Vega Technology has announced the launch of the latest version of its TDE (Tax Data Exchange) platform, now refined to meet the diverse reporting needs of financial services businesses of all sizes across the globe.
The latest TDE solution supports FATCA and CRS reporting required for Automatic Exchange of Information (AEOI) compliance, with three flexible service options to suit businesses from small firms to large enterprises.
Originally launched in 2015, TDE has generated thousands of XML report files for submission directly or indirectly to tax authorities worldwide. The updated platform offers clients a choice between TDE Enterprise and TDE Essentials, both created with a focus on flexibility, accuracy, and ease of use. TDE Enterprise is available as a Platform as a Service (PaaS) model hosted via Microsoft Azure, or as an On-premise option. For businesses with smaller reporting needs, Vega has introduced TDE Essentials, a Software as a Service (SaaS) version hosted by Vega, ensuring a reliable and streamlined solution for essential reporting functions.
“This development of TDE reflects our ongoing commitment to our clients” said David Collings, Vega Technology’s MD. “We engage in open dialogue with them, and the wider financial services community, to understand their unique needs and priorities. This feedback is key in our development process and has resulted in the introduction of the Essentials option, which provides smaller firms with a precise, affordable solution that meets their reporting obligations without compromising on quality.”
Client preference is also behind, TDE’s support of both Cloud-based and On-premise configurations. “Unlike many in the market, we recognise that clients value flexibility,” Collins continued. “While some clients prefer the efficiency of cloud solutions, others require an on-site deployment for enhanced control over data management. By offering both TDE Enterprise for on-prem and Azure hosting, as well as TDE Essentials as a cloud-hosted SaaS option, we are ensuring that our clients can choose the best fit for their business needs.”
With clients in over 20 jurisdictions worldwide, TDE continues to be an essential tool in Vega’s suite of FinTech and RegTech solutions, supporting banks and fiduciaries, fund administrators and pension providers of all sizes in meeting FATCA and CRS requirements efficiently.