Regulation Asia honors BearingPoint RegTech for a successful implementation project of their tax reporting solution FiTAX
BearingPoint RegTech, a leading international provider of innovative regulatory and risk technology solutions (RegTech and RiskTech), has been announced as the winner in the category “Outstanding Project – Tax Reporting” at the Regulation Asia Awards for Excellence 2019 in Singapore. Regulation Asia’s editorial team and a panel of experts acting as judges and advisory panel went through a careful selection process. The jury recognized the implementation project of BearingPoint RegTech’s tax reporting solution FiTAX at a major international bank. A team of BearingPoint experts based in Singapore and Switzerland supported the bank with all aspects of the implementation, from architectural design decisions, through data mapping and set-up, to testing and ultimately go life.
This implementation project demonstrated how BearingPoint met the need for a sophisticated solution to meet the challenges of producing high quality QI, FATCA and CRS reports. BearingPoint’s demonstrated deep expertise in large scale transformation of complex operational processes and policy changes, leading to the successful implementation of the solution, on time and in budget.
Brad Maclean, Co-founder and Executive Chairman Regulation Asia
We are very proud to have received the Regulation Asia Award in the category “Outstanding Project – Tax Reporting” as it mirrors the success of our large FiTAX implementation project at the bank.
Ronald Frey, Member of the BearingPoint RegTech Managment Board
FiTAX is a sophisticated and holistic 360° tax reporting solution, and market leading in numerous countries throughout the world. With FiTAX, financial institutions can cover their reporting needs under many tax regimes, such as CRS, FATCA, QI and DAC6. From data acquisition to uploading directly an encrypted report file into the tax authorities’ portals, FiTAX covers more than 130 jurisdictions.
The winners of the Regulation Asia Awards for Excellence 2019 were announced during the award ceremony in Singapore on November 13, 2019. Xiangyu Wang and Stefan Fuchs accepted the award for BearingPoint RegTech.
In the 2018 Regulation Asia Awards, BearingPoint won the Best Solution in Tax Reporting for FiTAX.