To meet new regulatory reporting requirements for cross-border tax arrangements, the bank will rely on the new FiTAX DAC6/MDR module from BearingPoint RegTech.

The module was developed specifically for the DAC6 / Mandatory Disclosure Rules regulation. From Q3 2020, cross-border tax arrangements must be reported within 30 days. BearingPoint RegTech's DAC6/MDR module facilitates the process of complying with the new regulations and enables the identification and a clear tracking of all reportable and non-reportable agreements. To start operations on time, EWUB has commissioned BearingPoint RegTech's Professional Services Team with the software implementation.

"What particularly convinced us about BearingPoint RegTech's solution was the quality and intuitive use of the software. We hope that the broad functional scope of BearingPoint RegTech’s DAC6/MDR module will help us in meeting regulatory requirements," says Nicolas Marinier, Chief Compliance Officer of East-West United Bank. "We are looking forward to expanding our partnership with BearingPoint RegTech and are considering using their solutions in other areas of regulatory reporting".

"We are very pleased that we won EWUB as new client for our FiTAX solution. We reacted quickly to the new reporting requirements and are able to provide our customers with an efficient module for the reporting of cross-border tax arrangements. We are also releasing a cloud-based version of our innovative solution", says Ronald Frey, Member of the Management Board of BearingPoint RegTech.