Automating FATCA Reporting with Enterprise Application Automation
Want to see how other industry leaders are achieving measurable ROI with Roomie’s Enterprise AI?
Want to see how other industry leaders are achieving measurable ROI with Roomie’s Enterprise AI?
Citi, one of the world’s largest financial institutions, faced the complex and highly regulated requirement of reporting under the Foreign Account Tax Compliance Act (FATCA) to the U.S. IRS through Mexico’s SAT.
Historically, this process was handled manually by operations teams, which created significant pain points:
Inefficient Lead Times: Manual preparation, validation, and communication with SAT extended cycles and delayed compliance reporting.
Regulatory Pressure: Failure to deliver accurate and timely reports could expose Citi to penalties, reputational damage, and compliance risks.
Roomie deployed its Enterprise Application Automation module, powered by agentic AI, to automate FATCA reporting from end-to-end.
AI Agents connected seamlessly with ERP, Core Banking, and Data Warehouse systems to extract required client data.
Using Retrieval-Augmented Generation (RAG), the agent validated information against complex FATCA business rules and compliance standards.
Once validated, the AI Agent automatically generated and submitted reports to the SAT, ensuring alignment with IRS requirements.
End-to-end encryption, strict access control, and compliance with ISO27000 and ISO20000 certifications guaranteed data privacy and regulatory-grade security.
By automating the FATCA reporting process, Citi achieved measurable business and compliance outcomes:
99% Reduction in Human Error: AI-driven validation eliminated manual mistakes, ensuring accurate submissions.
80% Faster Lead Times: Report generation and SAT submissions were reduced from weeks to hours, speeding regulatory interactions.
Enhanced Security & Data Privacy: Sensitive client information was handled under certified AI governance frameworks, reducing exposure risks.
Regulatory Confidence: Continuous compliance monitoring reduced audit friction with SAT and IRS, minimizing penalty risks.
Operational Cost Savings: By reducing reliance on manual teams, Citi lowered reporting costs while reallocating talent to higher-value activities.
Through Roomie’s Enterprise Application Automation module, Citi transformed a complex, error-prone, and time-consuming regulatory process into a real-time, secure, and scalable operation. The result was not just efficiency, but a quantifiable ROI across human error reduction, accelerated compliance timelines, and stronger data governance.
This case proves that with ROI-First Enterprise AI, even the most sensitive compliance processes can become faster, safer, and more cost-effective.