RAQUEST establishes strategic partnership with Bolzano-based PRADER BANK
Raubling, Germany. May 04, 2022. German fintech RAQUEST has established a strategic partnership with South Tyrolean PRADER BANK. RAQUEST is the leading software for relief at source and reclaim of foreign withholding taxes. The cooperation is aimed to conquer the Italian market and thus boost RAQUEST’s further internationalization.
With Italian PRADER BANK, RAQUEST GmbH has won a strategically valuable partner in its ongoing quest for further internationalization. PRADER BANK is a private bank with headquarters in Bolzano and further locations in Trento and Verona. Thanks to its extensive regional and national network in the Italian financial sector, PRADER BANK constitutes an important ally for RAQUEST’s market entry in Italy. Alexander Lerch, CEO of RAQUEST, comments:
“Italy is a strategically important market in RAQUEST’s ongoing internationalization initiative. To further push our goal, it was important for us to find a competent partner who supports us with market expertise and a broad network. Therefore, I am very pleased that we are now entering into a promising partnership with PRADER BANK. We aim to establish automated withholding tax processing with RAQUEST in the Italian banking industry by 2025 – it certainly has the potential.”
Josef Prader, Founder and Managing Director of PRADER BANK, adds: “The issue of withholding taxes is very important for Italian banks, as domestic investors hold many high-dividend securities abroad and are thus directly burdened with withholding taxes. Therefore, it is worthwhile for banks to reclaim withholding taxes for their investors. This increases the banks’ service quality and the investors’ return – a classic win-win situation. However, processing withholding tax refunds manually makes little sense for banks. Therefore, RAQUEST’s software solution, which automates this very bureaucratic process, convinced us from the beginning. We look forward to supporting RAQUEST’s continued growth in the Italian banking market as a strategic partner.”
About RAQUEST GmbH
RAQUEST is a subsidiary of Halvotec Information Services GmbH, based in the Bavarian town of Raubling. As the market leader in withholding tax solutions, RAQUEST offers banks a simple way for relief at source and reclaim of foreign withholding taxes 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. RAQUEST’s customers include well-known German and international custodian banks. For more information on RAQUEST GmbH, please visit www.raquest.de/en.
About PRADER BANK AG
PRADER BANK AG is an Italian private bank based in Bolzano. It is the only bank in Italy to offer independent, ISO-certified financial advice and, through its Family Office, solutions for all assets at an international level. PRADER BANK is characterized by an extensive regional and national network in the Italian banking and financial sector. For more information please visit www.praderbank.com.