Use cases

It is often cheaper to use experience than to gain it
Henry Ford

Banking Concepts AG has a large wealth of experience which we have broken down into project task and country of execution in the following overview. Simply click on a project task to get additional information on the specific project. 

Use cases
  DE FR IT LU MC AT RU ES CH UK HK SG LI
Various projects German final taxation OK     OK         OK        
Implementation of MiFID II                         OK
Specification tax requirements OK   OK                    
Requirements management, core banking systems OK OK OK     OK OK OK OK OK      
FATCA                 OK OK OK OK  
Set-up of Accountancy on New Avaloq System                 OK        
Migration of Tax Lots OK                        
Tax Support for Private Bank OK                        
Financial Transaction Tax (FTT, France and Italy OK                        
Replacement of SPV’s Administrator OK                        
Implementation of „Industry Account Switching“                   OK      
Offshore Tax Treaties CH/UK and CH/AT           OK     OK OK      
WM Master Data for Self Declaration OK                        
EUSD implementation large banks OK   OK   OK       OK        
EUSD implementation, investment fund company       OK           OK      
RFP for outsourcing tax reporting, family office               OK          
Tax reporting market analysis and expert monitoring RFI OK OK               OK      
Inhouse tax seminar OK     OK   OK     OK        
Review international tax reporting OK   OK OK       OK   OK      
Manual German tax reporting                 OK        
Checking of tax reportings UHNWI OK                        
WM-data for tax reporting OK     OK         OK        
Overview requirements client taxation OK OK     OK OK OK     OK      
Swiss accounting rules for banks                 OK        
Payment Card Industry Data Security Standards (PCI/DSS)         OK       OK OK OK OK  
Automatic Exchange of Information / OECD-CRS – EU DAC2       OK   OK     OK        
US QI-Reporting und Extension („871(m)“)                 OK        
Debit- and Credit card Marker                   OK      
Mobile Payment solution                   OK      
Payment Services Directive 2 (PSD2)                   OK      

Various projects German final taxation

The implementation of the requirements of the German final taxation remains a big challenge for all financial service providers. In this area we were involved in the following projects:

  1. Complete business specification, core banking system Avaloq, for a foreign private bank in Frankfurt and various private banks in Switzerland, Liechtenstein and Luxembourg
  2. Business and IT-specification for client and security master data, core banking system Olympic, for a foreign private bank in Frankfurt
  3. Business specification in some subareas for a German transaction bank
  4. Testing strategy and test cases for onshore and offshore banks
  5. Test execution, core banking system Olympic
  6. Manual creation of consolidated earnings statements for 2009

Implementation of MiFID II

Implementation of MiFID II in the areas Product Governance and target markets

Specification tax requirements

Requirements specification for German client taxation (end-to-end) from 1999 – 2007, in the core banking system Olympic, for a foreign private bank in Frankfurt.

Requirements specification for Italian client taxation (end-to-end) from 2002 – 2007, in core banking system Olympic for a foreign private bank in Milan.

Requirements management taxation, core banking systems

Project management for client taxation in different European countries, among others in the core banking systems Avaloq and Olympic for various clients.

FATCA

Management of sub-project (business and IT) and business analysis for creation of a prototype for screening of clients. The customer is an international private bank with branches in several Asian and European countries. This „Pre Existing Account Review“ comprises of complex data base queries for client’s breakdown, a case management tool to process detailed client’s analysis and several components to ensure quality (e.g. plausibility).

Assessment of implementation and test concept of FATCA solution for a major international software company. 

Set-up of Accountancy on New Avaloq System

Analyses, definition and implementation of requirements for the accountancy for two Swiss retail banks. Setup of:

  1. balance sheet structure
  2. accountancy rules according both statutory and True & Fair requirements
  3. position keeping and valuation of bank’s own positions
  4. position keeping and valuation off balance sheet positions
  5. depreciation, accrual and deferral positions
  6. posting rules

Migration of Tax Lots

Definition, extraction and transfer of tax relevant data from Avaloq to OBS within a bank merger project. Set up of the rules and especially the field-mapping as base for the migration.

Tax Support for Private Bank

Functional support for the client’s tax department of a major German private bank for client’s and product’s taxes. 

Financial Transaction Tax (FTT, France and Italy)

Creation of the business specification including process organization for Italian FTT for a German bank acting as BPO-Provider. This included definition of differences towards French FTT and defining an integrated process for taxes for both countries. Manage implementation of reporting, payment, client’s booking – including corporate actions. 

Replacement of SPV's Administrator 

The Special Purpose Vehicle (SPV) was engaged in the USABCP market to gather liquidity for the principal. The Administrative Agent of the SPV had to be replaced within a tender procedure. Creation of decision criteria and rules together with the executive board of the principal. Processes were taken for all steps of issuing (dealers, investors, depository). Assessment of possible taxation in the US. Creation of tender documents, select bidders for long list, manage procedure till decision for one party.

Implementation of "Industry Account Switch"

IT project management for the implementation of the ‘Industry Account Switching’ service for a large UK based private banking unit. The Industry Account Switching service is a mandatory service especially for private clients and particular other clients to ease switching current accounts and related products to another bank within 7 working days.

Offshore Tax Treaties CH/UK and CH/AT

Business analyses, management of sub-projects and test management for a major Swiss bank

Support of several banks for the implementation of BearingPoint’s „Easy Tax“ including functional support on taxes.

WM Master Data for Self Declaration

Extension of the GE-Tax rule sets for determination and validation of WM-Data in order to support self declarations of German clients, for the years 1999-2012.

EUSD implementation, large bank

Business and IT-specification for the implementation of the requirements of the European Savings Directive (EUSD) in different European countries, core banking system Olympic, among others development of an alternative solution for tax calculation and reporting for Monaco and Switzerland.

EUSD implementation investment fund company

Business specification for the implementation of the requirements of the European Savings Directive (EUSD) for a leading international investment fund company, system: GP2/Sunguard and various add-on applications.

RFP for outsourcing tax reporting, family office

Coaching of RFP-process for a family office for UHNWI for a leading US investment bank. 

Tax reporting market analysis and expert monitoring RFI

Market research on providers of tax reporting solutions for various European countries on behalf of a large Swiss bank. Objective: multinational tax reporting for different countries out of Switzerland. 

Inhouse tax seminar

Planning and conducting of a tax seminar for a leading international investment fund company, education on different European tax laws on different sites across Europe. The client was awarded with the European Training Programme of the Year’ award in 2007 for organizing this seminar. 

Review international tax reporting

Review of a strategic solution for the implementation of tax reporting requirements of a large international bank with various on-shore booking centers. Issues: centralization vs. decentralization of tax reporting, outsourcing possibilities. 

Manual German tax reporting

Manual creation of consolidated earnings statements for high net-worth German clients of a Swiss private bank.

Checking of tax reportings UHNWI

Checking of tax documents for UHNWI’s of a large, leading German bank. 

WM-data for tax reporting

Development of tax categorization for financial instruments on behalf of a Swiss bank in Frankfurt. This development is the basis for the service GE-Tax, additional information you may find under WM-data.

Overview requirements client taxation

Analysis of local tax requirements for various European countries to estimate the required development and implementation effort for banks and software providers, in particular the identification of the country-specific relevant tax kinds and their calculation requirements. 

Swiss accounting rules for banks

Implementation of the new accounting rules for 2 retail banks in Switzerland on the Avaloq-system. Development of the business and implementation concepts, provisioning of banking expertise, data reconciliation including the development of the required tools, cut-over and test management.

Payment Card Industry Data Security Standards (PCI/DSS)

IT-project management, parametrization and data migration for the implementation of the ‘Payment Card Industry Data Security Standards’ (PCI/DSS) for a bank in the UK including the branches in Europe and Asia.

Automatic Exchange of Information / OECD-CRS – EU DAC2

Analysis of the impacts that the implementation of the Automatic Exchange of Information has on existing tax regulations like EUSD and final withholding taxes. Implementation support – definition of business requirements.

US QI-Reporting and Extension („871(m)“)

Business analysis for the implementation of the US QI regulation with respect to certain derivative instruments and structured products (“871(m)”) for a major Swiss bank. Definition of business requirements, especially with respect to tax calculation and client determination for a new in-house software solution.

Debit- and Credit card Marker

IT project management for the implementation of travel and spend markers on debit- and credit cards for the UK business unit of an international private bank.

Mobile Payment solution

IT project management for the implementation of a mobile payment solution for an international private bank.

Payment Services Directive 2 (PSD2)

Design of IT architecture and changes in the core banking solution for the implementation of the Payment Services Directive 2 at an international private bank.