Announcing Version 2 of German Tax Engine

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We’re happy to announce the upcoming release of version 2 of our German Flat Withholding Tax software. The standout feature of this new release is the extension of the solution to include support for a variety of securities and treasury products.

Erik Bogaerts, CEO, commented: “So far our solution was mainly focused on cash based products and mutual funds. The fact that we started with mutual funds, one of the more complex securities products to calculate withholding tax for, paves the way for an easier extension to supporting other types of securities. Following our recent opening of an office in Germany, we see exciting and strong opportunities for this new version of our software. It will be of great value to new and existing clients alike.”

Version 2 is scheduled for release mid-summer 2013.

Naqoda launches German subsidiary

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Naqoda Ltd, a provider of software solutions and services to the financial industry, today announced the formation of Naqoda GmbH, a new subsidiary based in Frankfurt, Germany.

Erik Bogaerts, CEO, commented: “Germany is a key market for Naqoda and our German Flat Withholding Tax Engine. We’ve always believed that proximity to our customers and partners is key in continuing to build our market presence in Germany.”

The new launch follows a year of active and successful prospecting in the German market.

Flexibility is killing

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Over the last couple of years I’ve had the opportunity to look at a variety of core banking solutions. What strikes me is that more and more these solutions are similar, not only in coverage – which we can assume they have to be to support the variety of banking functions needed – but also in construct. Service oriented architecture, frameworks, agile development, multi-tier architecture, enterprise architecture approach, etc are the main buzzwords. Also it seems that the focus is placed less on the banking functions themselves – as most solutions present similar coverage – but more on the flexibility of the solution.
This must be good news for bank CIO’s, right?
Well unfortunately, not really …
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Release 1.2.1

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Version 1.2.1 of the German TaxEngine has now been released. This release includes the following changes and fixes:
* Changed calculation method to treat customer changes before transactions on the same value date (193466)
* New correction method to correct tax indicator in the past (193466)

For a complete version history please click here.