RAQUEST and DIE SOFTWARE Objectway Group enter into strategic partnership
Raubling, Germany, April 21, 2022. The withholding tax fintech RAQUEST signs a strategic partnership agreement with DIE SOFTWARE Objectway Group. RAQUEST is the leading software for relief at source and reclaim of foreign withholding taxes and provides banks with an uncomplicated automated claiming process. As part of the partnership, the RAQUEST software will be directly linked to Objectway‘s core banking solutions OBS via a standard interface.
Every year, shareholders lose billions of euros in overpaid withholding tax to foreign tax authorities as dividends received from capital gains are subject to double taxation. Overpaid withholding tax is often not reclaimed because the process is bureaucratic and complex. The RAQUEST software offers financial institutions an easy, yet reliable way for relief at source and reclaim of withholding tax through automated digital processing. A service that both banks and shareholders significantly profit from.
Thanks to the partnership with DIE SOFTWARE Objectway Group, the withholding tax tool RAQUEST can now be directly connected to Objectway‘s core banking solutions OBS via a standard interface. This enables an end-2-end digitalized reclaim process, as data from the core banking system can be transferred directly to RAQUEST.
“We are delighted to have partnered with DIE SOFTWARE Objectway Group, a leading provider of core banking software in German-speaking Europe and part of the Global Top 100 fintech provider Objectway, to support financial institutions in their key challenges: customer centricity, end-to-end process digitization and profitability. The partnership offers significant added value for both parties, for banks and their end customers. By giving more customers access to automated withholding tax reclaim, in turn RAQUEST GmbH can strengthen its growth as well as its position as a market leader – a win-win for everyone involved,” said Alexander Lerch, CEO of RAQUEST GmbH.
“We are very pleased to partner closely with RAQUEST to the benefit of our customers. By connecting RAQUEST to our core banking solutions OBS via a standard interface, the withholding tax tool can automatically receive data from OBS. This gives us an end-2-end digitized processing of withholding taxes and together we make an important contribution to the digitization of backoffice operations. Banks that use our core banking solutions OBS can also offer their customers an important service for the after-tax performance with RAQUEST,” says Karl im Brahm, CEO of Die Software Objectway Group GmbH.
About RAQUEST GmbH
RAQUEST GmbH is a subsidiary of Halvotec Information Services GmbH, based in southern Germany. As the market leader in withholding tax solutions, RAQUEST offers banks a simple way for relief at source and reclaim of foreign withholding tax using highly automated processes. Furthermore, RAQUEST helps banks meet the changing demands in the digital transmission of tax-related data as it is required by an increasing number of countries. The RAQUEST software is already used by international custodian banks. Read more at www.raquest.de/en.
About DIE SOFTWARE Objectway Group GmbH
DIE SOFTWARE Objectway Group is one of the leading providers of overall banking software in German-speaking Europe and part of the Global Top 100 fintech provider Objectway that offers a digital end-to-end solution in Banking, Wealth & Asset Management. The new combined offering enables great synergy opportunities and maximize Die Software potential to bring Open Banking Industry to the next level. Read more at www.die-software.com/en/.