Novus FATCA CRS Compliance Reviews & Product Details

Overview: Novus Compliance is a RegTech platform that simplifies FATCA and CRS reporting for banks, funds, trusts, and other financial institutions. Built by Binari Software with 12+ years in IT and cybersecurity, it converts sensitive client data into audit-ready XML reports through a secure, automated workflow. The solution eliminates manual spreadsheet errors and ensures first-time acceptance by tax authorities. Key Features: • FATCA Model 1 & 2: Supports direct IRS filing (Model 2) and local tax authority reporting (Model 1) with compliant XML schemas. • CRS Reporting: Generates OECD CRS XML v3.0 files for 100+ participating jurisdictions, including multi-tax residency logic and corrected filings. • Automated XML Generation: Converts Excel/CSV data into fully compliant FATCA (v2.0.1) and CRS (v3.0) XML payloads. • Built-in Validation: Cross-checks TINs, GIINs, missing fields, and schema rules before filing to prevent rejection. • IRS IDES Transmission: Handles XML compression, AES-256 encryption, and IRS Public Key Certificate packaging for secure submission. • GIIN Verification: Instantly validates reporting status against current IRS records. • Multi-Jurisdiction Support: Manages separate XML files for different tax authorities and reporting models. • Audit Trail: Provides step-by-step visibility into data processing and filing status. Security & Compliance: • AES-256 encryption at rest and in transit. • IRS Registered Transmitter authorized for third-party transmission. • Strict data isolation and access controls; data never sold or shared. • Full auditability for compliance officers. Target Audience: Banks, mutual funds, insurance companies, custodial institutions, private trusts, and non-financial entities with FATCA/CRS obligations. Why Choose Novus Compliance: • 12+ years of cybersecurity and system architecture expertise. • Zero-error tolerance with validation designed for first-time acceptance. • Democratized compliance: robust encryption with an intuitive interface. • Scalable pricing based on filing volume; no hidden fees for standard schema updates.

Seller

Binari Software

Discussions

Novus FATCA CRS Compliance Community

Overview by

Deepak Singh (Founder, CEO @ Binari Software | Novus Compliance | FATCA, CRS, Web, Security, Deep Learning, WebRTC, Electron JS)

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Computer Software

Small-Business (50 or fewer emp.)

10/13/2026

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"The Easiest Way to Handle FATCA & CRS XML Reporting Seamless Excel-to-XML Compliance"

5/5

What do you like best about Novus FATCA CRS Compliance?

The most helpful aspect of Novus FATCA CRS Compliance is how seamlessly it converts standard Excel spreadsheets into fully compliant XML files.

The biggest upsides include:

Automated XML Generation: It eliminates the need for technical expertise or manual coding.

Built-in Validation: It acts as a firewall, automatically flagging missing TINs, invalid formats, or schema errors before you submit, which prevents frustrating portal rejections.

Multi-Jurisdictional Support: It handles both IRS (FATCA) and OECD (CRS) standards—including specific local rules—in one unified platform.

Massive Time Savings: It turns a highly technical, high-risk compliance task into a straightforward workflow, saving hours of manual data manipulation. Review collected by and hosted on G2.com.

What do you dislike about Novus FATCA CRS Compliance?

The validation engine is extremely strict. If your source data in the Excel template has inconsistencies, the system will flag all of them. It forces you to clean up your data, which is ultimately a positive, but the initial data prep can be time-consuming. Review collected by and hosted on G2.com.

What problems is Novus FATCA CRS Compliance solving and how is that benefiting you?

Manually converting financial data into complex XML formats and dealing with tax portal rejections due to formatting errors. But Novus automates the entire XML generation process and strictly validates the data beforehand. This saves us hours of manual work, guarantees our files are accepted the first time, and keeps us compliant without needing a dedicated IT team. Review collected by and hosted on G2.com.