Banking decision sciences and regulatory compliance pioneer iCreate has announced a comprehensive, ready-to-deploy solution to help banks effectively address their FATCA compliance challenge – Fintellix for FACTA Compliance. This product is a single comprehensive platform to track / report the FATCA status of customers and enable a seamless flow of information from the bank to the regulatory authorities, with an emphasis on data quality, data integrity and data governance. iCreate said it is a productized solution built by its banking data scientists. With a short implementation cycle and requiring minimal customization, the solution has been specifically engineered to help banks and financial institutions achieve compliance quickly at low TCO. It easily integrates with the banks’ existing systems with minimal changes and is also scalable and extensible to comply with current reporting changes and future regulatory mandates. Innovative features, such as the ability to analyze customer data and prompt for missing data necessary for FATCA compliance, ensure that immediate FATCA requirements are addressed well. The solution also features a customer document management module, enhanced KYC for FATCA compliance, customer classification, tagging & alerts, FFI data management, transaction data management, withholding tax calculation and API for recalcitrant customers.