FATCA-CRS compliance flow for Tide app
B2B Fintech App | 4 Weeks
FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) are international compliance rules that require banks to report account details of customers with ties to the US.
Tide needed a secure and simple way to collect this info from users and share it with the US tax authorities while staying compliant.
Project objectives
Ensure full compliance with FATCA-CRS regulations by collecting relevant data from Tide users.
Create a simple, user-friendly flow that minimizes confusion and helps users understand the importance of their responses.
Maintain a secure and confidential environment for users to provide sensitive information.
Understanding the problem
Tide must gather data on whether customers or any of their company’s shareholders have ties to US-based businesses. Many of our users are small business owners with limited knowledge of tax compliance, so the challenge was to create an experience that guides users through the FATCA-CRS process without overwhelming them.
My role
As a Product Designer at Tide, a UK-based fintech company providing business-to-business current accounts, I was tasked with developing a feature that would allow Tide to comply with the FATCA-CRS requirements.
Research
Through internal discussions with the compliance team and interviews with a small group of Tide business users, I gained the following insights:
Key insights from research
User Concerns
Many users are not familiar with FATCA or CRS, so clear explanations are necessary.
Information Overload
Presenting too much information at once leads to user anxiety and confusion.
Trust and Security
Users are highly concerned about sharing sensitive shareholder data, particularly with US tax authorities.
Challenges
Clarity
How do we explain FATCA and CRS regulations without overwhelming users with legal jargon?
Ease of Use
How do we make the process as straightforward and quick as possible?
Trust
How do we ensure users feel confident in sharing sensitive information?
User flow mapping
I started by mapping out the entire user journey, from the point where users first encounter the FATCA-CRS request to the completion of the flow. Key moments included:
Introduction and explanation of FATCA and CRS.
Asking users if they or any shareholders have ties to the US.
Gathering detailed information if the user answers “yes.”
Providing a review screen for users to confirm their data before submission.
Interactive prototype
Final design
Account screen
Profile screen
FATCA - CRS Intro
US person
Shareholder's SSN
Shareholder's details
Review details
US company
EIN number
Review details
Terms & Conditions
Details submitted!
Testing & Validation
I conducted usability tests with 10 Tide business account users who were unfamiliar with FATCA and CRS and found out some interesting facts about design.
Simplicity
Users appreciated the step-by-step process and found the language clear and non-threatening.
Security Messaging
The emphasis on data security helped build trust and reduced user hesitancy.
Minor Adjustments
Some users suggested simplifying a few questions, which led to small iterations in the wording.
Final outcome
The FATCA-CRS flow was rolled out to all Tide business users, and feedback was overwhelmingly positive. The design helped streamline the compliance process while maintaining user trust.
80%
Of users who started the flow completed
72%
Support tickets dropped for FATCA-CRS
87%
Satisfaction rate Post-interaction surveys
Learnings & Next steps
This project taught me the importance of balancing regulatory requirements with user-centered design. By focusing on clear communication, simplicity, and trust-building, I was able to create a feature that met both business and user needs.
Moving forward, we plan to continue iterating based on user feedback and explore ways to further streamline compliance processes in the app.
This Project highlights how thoughtful design can turn a potentially stressful regulatory requirement into a seamless user experience.
Selected Work
