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STI Connector

Inventi STI Connector provides integration with the State Tax Inspectorate of the Republic of Lithuania

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Resolute Regulatory Compliance

Inventi STI Connector integrates any client core banking technology with the TIES system owned by State Tax Inspectorate (STI) of the Republic of Lithuania (liet. Valstybinė mokesčių inspekcija, VMI). This enables STI Connector clients to easily and accurately report information to STI that is mandatory for regulatory compliance.

The STI Connector is designed to simplify the reporting process, providing clients with the ability to integrate directly using an API or submit the data manually using Excel. It provides a dedicated GUI where users can trigger report submission, review status and manage errors.

The entire system is continuously maintained by Inventi to ensure hassle-free integration with STI TIES system and guarantee client compliance.

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Our mission is to empower and provide a helping hand for growth to financial institutions, from startups to corporations, by providing a modern and scalable SaaS solution that simplifies and streamlines compliance with STI regulatory reporting requirements.

Features

  • Automated API-based data collection and aggregation
  • Manual data upload via Excel
  • Data validation and automated report submission to TIES
  • Graphical User Interface for process monitoring & management
  • Data correction functionality

Benefits

  • Fit for your workflow - automated or manual information provision
  • Regulatory compliance with a peace of mind
  • Continuous Connector updates to stay in-tune with TIES platform updates and new regulatory reporting requirements
  • Simple to stay compliant
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Reporting Automation

STI Connector includes dedicated graphic user interface that enables both API integrated or manual report submission, status overview and error handling.

STI Connector currently supports all the mandatory financial institution report to STI with the following:

  • Daily open/closed report (MMR-SASK)
  • Annual account turnover report (MAI55-SIPL)
  • Annual account balance report (MAI55-SLIK)
  • Annual account debt report (MAI55-SKIS)
  • Annual Foreign Account Tax Compliance Act report (FATCA)
  • Annual Common Reporting Standard report (CRS)
  • Quarterly Central Electronic System of Payment Information report (CESOP)

In addition, STI Connector also provides the functionality to conduct mandatory data corrections based on feedback for complete compliance. Access to prior submission data, extensive validations and automated submissions ensure easy and cost effective management of information corrections and a smooth compliance process for financial institutions.

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Revolut aims to provide its clients with fast and quality solutions – we expect the same efficiency from our partners too. Collaborating with inventi helped us streamline the State Tax (VMI) integration process, accelerating our further service development.

Raimondas Berniūnas,

CRO at Revolut

Executive Summary

  • Ensures integration with STI - core part for any fintech operations.
  • Already in-use by multiple financial institutions.
  • Significantly reduces new platform time-to-market.
  • Secures operational regulatory compliance.
  • Reduces human oversight required for reporting.
  • Reporting workflows fit for your organziation.
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