Can Financial Institutions Afford to Do It Alone?
Today’s regulatory environment presents unprecedented challenges that extend beyond most institutions’ internal capabilities.
Revolutionizing Tax Information Reporting for Financial Institutions
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Explore the evolving landscape of tax information reporting for financial institutions and discover how the from TCS BaNCS and Sovos addresses critical compliance challenges in today’s increasingly complex and digitally focused regulatory environment.
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Fragmented Data Management
Disparate systems create compliance gaps and increase audit risk across your tax reporting processes.
Evolving Regulatory Landscape
Keeping pace with constantly changing regulations and digital reporting requirements demands specialized expertise.
Compliance vs. Efficiency
Balancing rigorous compliance requirements with operational efficiency while managing costs and resources.
Managed services
Can Financial Institutions Truly Afford to Navigate Today's Complex Tax Information Landscape Alone?
Wendy Walker, Vice President, Regulatory Affairs, Sovos, and Aaron White, Program Director, Control, Risk and Regulatory Compliance (NA), TCS BaNCS, examine why financial institutions struggle to manage complex tax information reporting independently and explores how the TCS-Sovos partnership addresses these challenges. As regulatory requirements become increasingly digital and complex, institutions face obstacles including fragmented data management and keeping pace with regulatory changes. Industry experts demonstrate how integrated solutions can streamline compliance processes, reduce implementation timelines, and provide continuously updated regulatory content, making the case that most financial institutions need specialized tax partners to navigate today’s compliance landscape effectively.
“Financial institutions need a true tax partner, as managing complex tax information reporting often extends beyond a financial institution’s internal capabilities“.
The Sovos + TCS BaNCS Advantage
Integrated solutions that streamline comprehensive compliance and provide continuously updated regulatory content.
Seamless Integration
TCS BaNCS and Sovos partnership delivers seamless solutions that eliminate data silos and create a unified compliance ecosystem tailored for financial institutions.
Continuous Compliance
Stay ahead of regulatory changes with continuously updated content and real-time validation that ensures your reporting remains accurate and compliant.
Comprehensive TIR Coverage
Support for 50+ form types including 1099, 1042-S, 1095, 5498, W-2, and more with complete state reporting capabilities across every filing method.
Flexible Statement Delivery
Flexible statement delivery via printing and mailing or electronic delivery reduces costs associated with printing and mailing while providing a secure way to deliver tax information to payees with the ability to view updated tax forms in real-time.
Proven Track Record
| 500M+ | IRS forms filed annually as the #1 private filer |
| 4B | Transactions processed during high-traffic periods |
| 95% | Customer retention rate across our solutions |
| 50+ | Supported form types with complete audit defense |