Global investment bank

Project Purpose

Traditionally, the Tax Operations department of a global investment bank relied on a manual system of hard copy filing and spreadsheets to record, file and store data on its clients' tax affairs. As competition within the financial services industry grew, the Bank demanded greater responsiveness to customer needs and looked for a faster and more accurate way of handling the tax affairs of its growing list of investor clients around the world.

Brief description

The project sought to transform the Tax Operations department into a more agile organisation supported by a document management and workflow system that automated the majority of the processes involved in keeping client tax documentation up-to-date.

The team from Icon Solutions worked to identify the needs of the business and then build a technology solution and set of processes to support those requirements, a true cradle to grave engagement in a highly complex environment. Close collaboration between the Bank and Icon Solutions was key to the successful identification of the business needs and requirements, and ultimately to the delivery of a technology solution.

As part of the on-going evolution of the Tax Operations department, Icon Solutions is currently engaged in working with the Bank to identify their global tax reclaims requirements and to deliver a new bespoke application integrated into the TaxMinder suite.

Key Products & Services

Business Benefits of Project

"TaxMinder has transformed the way we service important clients. It started as a local UK project that has turned into a global programme supporting the strategic vision of the Bank. Working closely with Icon Solutions, we plan to capitalise on the investment the Bank and Icon have made."

Managing Director Asset Services, Securities and Funds Services.