Regulatory Compliance
The following are the key features of 202204. For a complete list of the new features, refer What's New PDF.For the list of Reference Business Process, click here.
| Vertical | Feature | Description |
|---|---|---|
| Regulatory Compliance | Identifying Default of Obligors using Contagion Rules | The Default through Contagion feature is introduced in the Definition of Default Rules module to handle the identification of default of obligors related to a defaulted obligor using contagion rules. Contagion rules are applied on obligors who are first assessed to establish their default status. |
The following are the key features of 202202. For a complete list of the new features, refer What's New PDF. For the list of Reference Business Process, click here.
| Vertical | Feature | Description |
|---|---|---|
| Regulatory Compliance | Monitoring Probation Period to Assess Obligor’s Behavior | The functionality allows banks to apply and monitor the probation period before an obligor is moved from default to non-default status. |
The following are the key features of 202201. For a complete list of the new features, refer What's New PDF. For the list of Reference Business Process, click here.
| Vertical | Feature | Description |
|---|---|---|
| Regulatory Compliance | Capturing Multiple GIINs and Structural Validation | This functionality allows a bank user to capture multiple GIIN numbers when multiple numbers are provided by customers and supports the correct GIIN format and protects against user input error. |
| Regulatory Compliance | Unlikeliness to Pay Criterion | This functionality enables banks to set an obligor as default based on the identified unlikeliness to pay automatic indicators such as substantial exposure at default and manual indicators such as non-accrued interest status, increase in credit risk and legal issues. |
| Regulatory Compliance | Days Past Due Criterion | This functionality supports the identification and monitoring of the default status of an obligor using the DPD criterion. |
The following are the key features of 202112. For a complete list of the new features, refer What's New PDF. For the list of Reference Business Process, click here.
| Vertical | Feature | Description |
|---|---|---|
| Regulatory Compliance | Resubmission of the CRS File for Specific Accounts | This functionality supports the ability to re-submit the CRS XML file for a specific set of accounts. |
| Regulatory Compliance | Resubmission of the FATCA File for Specific Accounts | This functionality supports the ability to re-submit the FATCA XML file for the specific set of accounts. |
The following are the key features of 202111. For a complete list of the new features, refer What's New PDF. For the list of Reference Business Process, click here.
| Vertical | Feature | Description |
|---|---|---|
| Regulatory Compliance | Classifying an Obligor as Retail or Non - Retail | The Regulatory Definition of Default (RX) module is introduced in Temenos Transact to allow banks to identify the default of an obligor according to the rules prescribed by a regulator, which is required for regulatory capital requirement calculations. |
The following are the key features of 202110. For a complete list of the new features, refer What's New PDF. For the list of Reference Business Process, click here.
| Vertical | Feature | Description |
|---|---|---|
| Regulatory Compliance | Support 871(M) of IRS Derivative Contracts | This functionality records tax withheld on dividend-equivalent for derivative instruments to support section 871(M) of IRS, referencing US equity instruments along with the relevant underlying transaction information recorded in the US tax database. |
The following are the key features of 202109. For a complete list of the new features, refer What's New PDF. For the list of Reference Business Process, click here.
| Vertical | Feature | Description |
|---|---|---|
| Financial Crime Mitigation | Suspicious Activity Report | Financial Crime Mitigation (FCM) now generates a Suspicious Activity Report (SAR) that has a FinCEN-compatible user interface and output. |
| Financial Crime Mitigation | Data Event Streaming (DES) | Data Event Streaming (DES), now introduced in FCM, is a fault-tolerant application to stream entity events coming from Transact or other systems. |
The following are the key features of 202107. For a complete list of the new features, refer What's New PDF. For the list of Reference Business Process, click here.
| Vertical | Feature | Description |
|---|---|---|
| Regulatory Compliance | Automated Creation of CRS Records for all Customers | This functionality provides the user with the necessary tools to be able to correctly identify CRS Reportable customers and complete the due diligence process as required by the CRS Regulation. |
| Regulatory Compliance | Automated Creation of FATCA Records for all Customers | This functionality provides the user with the necessary tools to correctly identify FATCA Reportable customers as required by the FATCA Regulation. |
| Regulatory Compliance | Moving Loans to Charge-Off | This functionality supports the accounting of charge-off that relates to the recognition of an allowance for loan loss when the loan is in non-performing status. |
| Regulatory Compliance | Recovery from Charge-off | This functionality supports the accounting of recoveries for IFRS charge-off. When banks recover the dues on charged-off loans, they are treated as recoveries that represent collections on amounts that were charged-off. |
The following are the key features of 202105. For a complete list of the new features, refer What's New PDF. For the list of Reference Business Process, click here.
| Vertical | Feature | Description |
|---|---|---|
| Financial Crime Mitigation | Suspicious Activity and Currency Transaction Reports | The Knowledge Manger module is enhanced to generate SAR and CTR reports as per FinCEN’s expectations. |
| Financial Crime Mitigation | Interface and Visual Charts | The Batch and Real time Alert Managers of the Profile and Suspicious Activity Prevention (SAP) modules are enhanced with additional fields, which allows the user to view and add pre-configured dashboard charts based on customer transaction and other parameters used. |
| Financial Crime Mitigation | Screen Scanword (VScan) | Screen scan engine (VScan) is enhanced with various additional options to configure the word matching methods. |
