About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

eClerx and Comply Exchange Team Up to Offer Tax Reporting Solution

Subscribe to our newsletter

eClerx and Comply Exchange have teamed up to offer an end-to-end tax reporting solution that is designed to help financial institutions meet the requirements of regulations including the Foreign Account Tax Compliance Act (Fatca) and the OECD’s Common Reporting Standard (CRS).

The partnership brings together business process outsourcing provided by Mumbai based eClerx with tax reporting software provided by London based Comply Exchange. The resulting solution is offered as a managed service, with Comply Exchange hosting the software and eClerx running operational aspects of the service. Alternatively, the software can be deployed in-house and supported by eClerx. It has also been integrated into a utility used by a number of banking participants.

Alan Paris, principal at eClerx, explains: “Fatca and CRS have significant implications for reporting and compliance, and highlight the reality that processing requirements to meet regulations will soon escalate exponentially. Our alliance with Comply Exchange provides the easiest and most cost-effective way for institutions to process the mountain of paperwork that Fatca and CRS demand.”

The companies’ tax reporting solution provides an automated process in which eClerx digitises electronic and paper documents, normalises and processes the data, and loads it into a database that can be searched and used to track data back to original documentation. The data is then uploaded to the Comply Exchange software where it is processed for tax reporting. Features of the solution include structured and rules-based workflows with escalation protocols, support for customer segmentation, form validation for client details and updates to banks’ internal systems, multi-jurisdictional coverage for Fatca and its UK equivalent CDOT, and withholding calculations.

The solution is available worldwide and leverages eClerx’s offshore delivery centres in India. Paris says several clients are working with the solution, primarily to support Fatca compliance. He acknowledges tax reporting solutions from other vendors in the market, but differentiates the eClerx and Comply Exchange solution on the basis of eClerx’s experience of tax operations and processing, and Comply Exchange’s ability to deliver flexible and scalable technology. Looking forward, Paris says eClerx and Comply Exchange are developing the software and business process operations to support more regulations that include tax reporting requirements.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to simplify and modernize data architecture to unleash data value and innovation

The data needs of financial institutions are growing at pace as new formats and greater volumes of information are integrated into their systems. With this has come greater complexity in managing and governing that data, amplifying pain points along data pipelines. In response, innovative new streamlined and flexible architectures have emerged that can absorb and...

BLOG

FinScan Data Quality Chief Seeks to End Compliance Failure Excuses

The dog ate my homework. The train was delayed. The postman mislaid your birthday card. At one time or another, we’ve all used a weak excuse to forestall censure for an error of behaviour or judgement. And mostly, we’ve got away with it. In financial regulatory compliance, however, excuses won’t wash. Especially when it comes...

EVENT

RegTech Summit London

Now in its 9th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...