HSBC relies on RQuest software solution for the automated recovery of foreign withholding tax Rosenheim, February 16, 2011: already in June 2010 was the decision for the cooperation of between HSBC transaction services GmbH, the daughter of one of the largest banking companies in the world, with the medium-sized IT companies Halvotec information services GmbH. To automate the processing of foreign withholding tax, the HSBC introduces the innovative software solution RQuest of the Rosenheimer software company. The HSBC Group is one of the largest banking and financial services companies in the world with about 300,000 employees and approximately 8,000 offices in 87 countries. The German subsidiary of the HSBC Group is the HSBC Trinkaus group with HSBC transaction services GmbH, which is one of the leading service providers in the market for securities processing. HSBC transaction services GmbH received the status of the market leader in Germany and others through their use of most modern systems, a high degree of automation and high Safety standards made it possible. The prospect of even greater service orientation and cost-efficiency realized the HSBC transaction services GmbH in the software solution RQuest of the Rosenheimer IT-company Halvotec.
By using this system, the unique solution is offered them first automatically perform complex manual processes in the back office, which were necessary for the processing of foreign withholding taxes. RQuest imports data from existing source systems, takes over the entire application process, monitored the reimbursement of payments received on applications, Bay of refund payments and finally exported the data of the withdrawals. After an extensive examination of the software and the resulting potential for value creation was introduced already in 2010 by RQuest HSBC transaction services GmbH. Half a year later the software introduces now adapted to the individual requirements of the financial undertaking. In future, the resulting processes in the settlement are thus of Withholding taxes by RQuest largely automates and accelerates so that internal processes significantly improves workflow, and costs. More information on the software solution RQuest,