As part of our cloud adoption strategy and being a Microsoft Gold Partner, Macro Global has tailored our CRS solution as a Secure Cloud-based Web Application by automating the entire processes around CRS reporting with all our experience & expertise in the regulatory landscape.
This strategic change ensures our customers are transitioned to a much better “Fully Supercharged, Single licencing, All-in-one SaaS Platform” that takes care of your business round the clock, “Anywhere, Anytime, Any Device”.
Macro Global’s CRS Stride enables the bank to meet the HMRC CRS requirements to achieve the ‘Fully compliant to CRS’ status by automating the entire CRS reporting process. Our CRS solution is efficient with automatic data validation and processing including CRS XML reporting and technical standards for audit compliance and process monitoring. The CRS Stride is offered as a cloud-based web portal with flexible access. Fully automated reporting solution to meet the ever-evolving regulatory requirements thereby increasing operational efficiency. Our application validates the data and runs it through risk and regulatory calculations to produce XML reports.
Our CRS solution facilitates the financial institutions to extract the raw input data from disparate datasets by fully automated mapping to the banks data sources and to enrich the same by making amendments at the customer level “within the application”. Banks can make use of the updated CRS data to generate and email the customised self-certificates for the individual, entity and controlling person customers with a touch of a button.
The generated CRS XML file is subjected to 90+ CRS specific audit validations to identify the inconsistencies within and to categorize them based on their severity. The banks can utilise the extensive “Risk-based Audit Report” generated out of our solution to identify and mitigate the risk items around the source data which could trigger non-compliance of HMRC CRS reporting mandates.
Cloud Adoption: What does it bring to our customers?
- One licence covers everything around CRS reporting including Automation and Audit validation, Variation and deletion submission with HMRC and subject matter expert support1.
- Hassle-free CRS reporting file generation within 45 minutes.
- Our CRS Reporting Hub seamlessly consolidates, validates, and enriches the data by improving data integrity and reporting accuracy based on HMRC CRS XML Schema definition.
- Centralised archive of regulatory data as well as transparent end-to-end audit trail on regulatory measures.
- Our Secure cloud-based SaaS platform handles any volume of customer data flawlessly with utmost data integrity and accuracy.
- Our usual extended legal coverage and service level assurance with 99.99% uptime.
- Comprehensive support to your Business Continuity for audit purposes as the platform available in two availability zones 24 X 7 X 365 on UK based data centres.
- Hosted on Microsoft Azure Private Cloud which gives the strongest security platform, and it is rated as the top in the industry for security with automatic encryption on everything.
- You can completely remove your CapEx spending on the infrastructure as we manage it fully on the cloud
- Cloud Data Can be removed once you process and have submitted data to HMRC successfully providing additional peace of mind to your internal security and compliance team.
About Macro Global
Macro Global (MG) the UK based IT products and services company have been offering more advanced and evolving FinTech and RegTech solutions to over 25 plus Banks in the UK and expanding across Europe & MENA markets. We are one of the leading and fast-growing vendors in the Regulatory Technology space and are very well known as the most trusted strategic technology partner by our clients in the UK and European markets for easing out their compliance obligations and regulatory burdens.
We are ISO certified in the following categories and all our products and services are more secure and comply with the industry’s top accreditation. In addition, we are further working on CMM & SOC Type 1 & 2 compliance global accreditation.
- • ISO 9001:2015 – Quality Management System
- • ISO 27001:2013 – Information Security Management
- • ISO 27701:2019 – Privacy Information Management
- • ISO 27018:2019 – PII protection in public clouds
We hold 10% of foreign banks market share in the UK and the major retail/corporate banks in the UK use our products ranging from regulatory and compliance, open banking & open finance, consumer payments and next-gen banking. We continue to onboard 10-plus banks across various regions. We currently cover all major core banking systems including Finacle, FlexCube, Temenos T24, ACBS, Finastra CBS Platforms (Fusion & Equation) and working on TCS BaNCS and all our customers have great confidence in us for three reasons – Quality of the product, Exceptional Service delivery & Speed of support as you already heard from the market.
