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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.

Features

  • Automated API-based data collection and aggregation
  • Manual data upload via Excel files
  • Data collection from multiple information systems for each report
  • Data validation and automated report submission to TIES
  • Graphical User interface for process monitoring
  • Automated reports on foreign national accounts (FATCA, CRS)

Benefits

  • Fit for your workflow - with added functionality to collect data from multiple platforms or manually upload information
  • 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 with reports on foreign national accounts
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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 the following reports:

  • Daily open/closed report (MMR-SASK)
  • Annual account turnover report (MAI55-SIPL)
  • Annual account balance report (MAI55-SLIK)
  • Annual Foreign Account Tax Compliance Act report (FATCA)
  • Annual Common Reporting Standard report (CRS)
  • Quarterly Central Electronic System of Payment Information report (CESOP) – Available Q4, 2023
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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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