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

Markit Document Exchange Partners with CTI for Tax Documentation

Subscribe to our newsletter

It has been a busy month for Markit’s documentation management platform. Following the signing of partnership agreement with Avox earlier in April, the vendor has now partnered with tax compliance software and consulting company, Compliance Technologies International (CTI). Under the agreement, the vendors are working together to integrate CTI’s electronic W-8 application for the US Internal Revenue Service (IRS) with Markit Document Exchange’ s counterparty document solution.

The IRS form is required for completion by non-US investors to establish their non US status, thus exempting them from being subject to US withholding taxes and reporting.

Penny Davenport, managing director and head of Markit Document Exchange, explains that the integration will allow financial institutions to store, review and exchange W-8 tax forms from a single platform. “By partnering with CTI, we are helping our clients cut the workload associated with exchanging and reviewing W-8 tax forms. This fits neatly with Markit Document Exchange’s goal to make collecting counterparty documentation more efficient,” she says.

Dan Burt, executive director and co-founder of CTI, adds: “Given the number of mutual clients we have and the complementary nature of our product offerings, the synergies created by our relationship will be very beneficial for the financial services industry.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Managing entity data hierarchies and keeping track of sanctions, watch lists and PEPs across KYC processes

Managing entity data and entity ownership hierarchies to ensure Know Your Customer (KYC) compliance is an ongoing challenge for many financial institutions. The webinar will discuss the most pressing concerns around entity and hierarchy data, and consider how to ensure you are effectively managing entity data, hierarchies, sanctions, watch lists and politically exposed persons (PEPs)...

BLOG

13 Leading AI-Based Data Management Capability Providers

Institutions are facing huge operational burdens as they ingest huge volumes of data, demand real-time analytics and face stringent regulatory scrutiny. Consequently, the new data landscape is rendering traditional data management systems inadequate for the growing number of use cases to which data is being deployed. This has necessitated a shift towards modern data management...

EVENT

RegTech Summit New York

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

GUIDE

Practicalities of Working with the Global LEI

This special report accompanies a webinar we held on the popular topic of The Practicalities of Working with the Global LEI, discussing the current thinking around best practices for entity identification and data management. You can register here to get immediate access to the Special Report.