Compliance

Information gathering for compliance is a complex challenge
for which there is a turnkey solution

Information gathering for compliance is a recurring responsibility, regulations are ever expanding and managers are being held criminally liable for accuracy and completeness of information. Current information gathering processes for compliance are error prone, time-consuming, operationally complex, and costly. These ongoing and overlapping requests are intrusive to clients, interrupt normal business operations, and constrain growth.

Industry Challenge

Companies exchange information with their customers, peers and vendors for regulatory compliance and business intelligence.

Information gathering is a legal requirement, with severe penalties for non-compliance; it is complex, introduces latency, and can constrain business. Repetitive and disjointed outreach annoys customers, and results in costly inefficiencies and uncoordinated data silos throughout your organisation.

Regulators are up in arms over data quality and lack of sufficient remedial progress. Fines are in the billions of dollars, and bank officers are being required to attest under penalty of perjury that the appropriate data has been collected and verified.

Under the current industry model, this problem is not going away, and will continue to get worse with expanding requirements from regulators across the globe.

Envisioning the Future

Consider an environment where customers and partners self-maintain their information, and industry peers share data and collaborate on information gathering.

For new regulatory mandates the process and information requirements are prescribed and pre-approved by regulators, and client outreach and response management is managed for you, providing de-facto compliance.

Customers and partners are automatically notified to refresh only relevant aspects of their information required by additional or recurring regulatory mandates.

Information exchanges are coordinated and standardised, requiring less manual effort and time to collate. Consolidating customer information from selected data silos within your organisation into a central repository eliminates redundancies across multiple points in your business.

Regulatory compliance and information gathering operations become assets to grow your business, instead of a burden.


FATCA

Manage compliance while enriching your customer relationships.

Core to FATCA compliance is the efficient collection, validation and reporting of up-to-date, proprietary client information. If you get this right, you'll have a well-run FATCA program. If you get it wrong, your FATCA program can quickly nosedive into a remediation program. Learn how Strevus can help you turn FATCA into a competitive advantage with a client-driven approach that eases the path to compliance, minimizes costs and improves customer satisfaction.

To learn more, read our FATCA whitepaper - Turning FATCA into a Competitive Advantage with a Relationship-based Program.

Get prepared. Get compliant.

FATCA aims to stop Americans from using offshore accounts to evade tax by requiring foreign financial institutions to report information about financial accounts held by U.S. taxpayers. However, it is not simply a U.S. regulation. It applies worldwide and assumes all customers are U.S. taxpayers until the customers have certified under penalties of perjury that they are not.

For an industry already dealing with mounting regulatory pressures, FATCA presents yet another outreach and data management burden. Current approaches to client due diligence (CDD) and data management are disconnected, expensive and difficult to manage. Plus, asking clients repeatedly for the same information is damaging relationships.

Strevus' secure regulatory compliance and risk management solution offers an easy, cost-effective way to systematically collect customer information, then validate, report and provision it to counterparties, clients and regulatory agencies.

With our managed service, you can quickly and predictably achieve regulatory compliance, while driving long-term customer satisfaction and business growth, even as requirements evolve amidst the tsunami of new regulations.

The Strevus solution offers:

  • Centralized access to all client-related information assets – simplifies document management and data oversight, from onboarding new entities and CDD, to periodic reviews.
  • Persistent communication link – provides secure information rights management for all compliance-related information exchanges, eliminating data duplicity and empowering the client with communication authoring and management.
  • Audit trail – enables regulators, the institution and the client to reliably evidence every transaction within the outreach campaign and review past data at any time.
  • Flexible policy and process configuration – enables institutions to easily add clients and new regulatory data/documents as needs grow and evolve.
  • Easy integration with other compliance systems and applications – ensures a speedy ramp-up and supports ability to reliably meet deadlines.

Download our whitepaper to learn more about how you can turn client outreach and regulatory compliance into competitive advantage.

Key FATCA Implementation Dates 1

A last-minute approach to a program that requires iterative customer outreach, combined with status quo data management solutions, is woefully impractical.

Activity Deadline
FFI Registration
FATCA portal opened August 2013
GIINs begin to be assigned February 2014 2
Last date to register with the IRS to ensure inclusion on June 2014 FFI listing April 25, 2014
Electronic posting of FFI List June 2, 2014
Updating of FFI list Monthly
Responsible Officer Certifications
Certification regarding assistance of account holders in avoiding FATCA By August 29, 2016
Account review certification* By August 29, 2016
Certification regarding internal controls By December 31, 2017, then every three years
*This attestation is for the following regulatory milestones:
CCD Complete for Prima Facie FFIs December 31, 2014
Complete due diligence for high value individual accounts (individuals >= $1M) June 30, 2015
Complete due diligence for all remaining accounts (individuals and entities) June 30, 2016

1 Reporting and Withholding deadlines are deliberately omitted to highlight the importance of the Responsible Officer Attestations and crucially, the pre-requisite customer outreach.

2 Deadline was technically January 2014, but none were actually issued in January.

Solutions

Improve your time to compliance and achieve data confidence

Our solutions enable a future of customer self-maintenance, industry collaboration and coordination. Rich customer views are achieved through integration with commercial data sources and third party managed services and tools. Providing you with central control and monitoring, our platform allows for end-to-end audit, monitoring and reporting both on the progress of your information gathering as well as the data itself.

The Strevus solutions combine professional advisory and innovative technology. All services can be delivered independently or in combination. Our current offerings include the following modules:

Client Outreach

Strevus provides flexible information gathering solutions, which when bundled with our partners, provide companies a turnkey offering to manage client outreach and response.

The Strevus client outreach module provides a single interface through which to request client and partner information via digital user interfaces. Structured client outreach campaigns are centrally automated and monitored with analytics that verify and validate individual contributions, and metrics that track improvements of data quality and provenance (who changed what and when) over time.

The module allows for multiple information gathering initiatives to be consolidated into a single information request package, thereby reducing multiple uncoordinated information requests that create client annoyance and resistance. All third parties in your information supply chain are enabled and encouraged to self-maintain their information, and will automatically be alerted to do so whenever there are recurring requirements.

Through the use of our integrated system with full reporting and management controls you will be assured of a comprehensive view of your information gathering and data provision operations with real-time status reporting, auditability and predictability.



Managed Data Service

This service module consolidates feeds from commercial vendors and public sources of content to validate, benchmark, and enrich your data for your different applications.

This is a managed service where Strevus will manage the vendor interfaces and integrate these with your existing systems. Working with our partners to provide a turnkey clean, normalized and managed feed



Industry Collaboration

Extending our managed solutions, Strevus provides a commercial, governance and technology platform to facilitate industry collaboration across regulatory processes, data requirements, customer outreach and industry intelligence.

Changes in data requirements and processes required by regulatory mandates are coordinated across banks, their customers and partners, working with regulators to establish prescribed regulator approved data and process to provide customers with de facto compliance.

The platform allows for consolidation of information gathering efforts at an industry level providing greater efficiencies and confidence through verification of information across multiple sources.



Data Management Mentoring

Developing in-house data management expertise is as important for your success as implementing a data management solution.

Strevus' professional services begin by undertaking an analysis of your organisation's data gathering processes and data management systems to identify and prioritise critical data management issues to address within your organisation and information supply chain.

These Strevus service professionals are each fully qualified with many years of experience across the spectrum of creating and implementing enterprise reference data solutions, from requirements gathering, through production rollout, to ongoing maintenance.

They will work alongside and engage your internal resources to improve their level of technical and architectural proficiency, mentoring them until they are self-sufficient. The benefit for your business is an in-house team with self-assured data management agility and expertise.


Partners

Partners are an important part of the Strevus eco-system

Strevus connects companies allowing them to enhance their individual and combined value propositions through working together better. Our collaborative data solutions allow peers and partners to collaborate around mutually enriched shared assets, processes, and strategies in a secure and reliable way. Strevus works with best-of-breed industry partners to enhance its ecosystem of content and solutions, including managed services, data providers, solutions developers, and industry subject matter experts.

Current Partners

Avox provides its entity data service to customers through the Strevus platform

First Derivatives provides managed client response solutions to customers leveraging the Strevus platform


Avox, a wholly-owned subsidiary of DTCC (The Depository Trust & Clearing Corporation), was founded several years ago in cooperation with several financial institutions that required a more efficient mechanism for improving data quality and timeliness.

Avox validates, corrects, enriches and maintains business entity reference data. This includes data such as corporate hierarchies, registered address information, industry sector codes and company identifiers. The Avox operational model is unique in the industry. Its success stems from the continuous enhancement and customization programs in place for each client. Financial institutions participating in Avox form a Community that collectively addresses poor client, issuer and counterparty data quality. The Community participants, which include some of the largest banks and asset managers in the world, both contribute and subscribe to a shared pool of data, processes and resources.

First Derivatives was incorporated in 1996, and is headquartered in Newry, Northern Ireland. It is a publicly held company, trading on the London Stock (LSE FDP.L) and Irish Stock (IEX:GYQ.I) Exchanges.

First Derivatives is a leading provider of products and consulting services to the capital markets industry. Focused on financial institutions that work cross-asset, often with multi-system and/or high volume trading activities, the Company scopes, designs, develops, implements and supports a broad range of mission critical data and trading systems across front, middle and back-office operations. The Company holds a niche market position in terms of domain knowledge of capital market asset classes (equities, fixed income, foreign exchange, commodities, etc), as well as expertise in leading financial services systems (such as Calypso, Murex, Opics, Summit, Principia, Opus, Wall Street, kdb+, etc).


Announcements

View the latest Strevus press releases, news articles, and upcoming events


Upcoming Events

Check back soon for upcoming events

Past Events

  • FIMA | Boston | March 24-26, 2014
  • Tackling FATCA challenges | A-Team Webinar | December 10, 2013
  • FIMA | London | November 6-7, 2013
  • Become FATCA ready now! | New York | June 20, 2013
  • FATCA coming, ready or not! | London | June 12, 2013

About

Strevus is a technology company serving capital markets
with professional advisory and innovative software services.

Our vision and technologies have been developed on the fundamental principles of co-existence and collective-thinking respectively. Our strategy is to enable new levels of collaboration with and between our partners and clients throughout the financial services industry. Beyond this our technologies enable any industries that share common information to integrate and consolidate business intelligence by collaborating around data and even business processes, allowing them to advance and innovate as a whole.

About the team

The Strevus founders are recognized industry experts in the area of information management for large enterprises, particularly in the area of master data management (MDM). Having pioneered the MDM space, designed and built the Informatica MDM product line, and led most of the Fortune and Global 100 MDM implementations, the Strevus team brings unsurpassed levels of technical depth and industry experience.

The Strevus professional services group specializes in MDM-focused enterprise data management engagements, and continues to lead successful projects in a wide variety of industries, including banking, insurance, manufacturing, pharmaceuticals and life sciences, entertainment and consumer products.

Each of the company's hand-picked professional services staff has led a minimum of five end-to-end enterprise data management implementations, and has worked with Informatica MDM and related technologies for at least seven years. All have advanced degrees in Computer Science from leading engineering schools.

Executive Team


Ken Hoang

CEO & Co-Founder

A veteran entrepreneur in the enterprise software market, Ken is a co-founder and CEO.

He was most recently the Chief Technology Officer for Data Quality and Master Data Management at Informatica.

Ken has consistently delivered positive returns for investors in his companies, having founded four successful companies that were acquired by larger companies in the enterprise software market: Verix, Skunk Technologies, Summit Interactive, and Siperian. Through Ken's leadership Siperian became the industry-standard MDM platform recognized as a leader by both Gartner and Forrester, before it was acquired by Informatica in January 2010.

LinkedIn profile

Jeff Sidell

CTO & Co-Founder

Specializing in master data management, data semantics and systems design, Jeff is a co-founder and CTO.

As Chief Scientist at Siperian, Jeff was responsible for pioneering new markets and solution areas for the Siperian MDM platform, such as financial instruments, genomics and unstructured data. Jeff has established a reputation as an authority on Master Data Management, and is an industry leader in number of successful MDM implementations across industries and data domains at Siperian and the Sidell Group.

Jeff started programming in 1977 and has been designing and implementing enterprise software for over 25 years. He started his first company, Cohera, after receiving his doctorate. Jeff is a serial entrepreneur, and held senior engineering roles at MedChannel, Accordus, and Enkata Technologies prior to Siperian.

LinkedIn profile

Ken Price

VP of Sales

With a proven track record of growing business in capital markets, and an industry leader in entity data, Ken is VP Sales.

In 2002, Ken founded Avox, a company that became the global leader in the management of business entity content for risk and compliance at major financial institutions. Eight years after its inception, Avox was acquired by the Depository Trust and Clearing Corporation.

Prior to that Ken held the position of GM for Algorithmics in London, where he drove significant growth of the company's business in Europe, Middle East, Africa and Asia. He also served as President of Cicada Software, and was VP of Global Sales at the derivative pricing software company Monis.

LinkedIn profile

Greg Danforth

Chief Architect & Co-Founder

Experienced Architect and Engineering Lead, Greg is a co-founder and Chief Architect.

Greg was most recently Principal Architect at Siperian which was acquired by Informatica, where he focused on the design and implementation of Siperian MDM.

His work experience includes consumer PC applications, manufacturing process control, internet advertising networks, data analysis and visualization, and leading development teams. Greg leverages his natural aptitude for computers to always stay ahead of his game and provide turnkey solutions to his clients

LinkedIn profile

John Bliss, Esq

Chief Compliance Officer

Innovative professional working at the intersection of law, policy, privacy and technology in both the private sector and federal government, John Bliss is Chief Compliance Officer.

John’s broad expertise includes being part of a team that was Outside Counsel to the Enforcement Division for the NYSE for the year following the 1987 Stock Market Crash.

John was also President of the International Anti-Counterfeiting Coalition for over five years and was Minority Chief Counsel for the Technology and Law Subcommittee, U.S. Senate Judiciary Committee that included representation and special projects in connection with the Senate Foreign Relations Committee.

LinkedIn profile

Dmitri Korablev

VP of Engineering

A veteran of five successful startups, Dmitri is VP of Enginerring focusing on product strategy and development.

Prior to Strevus, Dmitri was a VP and General Manager of the Product Information Management business at Informatica. His previous roles at Informatica included leading the product strategy for Master Data Management and the Industry Solutions group focused on Financial Sector and Retail solutions. Before Informatica, Dmitri led Engineering and Architecture at Siperian, which was acquired by Informatica in 2010. At Siperian, Dmitri also held a number of critical development, product strategy and architecture positions and was responsible for introducing all of the new product offerings and the delivery of the Siperian MDM platform to strategic customers.

Dmitri has over 20 years of industry experience in data management, SaaS, data integration, enterprise security and telephony, working in the US and Europe.

LinkedIn profile

Jennifer Turcotte

VP of Marketing

Results-driven marketing executive specializing in product and corporate marketing at both early and late stage software companies, Jennifer Turcotte is VP of Marketing.

Jennifer has more than 18 years of experience in marketing having held senior product management and marketing roles at BEA, Ariba, Siperian, SAP, Complete Genomics and mostly recently at GuideSpark.

Jennifer has a proven track record of creating successful go-to-market campaigns, launching innovative products and developing successful brand awareness and demand generation programs that deliver measurable results.

LinkedIn profile

Ahmed Quadri

VP of Sales Consulting and Solutions

With expertise in enterprise sales, consulting and solutions development for SaaS, big data and data management companies, Ahmed is VP of Sales Consulting and Solutions.

Ahmed has spent the last 10 years building and leading world-class sales consulting and solutions teams for Salesforce.com, Informatica and Siperian. Ahmed started his career as a consultant with Andersen Consulting/Accenture, PwC and IBM.

Ahmed has a proven track record of successfully helping enterprise clients understand and develop solutions based on new technology concepts to best meet their strategic and tactical goals. At Strevus, he works with clients to help them understand and map how Strevus can address their business requirements, and also develop new solutions that Strevus can bring to market.

LinkedIn profile

Shaker Rawan

VP of Digital Asset Management

With management and leadership experience across the energy, financial services, retail, health & high tech sectors, Shaker is VP of Digital Asset Management.

Shaker is a strategic leader with strong financial and analytical skills, focused on achieving results through collaboration and superior execution.

Shaker ran TD Securities' Global Operations teams for Client Onboarding, AML, Security Data Management and Settlement Instructions. Prior to his role at TD, Shaker was a Management Consultant with Deloitte Consulting and has worked as CEO of Mango, a financial services company operating out of The Commonwealth of The Bahamas.

Jeremy Franzen

VP of Operations

With a varied background in IT and Operations supporting eCommerce, Online Logistics, and Marketing, Jeremy is VP of Operations.

Mostly recently Jeremy was Director of Technical Operations at TiVo, and as Staff Sargent in the United States Marine Corps.

For the last 20 years, Jeremy has built high performance technical teams that can react quickly to almost any technology change and have a great time building and maintaining environments around the world. His foundations for the environments are based on the ITIL V3 methodologies, with a reliance on information security and continuous service improvement.

LinkedIn profile

Board of Directors


Ken Hoang

Chairman

A veteran entrepreneur in the enterprise software market, Ken is also a co-founder and CEO of Strevus

Ken was most recently the Chief Technology Officer for Data Quality and Master Data Management at Informatica.

Ken has consistently delivered positive returns for investors in his companies, having founded four successful companies that were acquired by larger companies in the enterprise software market: Verix, Skunk Technologies, Summit Interactive, and Siperian. Through Ken's leadership Siperian became the industry-standard MDM platform recognized as a leader by both Gartner and Forrester, before it was acquired by Informatica in January 2010.

LinkedIn profile

Terry Garnett

Director

A veteran venture capital investor in technology start-ups.

Terry and partner David Helfrich formed Garnett & Helfrich Capital in 2003. He was also actively involved in forming and funding Crossworlds Software, whose founder and CEO was his wife Katrina Garnett. Crossworlds went public in 2000 and was acquired by IBM in 2001.

Prior to founding his own company, Terry spent eight years with Venrock Associates where he was an early investor in Siebel, Checkpoint Software, Niku, Neoforma, and Neon Software. Prior to Venrock, Terry reported to Larry Ellison at Oracle Corporation, where he was a member of the Executive Management Committee and served as Senior Vice President of Worldwide Marketing and Business Development.

LinkedIn profile

Darlene Mann

Director

Darlene brings with her over 25 years' worth of operating and investment experience.

Since 2008, she has provided executive advisory services to companies in the internet services and enterprise software segments.

Darlene was CEO of Siperian from 1996 to 2002. Prior to this she led the internet and software services practice at ONSET Ventures, also serving as a director for more than a dozen portfolio companies. Before ONSET, Darlene served in a variety of operating roles including Vice President of Sales and Marketing at Avantos Performance Systems, and Founding Vice President of Marketing at BroadVision, and held a number of senior product management positions with Verity, Paramount Communications and Lotus Development Corporation.

LinkedIn profile

Alan Naumann

Director

Alan brings with him executive management and software experience.

Alan is currently the CEO of 41st Parameter, a fraud detection and intervention company.

Alan has held key operational roles including CEO, vice president, sales executive and GM. His industry experience comprises internet commerce infrastructure, data integration and analytics, electronic design software, system virtualization and computer systems. Having started his career at Hewlett Packard, Alan has successfully held board and executive roles across several esteemed technology companies during his career, which include Siperian, Eklin Medical, CoWare, and Calico Commerce.

LinkedIn profile

David Blumberg

Director

David is an authority on early stage investing in IT companies with over 24 years of experience.

David is the Founder and Managing Partner of Blumberg Capital, an early-stage venture capital fund based in San Francisco. He previously managed international investments with the Bronfman Family Office, Adler & Co, APAX Partners and at T. Rowe Price. He also launched business development for Check Point Software Technologies as one of its top four executives.


Blumberg Capital funds innovation on a global basis with a focus on Digital Media, Social Media, Mobility, SaaS/Technology Enabled Services and Internet.

Advisory Board


Richard Gordon

Advisor

Richard brings with him extensive investment banking experience.

Richard is an MD at Deutsche Bank in London, where he is currently the Global Chief Operating Officer (COO) for Market Risk Management.

Richard has been with Deutsche Bank for 12 years, the last six of which have been in the Risk Division, where he has held a number of senior leadership roles, including COO for the Deputy Chief Risk Officer, and Global Head of Risk Operations. Before his employment at Deutsche Bank, Richard worked as a senior consultant for Capco and UBS, and he also served as a British Army Officer.

LinkedIn profile

Dale Richards

Advisor

Dale brings with him executive management and enterprise data experience.

Dale is currently President for North America and Head of Data Strategy for First Derivatives. He is also the MD of Island 20 Ventures, an information strategy advisory. He serves on the Board of BuzzData/LookBookHQ, a firm providing a cloud/social network-based content marketing platform.

Prior, he sat on the Board of the Reference Data Factory, and successfully held a number of executive positions in esteemed companies, including holding the role of CEO and Founder of LakeFront Data Ventures, Chief Data Officer, President of Enterprise Data Management and EVP Corp Development for SunGard, as well as CEO of FAME Information Services. Dale founded and was acting CEO of Benton Associates, a global software and data solutions and quantitative analytics company.

LinkedIn profile

Bill Unger

Advisor

A veteran venture capital investor in technology start-ups.

He advises privately held companies, including Strevus, Berkeley Design Automation, D2S, Socialvilla, Reveltouch, Tarana, Visualon and FirstRain.

Bill Unger joined Mayfield in 1984. He was an early investor in such industry leaders as Sandisk, Silicon Architects, Calico Commerce, nChip, Newport Communications, Simplex Solutions, Verplex Design Systems and Excess Bandwidth Corporation.

Bill devotes significant time to philanthropic activities, and currently serves as a board member of Samasource, CARE USA, The Anita Borg Institute for Women and Technology, and he is on the advisory board of the Dean of Engineering for the University of Illinois and the Global Heritage Fund.

LinkedIn profile

Sanjay Vaswani

Advisor

Sanjay Vaswani is the MD of CCI, which develops and conducts ongoing executive forums.

Sanjay is the MD of CCI, which develops and conducts ongoing executive forums limited to CEOs, Presidents, and senior executives of major technology and healthcare organizations across the US. Sanjay serves on the boards of Brocade Communications Systems, Blue Star Infotech, Interplast, Silicon Valley Community Foundation and SFJAZZ.

Prior to CCI, Sanjay was at McKinsey and Company, where he worked with companies in the electronics and healthcare industries. Before that, Sanjay was employed by Intel Corporation.

Peter Swire

Advisory Board Member

Peter is a recognized authority in privacy-related legal and regulatory matters, and how they apply to business and electronic communication.

He is currently a professor at Georgia Institute of Technology in the Scheller College of Business, and a Senior Fellow with the Future of Privacy Forum and the Center for American Progress, Policy Fellow with the Center for Democracy and Technology and co-chair of the Do Not Track standards process at the W3C.


Peter previously worked as: Special Assistant to President Obama for Economic Policy, under Lawrence Summers: Chief Counselor for Privacy during the Clinton Administration, where he coordinated the final HIPAA medical privacy rule, chaired the White House task force to update wiretap laws for the Internet age, and helped negotiate the Safe Harbor Agreement between the European Union and the United States; and, Professor of Law at the Ohio State University.

Peter has recently authored two books: "Foundations of Information Privacy and Data Protection: A Survey of Global Concepts, Laws, and Practices," and "U.S. Private Sector Privacy: Law and Practice for Information Privacy Professionals."

Stanley Young

Advisory Board Member

Stanley is a visionary leader in the field of technological businesses.

He currently serves on the Carnegie Mellon University's technology commercialization and holding company as well as on Clearmodel, an asset of Carnegie Innovations. He was most recently the CEO of Bloomberg Enterprise Products and Solutions.


Stanley has led several companies as CEO, including Bloomberg, ATOS Euronext, and NYSE Technologies. Throughout his 20 years in software products for the financial services industry, he has provided solutions for strategies pertaining to financial and operational leadership. Additionally, Stanley worked as Global Head of HP's Capital Markets Consulting and Integration business and prior to that as a Partner at Accenture.

Stanley is a competitive Tri-athlete who races for TriLife, a New York-based Triathlon endurance club. He supports and runs for the Achilles International, which empowers those with physical disabilities to participate in mainstream athletics.

 

Contact Offices
San Francisco (HQ)
20 California Street, Suite 720
San Francisco, CA 94111
USA

Tel
+1-415-704-8182

Email
info@strevus.com

New York
41 E 11th Street, 11th Floor
New York, NY 10003
USA


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