Finastra partners WTax to support asset management firms

Thursday 4 November 2021 10:53 CET | News

UK-based Finastra has announced its partnership up with WTax, a player in withholding tax recovery services, to support asset management firms in recovering withholding tax for their clients.

By introducing Fusion Invest customers to WTax, Finastra will help portfolio and investment managers to deliver net savings for end clients, recovering tax that has been levied on income from securities investments in territories where they are non-resident.

As representatives say, by outsourcing the withholding tax recovery process, asset managers are freed up from the onerous administrative process involved in reclaiming tax across multiple jurisdictions for clients. Since WTax operates on a ‘no win, no fee’ model, it only charges based on successful reclaims.

Available globally, WTax’s ISO 27001 compliant technology makes claims more efficient to process and more transparent for clients. Automating the claims process is faster and more effective and eliminates human error.

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Keywords: Finastra, partnership, regulation, financial services
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech

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