected],

[email protected] Tel +92 21 569 3521 - 30

1847 siemens.deMr. Friedrich

Schreder [email protected] Tel +43 51707 23686




HQ

Silverlake Axis SIBS Banking Global Kuala Lumpur -

Malaysia

SimCorp SimCorp Dimension Banking /


Global Copenhagen - Denmark

SlaterLabs (Slater Labs) Etude Banking Global Carson City - USA

SoftClub SC-BANK NT core

system Banking East Minsk - Belarus

Software Ag Business Process

Management (BPM) Banking / Insurance Global Darmstadt - Germany

Software Daten Service Gmbh

GEOS Banking Central Vienna - Austria

Sophis Risque Misys iSophis Banking /


Global Dublin - Ireland

Sparda Datenverarbeitung MBS Banking Central Nürnberg - Germany

Sungard Ambid Apsys Ambit Banking /


Global Wayne - USA

Sword APAK BEAM Core formerly

known as Aurius Banking / Asset Management

Global

Sybase Sybase mBanking 365 Banking / Insurance Global Dublin - California USA

Targit Upgrade Kondor 2.6

on 3.0 Banking / Asset Management

Central Wien - Austria

TCS - TATA Consultancy Services Financial Solutions formerly FNS

TCS BaNCS Banking /


Global Mumbai - India

Technisys CYBERBANK Core

suite Banking Global Miami - USA

Temenos Temenos Core Banking

(TCB) Banking / Asset Management

Global Geneva - Switzerland

Terradata Banking / Insurance Global

Theme Technologies ThemePro Core

Banking Framework Banking Chennai - India

Thomson Reuters Kondor+, K+TP,

TopOffi ce Banking New York - USA

TietoEnator Core Banking Suite Banking Global Espoo - Finland

Top Systems TOPAZ Banking, TOPAZ

Microfi nance, TOPAZ Trace

Banking Global Montevideo - Uruguay

TOSAN Banco (Islamic fi nance) Banking East Tehran - Iran

Trust Systemns TrustBank, MicroFinS Banking / Asset Management

East

Unisys Urbis; Urbis/Unix; Bond

Master; Securities Manager NT

Global Blue Bell, Pennsylvania

USA

Vanda Group VisionBanking Suite, VisionBanking Core

Banking / Insurance East Hong Kong - Hong

Kong

Vantage Business Systems (VBS)

Capital- Retail, Shariah, Microfi nance

banking core Banking East Chermside - Australia

Viveo Group V.bank global banking Banking

Vsoft CoreSoft core banking

(USA), SuVikas core banking (India)

Banking West Duluth - USA

Wall Street Systems Wall Street Systems Banking / Asset Management

Global New York - USA




49 PwC 2012


Nr of Offi ces


4 1989 silverlakeaxis.comcustomersupport@silverlakeaxis.

com Tel +65 62259395

18 1971 simcorp.com Frank Heyder Chief Business

Consultant, legal practice CEE

[email protected],Tel +49(0)61729240-0 Tel +496172924080

Mobile +4901757214054

2 2005 slaterlabs.com Richard Fraser Senior Vice

President, Marketing and Sales


1 1993 softclub.com Ivan Grakov Director International

Business Development

[email protected] Tel +375 17 279 33 45

1969 softwareag.comAndreas

Espenschied Vice President

Business Operations Andreas. Espenschied@

softwareag.comTel +43 (0) 1329500

Mobile +496151922665

1974 geos.biz Dr. Wolfgang Goeb Sales & Product-

Management [email protected] Tel +43 1 240 56 5203

16 1985 sophis.com

1 1983 sdv-it.de [email protected]

1982 sungard.com [email protected] Tel +41 22 929 83 00

37 1979 apakgroup.com Chris Tobey Business

Development Manager


Tel +44 1454 871188 Mobile +44 7825 504244

1984 [email protected], info365@

sybase.comTel +49 1805 335-669

3 1998 targit.at [email protected]

1968 tcs.com Mark Hutchins PMP, Account

Manager thomas.fi [email protected], mark.

[email protected] +49 172 6835344

7 1996 [email protected], ventases@

technisys.net Tel +34 915 567 169

60+ 1993 temenos.com Marc Philippo Head of Inside Sales [email protected], [email protected]

Tel +44 20 7423 3708

1979 teradata.com [email protected] Tel +43 1 227 15–0

themetechnologies.com [email protected] Tel +91 44 43446666

2008 thomsonreuters.comBoris Lipiainen,

Michael Henssler

Head of Product Management / PM

F2B

[email protected], michael.henssler@

thomsonreuters.com

1968 tieto.at Franz Dietrich Manager offi [email protected] Tel +43(0)1-33174-1293

Mobile +43(0)664-5240902

2 1987 topsystems.com.uy Joaquín Moreira Business

Development Manager

[email protected] Tel +598) 2 900 2627 Mobile +598) 94 346 590

1 1997 tosan.com [email protected] Tel +98 21 82198000

1998 trustbankcbs.com [email protected] Tel +91 712 2223269

100+ 1873 unisys.com Michaela Rippar Marketing

Communications Manager - Austria


Tel +43-1- 260 64 0Tel. +43 1 260 64 - 1210 (Michaela)

Mobile +43 664 64 63 400

9 1982 [email protected]

Tel +852 2197 2888

2 vbs-vantage.com Johan Vermeij CEO [email protected] Tel +62 21 93620884

[email protected],

[email protected] +33 1 44 09 55 00

1 1996 vsoftcorp.com [email protected] Tel +1 770-840-0097

14 wallstreetsystems.com [email protected] Tel +49 69 7593 8525



G Table of Illustrations

Figure 1 US Tax Reporting PieFigure 2 FATCA MilestonesFigure 3 Vendor Classifi cation by RegionFigure 4 FATCA – Vendor Release ScheduleFigure 5 Type of Solution

Chapter G Table of Illustrations

51 PwC 2012


H Abbreviations

BI Business Intelligence BP m Business Process Management CAP m Certifi ed Associate in Project Management CDD Customer Due Diligence CMMI Capability Maturity Model Integration CMMI-DEV Capability Maturity Model Integration for Development CR m Customer Relationship Management DSS Decision Support Syste m EIN Employer Identifi cation Number FATCA Foreign Account Tax Compliance Act FDAP - Income Fixed, Determinable, Annual, Periodical - Income FFI Foreign Financial Institution HIRE Act Hiring Incentives to Restore Employment Act IRC Internal Revenue Code IRS Internal Revenue Service ITS m IT System Management KYC Know Your Customer MIS Management Information Syste m N/A Not applicable NFFE Non-Financial Foreign Entity OPAL Open Architecture Layer PGMP Program Management Professional PMI Project Management Institute PMP Project Management Professional PPP Passthrough Payments Percentage QI Qualifi ed Intermediary RDBMS Relational Database Management Systems SCV Single Customer View TIN Tax Identifi cation Number TRS Transaction Reporting Syste m

Chapter H Abbreviations



I The PwC Team

Chapter I The PwC Team

53 PwC 2012


Thomas StrobachPartner – TaxErdbergstrasse 2001030 Wien - Austria T: + 43 (1) 501 88 - 3640 M: +43 699 101 49 820E-mail: [email protected]

Günther Seyer Senior Manager – FS AdvisoryErdbergstrasse 200 1030 Wien - Austria T: +43 (1) 501 88 - 5118M: +43 676 833 77 5118E-mail: [email protected]

Karl KüpperSenior Manager – Tax Friedrich-Ebert-Anlage 35-3760327 Frankfurt am Main - GermanyT: + 49 69 9585 - 5708M: + 49 171 557 3192E-mail: [email protected]

Markus JensenManager – FS AdvisoryFriedrich-Ebert-Anlage 35-3760327 Frankfurt am Main - GermanyT: + 49 40 6378 - 1735M: + 49 175 221 3007E-mail: [email protected]

Christoph SchärerDirector – Tax Birchstrasse 1608050 Zürich - SwitzerlandT: + 41 (0) 58 792 - 4282M: + 41 (0) 79 745 0926E-mail: [email protected]

Marc LehmannDirector – FS AdvisoryBirchstrasse 1608050 Zürich - SwitzerlandT: + 41 (0) 58 792 - 2650M: + 41 (0) 79 785 6993E-mail: [email protected]

Austria

Germany

Switzerland



J About PwC What we can do for you

Chapter J About PwC

PwC ranks among the leading audit and consultancy fi rms throughout the world and positioned itself as the global market leader in FATCA, with all major fi nancial institutions trusting our advise We are actively shaping the upcoming regulations, making sure that our clients are heard at the IRS

Our areas of expertise are as follows:

• Auditing, system and process review and consulting services

• Tax and legal consulting and Human Resource Services

• Consulting services regarding process optimisation, crisis management, trans-actions as well as any issues concerning sustainability.

As you may well expect, we generally work as legal experts, business experts and technical specialists; but with us you’ll also come across a few professionals you might not have quite expected, such as doctors and physicians. We belong to a global community of about 169.000 people offering wide-ranging expertise and a wealth of ideas as well as one com-mon purpose: To create winning relation-ships and – in working together with you – to add the value that you are looking for.

Local and global leading companies – whether renowned car producers, estab-lished chemical manufacturers or innova-tive technology start-ups – the public sector as well as banks have all come to appreciate our expertise.

Wherever you are, you’ll fi nd us there as well. And wherever you head off to, we’ll never be far away. With offi ces in 158 different countries, whether in Austria or Russia and right the way from Argentina to Zambia, we make sure we’re always ready to help our clients – wherever they may be.

At PwC, we pride ourselves on offering consistency in quality throughout the world. Uniform auditing and quality standards together with streamlined organisational structures in all PwC member fi rms mean that we are constant-ly able to deliver the highest quality servic-es in Austria and worldwide.

German speaking contacts are also avail-able to our clients on an international level thanks to our “German Desks”. They are familiar with specifi c national accounting standards as well as local conditions, thereby also enabling us to provide an optimum service to our German speaking clients on an international level.

All these features enable us to meet your requirements and to provide you with the best possible service.

Our global FATCA experts team consists of 600 professionals, sharing our experience through Centers of Expertise located in Paris, London, Frank-furt and New York

55 PwC 2012


www.pwc.de/fatca


it waking up to fatca vendor screening · 2013-02-20 · signed a new tax regime; the foreign...

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