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February 01 | 2021

axeed AG and Noveras AG announce partnership and powerful new service for bank advisors

Zurich, 01.02.2021 - axeed AG ("axeed") and Noveras AG ("Noveras") have entered into a strategic partnership with the goal of expanding their cooperation in the development of innovative products for the financial industry. The two companies have now launched the new service "taxprevision", which for the first time provides a tax view of portfolios with overview of accrued taxes, capital gains, losses on the purchase, sale of securities, investments on a daily basis and at the push of a button. This will enable bank advisors to prepare tax-optimised investment analyses for their clients.

Axeed and Noveras share the same dedication of strong innovation and conviction that the use of digital solutions with artificial intelligence will drive transformation in banking and wealth management.

The first result of the deepened cooperation is the launch of "taxprevision", which enables banks to offer their clients a new digitised service that does not yet exist on the market in this extent.

At the touch of a button, based on the various international tax regulations a tax profile analysis is made possible of the financial instruments held and of an entire portfolio.

With its private banking experience, axeed AG unifies standardised data models specially designed for banks and the tax information as well as the expertise in tax reporting and tax law experience of Noveras AG. Information is provided on a daily basis in digitised form for the bank advisor to analyse.

"The new solution brings together a large amount of client data with regulatory requirements. It offers a quick overview and provides a sound basis for action. Especially in the current period of upheaval in the financial market. Banks can use it to gain a decisive competitive advantage," explains Memo Dener, CEO of axeed AG.

"Income taxes, accumulated capital gains or losses, holding periods and various customer domicile-specific tax peculiarities as well as double taxation agreements must be taken into account when it comes to the ideal time to sell or buy securities from a tax perspective. With such an automated solution, which maps the entire depth of the regulatory framework, we offer clients a decisive added value in advisory services," says Yves Fischli, partner of Noveras AG, with regard to the new product, which is currently a concrete need of end clients.

A preliminary assessment of the client portfolio serves as the basis for the real-time evaluation. Thus, taking into account the effects on the tax burden depending on the domicile of the client. It can be decided whether and at what time and how many securities are to be bought or sold. In the event of a client's domicile change, for example, the bank advisor can simulate the effect on the client's portfolio and inform the client immediately.

In addition, the order to buy or sell securities can be placed directly via the system. A year-end report for the client's tax advisor is also possible including all liquid and even partly illiquid investments.