Missed the deadline for the CRS and FATCA reporting obligation?
It is better late than never! Complyport Tech can fully support and assist with your CRS & FATCA reporting needs. Complyport Tech offers complete support and assistance for your CRS and FATCA reporting needs. We handle the collection of reportable information, preparation of CRS and FATCA annual reports, and, for most jurisdictions, the submission to the relevant competent authority in accordance with the provisions of CRS and FATCA. With ΜΑΡ FinTech’s CRS and FATCA Reporting Services, you’ll experience a user-friendly approach to receiving, validating, transforming, and submitting the necessary information required for CRS/FATCA reporting and due diligence rules. Our services are delivered via our powerful and award-winning Polaris platform, together with the rest of its reporting offerings and our team of experts’ impeccable support services. ΜΑΡ FinTech’s CRS/FATCA – Key Features Cost-efficient integrated reporting solutions provided under a single platform. Highly automated and scalable solution that can report as many accounts as you have. Flexible in the way it receives data via standard templates or raw data. Multiple reporting health checks for both content and schema and automatic filtering of erroneous entries. Automatic conversion of data to XML and separation of files based on tax residency. Submissions to various tax authorities worldwide. On-going communication with regulators to ensure the system reports reflect regulatory updates and changes. About Complyport Tech Complyport Tech is a leading award-winning UK and EU regulatory technology provider for the financial services industry, specialising in reporting solutions arising from the requirements of a number of complex and challenging international regulations such as EMIR, MiFID II/MiFIR, ASIC, SFTR, MAS, FATCA, DAC6 and CRS. Complyport Tech also provides innovative and comprehensive solutions for Best Execution Monitoring, RTS 27/28 reporting, KYC & AML Transaction Monitoring, Trade Surveillance (Market Abuse), and eKYC (Screening, eIDV, Document Authentication). If you would like to receive more information about our CRS and FATCA Reporting Services or need assistance with your CRS and FATCA reporting requirements, please do not hesitate to contact our expert team.
Complyport Tech’s ‘Summer Afternoons’ Program: Embracing a 32-hour Work Week for All Employees
For the second consecutive year, Complyport Tech will implement the ‘Summer Afternoons’ program for its employees during the summer months. As part of this program, all staff members will have two afternoons off per week in July and August. This means the employees will work a 32-hour week based on the standard 4-day work week while still receiving the same remuneration and benefits. The ‘Summer Afternoons’ program reflects the company’s culture, which prioritises the well-being of employees and recognises their contributions towards achieving business goals. The company believes in investing in its employees’ welfare and is committed to continuously improving the working environment. The ‘Summer Afternoons’ program aligns with Complyport Tech’s existing hybrid and flexible working model. Its purpose is to promote a better work-life balance for employees, particularly during the summer season, allowing them to relax and spend quality time with their families and loved ones.
Complyport Tech Honours Students at PASCAL Greek School
For the third consecutive year, Complyport Tech has celebrated and honored exceptional academic achievements at the Pascal Greek School. In a special ceremony, the company presented awards to the top-performing students who demonstrated exceptional excellence in the subjects of Information and Communications Technology (ICT) and Applied Computer Science. This year, the prestigious accolades were received by Theofanis Orphanou and Michalis Stavrou, respectively. The awards ceremony took place during the school’s graduation on June 28, 2024. Complyport Tech’s Senior Software Developer, Philippos Mylonas, presented the prizes to the recipients. This initiative highlights Complyport Tech’s commitment to nurturing and encouraging the next generation of Cypriot talent. By acknowledging and celebrating the exceptional academic performance of these students, the company aims to inspire and motivate young minds to excel in the field of technology. We extend our heartfelt congratulations to all the students who received awards for their remarkable academic performance!
EMIR REFIT – Reporting Using ISO 20022 XML. Partner Up with Complyport Tech to Overcome Your Challenges
As we approach the deadlines to apply the changes to EMIR reporting for the EU (April 29, 2024) and the UK (September 30, 2024), it is essential to understand these new requirements. According to the EU’s Implementing Technical Standards and the UK’s EMIR Technical Standards, the specifics of a derivative contract under EMIR REFIT must be reported using a standardized XML (Extensible Markup Language) template following the ISO 20022 standard. As the regulators state, this requirement aims to improve data quality and consistency while minimising data integrity risks. Also, by reducing the need for data cleaning and normalisation, it will make the utilisation of data easier for regulatory supervision and economic analysis. Similarly, using this XML methodology and working with XML files entail certain challenges that are crucial for the reporting entities to consider: Complexity: XML files have a more complex structure than CSV files. Handling complex XML files can require more advanced parsing techniques and tools. Size: XML files tend to be larger in size compared to equivalent data stored, for example, in CSV format. This is primarily because XML includes additional metadata and self-describing information in the form of tags and attributes. As a result, processing large XML files can be more resource-intensive and time-consuming. Parsing Overhead: Parsing XML files requires more computational resources compared to CSV files. This overhead can impact performance, especially when dealing with large XML files. Readability and Editability: Manually navigating and modifying XML files can be time-consuming and prone to errors, especially when this interaction is frequent and for large or complex XML files. Cost of Expertise/Know-how: Someone must possess the relevant expertise to implement and maintain the XML methodology and work effectively with the XML files. Obtaining and maintaining such expertise entails the investment of time and financial resources. If they haven’t done so already, companies should prioritise conducting an internal evaluation at this critical stage. It is essential to assess how they will effectively meet the new reporting requirement of adopting the ISO 20022 XML methodology. However, carefully considering the challenges mentioned above is vital prior to reaching any decisions. In this regard, making informed choices holds the utmost importance for successful compliance. At Complyport Tech, we possess extensive expertise in the XML methodology. We have used it for several years for similar regulatory reporting frameworks such as EMIR, SFTR, MiFIR, and others. Over the years, we have successfully submitted millions of transactions using this methodology. Through our Polaris reporting platform, we offer clients the flexibility of providing us with CSV files, which we then convert into the appropriate XML format as required by the regulatory mandate before submitting them to the Trade Repositories (TRs). Similarly, when receiving feedback files from the TRs, which may be in XML or other formats, Polaris converts these into a more user-friendly and comprehensible format, such as CSV files, tables, and graphs that are presented within the portal. What is important to note here is that access to the original XML inbound and outbound files will always be available to the reporting entity, again via Polaris. By partnering with MAP FinTech, reporting entities can confidently navigate the regulatory landscape and focus on their core business operations. Our team of experts is here to assist you with any questions or clarifications you may have. Contact us today!
Unleashing Talent and Shaping the Future: Announcing the Second Complyport Tech Internship Programme
MAP FinTech is thrilled to announce the launch of its second internship programme, an exceptional opportunity designed to nurture and empower young, enthusiastic individuals within the dynamic learning and growth ecosystem of MAP FinTech. Following the tremendous success of our programme, which was officially launched in June 2022, we are excited to bring together another group of interns and mentees at MAP FinTech. In today’s rapidly evolving RegTech industry, innovative solutions, well-trained professionals, and diverse skill sets are in high demand, and this programme aims to address these needs. By investing in recent graduates and young professionals, we aim to equip them with the necessary skills and knowledge early on, preparing them for successful careers in RegTech. During the internship, participants will have the invaluable opportunity to gain hands-on experience by working alongside our highly experienced technology experts. They will engage with various modern software development frameworks and technologies, contributing to our award-winning Polaris platform’s continuous improvement and maintenance. The platform is utilised by our global clients not only to meet but exceed their regulatory reporting obligations. The true distinction of our programme lies in its unique blend of real-world projects and personalized mentorship. Under the dedicated guidance of our senior developers, interns will be exposed to authentic industry challenges, sharpening their skills and expanding their knowledge. This comprehensive training opportunity also encompasses professional development, mentorship, and coaching, nurturing a solid foundation of expertise required to excel in the RegTech sector. With the right skills and opportunities, these talented interns will play a vital role in driving local and global growth while achieving personal success. We are incredibly excited to welcome them to the family of MAP FinTech, and we look forward to witnessing their growth and accomplishments within our organisation!
Complyport Tech and Tools for Brokers announce an integration partnership
Complyport Tech and Tools for Brokers (TFB) are pleased to announce their partnership focusing on the integration of Complyport Tech’s reporting solution with TFB’s Trade Processor liquidity bridge with the aim of enhancing the functionality of both firms’ offerings. By integrating their cutting-edge technologies, TFB and Complyport Tech will place a strong emphasis on facilitating regulatory compliance for EMIR, MiFIR, ASIC, and Best Execution Monitoring. This integrated solution will provide clients with seamless and quick onboarding, enhanced safety and continuity, increased robustness of the reporting process, cost efficiencies, and a continuance of the excellent after-sales support services provided by both firms. Tools for Brokers provides top-notch technology solutions for retail brokerages and hedge funds. The firm’s flagship liquidity bridge, Trade Processor, offers multiplatform support, advanced order execution, and other powerful functionalities. The bridge is complemented by data and money management, and smaller tools for niche broker needs. Complyport Tech is one of the first providers in Europe to have reported under the European Market Infrastructure Regulation (EMIR) and, over the years, has developed fully automated solutions for various regulatory requirements. The firm’s Polaris platform, with its advanced capabilities for reconciliation, validation, and monitoring, has become an extremely useful tool for regulated entities, being recognized as a leading regulatory platform with a proven track record of success and performance. The technology and support processes involved have been finetuned over the years, making Polaris one of the most mature regulatory reporting platforms available in the global market today. Alexey Kutsenko, CEO of TFB, said: “We are very pleased to announce our partnership with Complyport Tech. Making reporting and data analysis accessible for our clients is an ongoing focus for TFB. We are constantly working on making data in the Trade Processor liquidity bridge more accessible to all users. Complying with local authority requirements is absolutely essential. Through the collaboration with Complyport Tech, we hope to make this process as seamless as possible and provide built-in reporting for more regulators. With this powerful functionality at their fingertips, our clients will be more diligent and competitive, allowing them to succeed even in turbulent times.” Panayiotis Omirou, CEO of Complyport Tech, commented: “Our partnership with TFB is a significant step towards simplifying regulatory reporting for financial institutions, and it highlights our commitment to consistently provide added value to our clients. By integrating Complyport Tech’s reporting solution with TFB’s multiplatform liquidity bridging technology, clients can benefit from a streamlined and efficient reporting process with a full range of regulatory reporting solutions that will save them both time and money. We are thrilled about this partnership with Tools for Brokers and the benefits it will deliver to our clients. We look forward to continuing to set the standard for regulatory reporting in the financial services industry.”
Complyport Tech proudly sponsors the Annual General Meeting (AGM) of the Association of Cyprus International Financial Firms (ACIFF)
We are excited to announce that Complyport.tech is a proud sponsor of the Annual General Meeting of the Association of Cyprus International Financial Firms (ACIFF) that will take place on Thursday, 30 March 2023 at 17:30, via Teams. The ACIFF Annual General Meeting Open Session, will include a welcome speech from Mr. Demetris Taxitaris, ACIFF Chairman and keynote speeches by Mr. Constantinos Herodotou, Governor of Central Bank of Cyprus, and Dr. George Theocharides, Chairman of Cyprus Securities and Exchange Commission. The speakers will discuss current topics of interest to the banking and financial services industries and the economy.
Complyport Tech is a finalist at the National Technology Awards for 2023
We are delighted to share that Complyport Tech is one of the shortlisted nominees for the “RegTech Project of the Year” category at the National Technology Awards for 2023! Organized by National Technology News, the awards celebrate the pioneers of technology and encourage technological excellence. Winners for all categories will be announced at a Gala Dinner in London on the 25th of May 2023. View the full 2023 shortlist here. Learn more about our innovative and comprehensive regulatory reporting solutions here.
Complyport Tech employees teamed up for another blood donation.
Donating blood is one of the most significant and meaningful contributions that a person can make to society. With this thought, MAP S.Platis Group showed once again its continuous dedication to Corporate Social Responsibility by implementing a voluntary blood donation drive for its employees. The blood donation took place at our Limassol offices in collaboration with the Cyprus Blood Center. Complyport Tech encouraged all members of its staff to participate in the blood drive. The high participation rate revealed the company’s commitment to creating a healthier life for the local community and helping those in need.
Complyport Tech is a finalist for three categories at the RegTech Insight Awards Europe 2023.
We are pleased to announce that, for one more year, Complyport Tech has been shortlisted in three categories at A-Team Group’s 2023 RegTech Insight Awards Europe! These awards honor established solution providers and innovative newcomers that have developed successful RegTech solutions throughout the year, improving firms’ ability to respond to ever-changing and increasingly complex regulatory requirements across the global financial services industry. We would greatly appreciate it if you could cast your vote to support us. Complyport Tech has been shortlisted in the following categories: Best Transaction Reporting Solution (category 3) Best Regulatory Reporting Solution (category 4) Best Solution for EMIR (category 18) The last day to vote is Friday, 17 March 2023. Thank you in advance for your continued support and loyalty!