Trans World Compliance, Inc. (TWC) was founded by David Olenzak in 2014 to assist Financial Institutions and Governments through a software that meets the needs of a rapidly changing compliance environment and is a pioneer in CRS, FATCA, and BEPS compliance solutions.
TWC is headquartered in Washington, DC, USA but has a worldwide dedicated team of seasoned professionals to serve its international client base.
TWC has a different approach to RegTech compliance software development. Trans World software is based on the following guiding principles:
▪ Develop software from a user's perspective
▪ Make software simple; compliance is complicated enough
▪ Develop automated software with completely secure transactions ▪ Stay ahead of a constantly changing regulatory environment with continuous improvement
▪ Be technology agnostic and support multiple languages
Trans World Compliance's offering include:
CRS/FATCA One for Financial Institutions™ is installed or available via the cloud to assist Financial Institutions with complying with Common Reporting Standard (CRS) and US FATCA regulatory requirements. CRS/FATCA One’s remediation module uses flags to identify any indicia, data issues, or deficiencies. Once ready, data is staged, reviewed, and XML prepared. CRS/FATCA One supports over 100 different jurisdiction specific requirements including direct delivery to the Tax Authorities such as the US IRS.
CRS/FATCA One for Tax Authorities™ is a completely automated solution that provides a simple, easy-to-use interface for Financial Institutions to register and report CRS and US FATCA data to the Tax Authority. The system automatically exchanges information with partner tax authorities and makes the results instantly available to both Financial Institutions and the Tax Authority. CRS/FATCA One for Tax Authorities completes the process with a comprehensive audit trail and management reporting system to ensure compliance success.
Tax Authority Compliance Software (TACS) System™ augments CRS/FATCA One for Tax Authorities by supporting the exchange of an additional 24 OECD Base Erosion and Profit Shifting (BEPS) data exchange types through the OECD’s Common Transmission System (CTS 2.0). The entire TACS Systems operates on a proprietary TWC Common Core which provides a common interface and workflow for all modules. The TACS System Dashboard pulls together all TWC modules into a single place for monitoring and data analysis.
For more information:
Download the CRS/FATCA One for Financial Institutions brochure
Download information on the TACS System
Download the CRS/FATCA One for Tax Authorities brochure
Download information on CRS/FATCA A-1 for Tax Authorities which assist in FI Audits