Welcome at Banking Concepts AG. Since more than 20 years, we are an independent management consulting company for banks and financial service providers.
Our consulting activities are focusing on:
- Client taxation, client tax reporting and tax compliance
- Tax regulations (Withholding Tax, FATCA, AIA/OECD-CRS, US-QI, 871m, EUSD, etc.)
- Regulatory requirements (MIFID / FinSA, AML/VSB, PSD2 / Open Banking UK, RVB Accounting rules, etc.)
- Migration of core banking systems as well as making systems ready for transnational deployment (Avaloq, Olympic, etc.)
- End-to-end process analysis from a regulatory compliance point of view as well as cost management, including documentation and support for technical implementation
- Testing concepts, test case description, testing management and test execution
- Definition of requirements for modularization and company-wide standardized product and service catalogues, including price model conception
Additionally for German tax calculation and tax reporting (annual tax certificate, consolidated earnings statement) we cover the topic of WM-data (financial instrument information by WERTPAPIER-MITTEILUNGEN, Keppler, Lehrmann GmbH & Co. KG) with a comprehensive rule set to classify financial instruments, income data, corporate actions and investment fund data.
We are supporting your implementation by analysing the impact on your business model, defining respective requirements and IT specifications as well as supporting testing and quality assurance. Important for us is an ongoing knowledge transfer in order to enable your employees to get familiar with changes and to act on a compliant basis.
Our consultants have long time experiences in Financial Industry, Compliance, Auditing, Tax as well as setting up and carrying out respective trainings. Banking Concepts supports you in your home market as well as abroad. Our client reference list as well as several use cases you can find here.
by Luigi Benincasa
Anti money laundering as of 1.1.2023
The revised Anti-Money Laundering Act extends the requirements for verifying the identity of beneficial owners and stipulates the obligation to periodically review client documentation to ensure that it is up to date and to renew it, if necessary. The determination of the periodicity based on adequate risk criteria is a key element.
by Lugi Benincasa/Michael Steiner
Spanish Financial Transaction Tax
Spain decided to introduce a Financial Transaction Tax by January 16, 2021. There are various country specific topics to be considered, while the experience with the FTTs in France and Italy will provide some orientation.