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    PostFinance decides for CRS reporting solution of SDS

    The Swiss banking institution PostFinance AG decided in favor of the International Reporting Engine i:Reg CRS to comply with the Common Reporting Standard developed by the OECD.

    The PostFinance AG is a private limited-liability company and a 100% affiliate of the Swiss Post AG. With almost 3 M customers in Switzerland, it is a leading financial institution and with more than 1 billion processed transactions per year it is clearly the number one in the Swiss payment transactions business.

    For the PostFinance AG, the decisive factors for choosing i:Reg were the functional scope, the product maturity as well as the broad reference basis. According to the schedule, the integration project will be completed months before the first reporting deadline in 2018.

    International major banks already use the International Reporting Engine for approximately 80 countries. SDS is a leading solution provider in the area of tax reporting.

    i:Reg is used in the framework of the Automatic Exchange of Information (AEoI) for FATCA and CRS reporting. It is a reporting engine specifically designed for this purpose with which typical reporting processes can be carried out with the highest level of automation. Automatic data enrichment and the automatic resolving of exceptions, the capability to handle the most complex issues and apply the solution in several jurisdictions make i:Reg the best choice for local and large multinational groups and service providers.