back Back

BNY Mellon adopts Xceptor’s tax solution

By Edlyn Cardoza

August 03, 2022

  • Bny Mellon
  • Digital Transformation
  • Financial Institutions
Share

BNY Mellon, Xceptor, Tax Platform, Tax Risk, Financial Institutions, Tax Documentation Management, Xceptor Tax Solution, Digital Transformation, USABNY Mellon has entered into a multi-year licensing agreement to adopt the Xceptor tax platform. BNY Mellon is transforming the delivery of its extensive tax service offering by adopting Xceptor’s technology. The phased implementation of Xceptor’s end-to-end tax platform will help to reduce tax risk by providing transparency and efficiency in an ever-evolving tax regulatory landscape.

“BNY Mellon’s adoption of the Xceptor Tax Solution will help us transform how we perform custody tax services for our clients,” said Liam Stanbridge, Head of Tax Product at BNY Mellon. “This aligns with our digital strategy to offer scalability and agile functionality, strengthening both our tax service proposition and our client experience. We look forward to working with Xceptor on implementing this program together and advancing digital integration across market participants to help make withholding tax relief more efficient for institutional investors.”

The solution will provide digital process automation for tax documentation management and pre-population, identification of tax relief opportunities, and enhanced submission and tracking of withholding tax reclaims.

“As the move towards digital versatility and capability intensifies, fueled by increasing regulatory oversight, there’s a need for financial institutions to implement more efficient and effective processes,” said Andrew Kouloumbrides, CEO at Xceptor. “The Xceptor Tax Solution embodies our deep industry knowledge of optimizing and automating tax processes, which has been derived from transforming tax operations for the world’s leading financial institutions.”

Recently, IBS Intelligence reported that CAIS and BNY Mellon’s Pershing announced a series of updates to their platform to enhance alternative investment product access and order processes as broker-dealers and financial advisors allocate to new asset classes on behalf of their clients.

Previous Article

August 03, 2022

CoinLoan partners with Blaze Information Security to boost cybersecurity

Read More
Next Article

August 03, 2022

FinTech start-up Jify raises $10m in Series A funding

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

Bny Mellon

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 22, 2024

Revolut launches Robo-Advisor to automate investment processes

Read More

February 19, 2024

Saudi Arabia’s SNB Capital teams up with FinTech Malaa Technologies

Read More

February 19, 2024

Spare8 taps EbixCash’s MoneyWare to power Digital Gold Investment offering

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023