Newgen to Enable Banks in Philippines to Become FATCA Ready

MANILA, Philippines, March 26, 2014 /PRNewswire/ --

• Organises Seminar for banks to help meet FATCA * compliance

Newgen Software, a leading global provider of Business Process Management (BPM), Enterprise Content Management (ECM), and Customer Communication Management (CCM) solutions, is organizing a seminar on 'Creating a Blueprint for FATCA Success' in Makati, Philippines, on 3 April 2014.

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In this seminar Newgen FATCA Center of Excellence (CoE) will elaborate on creating the right strategy and leveraging IT infrastructure for FATCA readiness and compliance. The Seminar will be addressed by Ms Rossana S Javier, Consulting Managing Partner PwC, Philippines. Selected participants will also have an opportunity to hold one-to-one discussions with Newgen CoE Team and PwC FATCA experts.

Speaking about the seminar, Mr Diwakar Nigam, Managing Director, Newgen Software, said: "Newgen FATCA solutions are an intelligent combination of our deep rooted understanding of the act, how it impacts Financial Institutions and our robust BPM and Case Management platform. This seminar will elaborate Newgen's ability to build smart and flexible FATCA processes for banks. We will showcase how Newgen Case Management approach scores over leveraging usual AML (Anti Money Laundering) applications for FATCA compliance."

Ms Rossana S Javier commented: "FATCA rules have been looming for a while and banks are aware that ultimately they will have to be compliant. There's a general 'wait and see' attitude among the local banks on how FATCA will impact their operations. As in any other implementation, the sooner the bank gets its arms around the project, the higher the probability of successful implementation. Software solutions offer an option to facilitate compliance with FATCA rules. In the end, it is the bank's willingness to meet the challenges of FATCA head on earlier rather than later."

The seminar will be attended by business and compliance leaders from all major Banks in the Philippines. It will consolidate Newgen's FATCA initiatives in the region. Newgen currently is already implementing FATCA solutions for two large Banks in the Caribbean Island.

About Newgen http://www.newgensoft.com

Newgen has a global footprint of 1000 + installations in over 50 countries at the world's leading BFSI, BPOs, Healthcare, Government, Telecom Companies & Shared Service Centers. Newgen prestigious clients in APAC includes Bank Islam Brunei Darussalam Bank Nusantara Parahyangan, Security Bank, Mega Bank, Mekong Development Bank, Tien Phong Bank and East West Bank.

*(Foreign Account Tax Compliance Act) 

Media contact: Asif Khan, +65-6221-8432, Asif.khan@newgen.co.in