The startup offers an automated platform for FATCA and CRS validation that enables banks and financial institutions to complete and submit tax forms from any device with real-time IRS guidance and validation checks. This technology streamlines tax operations, allowing teams to efficiently manage multi-level reviews and complex workflows, transforming compliance into a competitive advantage.
Funding
$17.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial institutions face increasing complexity and costs in complying with FATCA and CRS regulations, including the need to validate tax forms, manage multi-level reviews, and navigate evolving regulatory requirements. Disparate systems, manual processes, and the risk of human error contribute to operational inefficiencies and potential compliance breaches.
Solution
TAINA Tech provides a fully automated FATCA and CRS validation platform that streamlines tax operations and transforms compliance into a competitive advantage. The platform digitizes tax form information, cross-checks and validates it against golden sources, and applies a best-in-class rule engine maintained in partnership with industry leaders. TAINA's platform offers an online customer portal for simplified onboarding, a tax operations validation portal for efficient review and remediation, and a tax form API for seamless integration with existing systems.
Target Audience
TAINA Tech serves established financial institutions, digital financial institutions, asset management firms, fund administrators, crypto exchanges, and other businesses that must comply with FATCA, CRS, and other tax regulations.
Features
- Online customer and investor portal with a smart interface, built-in guidance, and real-time validation
- Tax operations validation portal with built-in workflow, scanned forms module, and multi-level review capabilities
- Tax Form API to programmatically input and validate forms, including W-series and CRS self-certifications
- OCR technology for digitizing handwritten tax forms with improved checkbox reading capabilities
- Withholding tax calculator to determine withholding rates for beneficial owners and partners
- Intermediary multi-tier manager for processing and visualizing complex intermediary structures
- Change in circumstance monitoring to track uncured changes and grace periods
- Management information and data analytics with downloadable reports