TIARA Fintech Solutions Tax Services

Modern and Intuitive UI Design

Our concept has always been to make the complex simple. To fulfil this, we have aimed for data transparency and availability across all areas, enabling users to navigate readily and find the information required with little friction.

Income Scheduling

TIARA stores distribution details against the assets in a diary, this creates all income periods for the past and future history of the asset so we can identify what is still outstanding for the reporting periods. The system identifies relevant investor holdings throughout the period, providing layers of data to provide automatic control over the income distribution processes, enhancing the wider custody ops and reconciliation process.

With regulatory scrutiny across operations and reconciliations becoming increasingly onerous, TIARA can help streamline data checks and processes proactively.

Group 1 and group 2 units identified across all three calculation methods for the lifetime of all holdings.

Entitlements predicted, with CTV labels applied enabling automated reconciliation with multi-source interfaces.

Client level flags to identify how many entitlements are still outstanding for the period; drill to holding level detail. utilised in batch reporting.

Batch Reporting

Our batch reporting features are the culmination of all the design principles and the data management elements built up within the core of our solution. These elements enable full automation of the creation of client reports, which cannot be replicated by any competitors. The data tracking and flags enable users to identify complete reports and release batches as early as 6th April each tax year. Once published, if any data is updated, removed or inserted, TIARA automates the reprint requirement.

DATA Validation

By understanding data requirements, and core system gaps for tax processing, TIARA is designed to smooth data as part of the integration, reusing existing interfaces in most cases. Data processed is stored for use in the UI, reporting and API.

WORKFLOW Automation

Our income scheduling enables targeted resource to identify and retrieve rates and provide reconciliation and oversight of Group 1 and Group 2 positions. Data mapping via integration ensures transactional data is corrected automatically.

SCHEDULED Reporting

The static data drives batch creation on key dates throughout the year, catering for any reporting year end date. Additionally, once reports are published the system tracks any relevant data updates, inserts or removals enabling TIARA to identify any reprints systematically in real-time.

Onboarding

Transformation usually harbours feelings of dread and resentment for many. Historic projects with sliding timeframes, endless change requests for newly identified issues, problematic data migrations and a front office unhappy with proposed changes regardless of the proposition because, well, it's change and in fairness, they've probably got recurring nightmares from previous projects. When building TIARA, we designed many elements to ensure our onboarding process is as streamlined as our end product and we're confident we can implement any client in around 6 months.

Much of TIARA can be customised to specific needs, and often it isn't limited to all the organisation or none; this is done as standard as part of our integration. Our data migration experts will review the data and provide recommendations - you can choose to implement these or take a risk-based approach. We can provide extensive customisation of the published reports based on your internal design brief. If you have additional customisation needs for reporting, this may increase onboarding time by around a month.

Recycle

We can reuse existing interfaces where CSV files are delivered to the existing system. Our import feature looks for the recognised headers but ignores those that are surplus to requirements. It also does not matter where in a file column the data is placed, as it uses the header to identify and map.

Technical Support

Our integration partners, Kune Consulting, have been supporting the development of TIARA by providing expertise support on an ad-hoc basis. Their understanding of the TIARA core and experience in all things interface and API, means they will work alongside any onboarding project to provide technical assistance to all parties.

Yes, we did.... there are two elements to consider - tax reporting in isolation is not usually considered important enough to be changed on its own merit but, if it is part of a wider program, it isn't always given the full consideration required because of competing business interests. So, we wanted to make it easier to change systems so that the change itself is not a barrier to improving the function, reducing risk and cost. With our interface being very flexible we have many options to deal with the known deficiencies - some of our operational features like relationship management may handle some of the issues by default, alternatively we can apply specific rules within TIARA to smooth the data on the way in, or with our integration partners (Kune Consulting) we can create an external transformation stage where data smoothing can be done prior to hitting TIARA.

Why don't you just build a new feed? You can, if you wish to, and have capacity and budget internally! And usually it is the recommended path, but the trends we are seeing across the industry are of stretched IT departments and budgets having to focus on the more important regulatory outputs.