GEOS Press &
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Company profile: Software Daten ServiceSDS is a subsidiary of T-Systems and specialises in the development of banking software in the international securities processing arena. GEOS from SDS is a real-time STP solution for handling securities and derivatives transactions and features integrated front, middle and back-office functionality for the private and retail banking business of international financial services providers.For further information please contact: Michael Gromes, GEOS Marketing, +43 (0)1 24056 5204, presse@geos.biz Press release Vienna, 10th November 2011 First Austrian customer decides for the FATCA solution of Software Daten ServiceDREI-BANKEN-EDV GmbH (3BEG) is the first Austrian customer to use the new IT application "FATCA Reporting Engine" of Software Daten Service. Apart from HSBC Transaction Services, Oberbank AG, Bank für Tirol und Vorarlberg AG as well as BKS Bank AG will use SDS' new banking solution for all US tax reports. "As we can look back on a well-established partnership with SDS in the securities area for more than ten years, it was easy for us to decide for the FATCA Reporting Engine. SDS is familiar with our framework conditions and we already have integrated GEOS interfaces. Therefore, the quick and smooth implementation of the new banking application can be taken for granted", says Karl Stöbich, CEO of 3BEG. Based on the Foreign Account Tax Compliance Act (FATCA), all financial services providers worldwide are obliged to meet the new and stricter reporting requirements of the American Internal Revenue Service (IRS) as of 2013. Should financial services providers fail to comply with these documentation and reporting obligations, their proceeds from US securities will be subject to a withholding tax of 30%. Ernst Kendlbacher, Managing Director of Software Daten Service: "We are pleased to have acquired 3BEG as another customer for our banking solution. Our FATCA application meets the requirements of the American Internal Revenue Service in terms of securities trading and supports financial services providers concerning their complex and short-term tax and reporting obligations."
Press release HSBC Transaction Services – first FATCA customer of Software Daten ServiceVienna/Duesseldorf, September 1, 2011 HSBC Transaction Services relies on the new IT solution of Software Daten Service (SDS) to meet the requirements of the American Internal Revenue Service (IRS) for securities trading. The US FATCA regulations will become effective as of 2013. Until then, all securities processing service providers worldwide have to meet the requirements of the IRS Reporting with one software product for all client institutions. The SDS solution "FATCA Reporting Engine" covers all quality requirements of HSBC, Germany's largest securities processing service provider. Dr. Thorsten Warmt, member of the management board of HSBC Transaction Services, comments on the decision for the one-stop solution: "SDS' FATCA Reporting Engine integrates perfectly into our system environment and is for us the most efficient solution for the implementation of FATCA. The product offers a complete reporting solution able to fulfil the IRS requirements. Several preliminary talks with SDS gave us confidence in a competent implementation." The mandatory requirements from the tax and legal reporting area become more varied, complex and burden business finance with ever shorter lead times. "We appreciate HSBC Transaction Services' trust in our product. We provide our customers with a cost-efficient and comprehensive solution for FATCA requirements at an early stage", says Ernst Kendlbacher, managing director of Software Daten Service. The final regulations which will be published by the American Internal Revenue Service (IRS) in the summer of 2012 will be incorporated automatically into the FATCA Reporting Engine by SDS.
IIR Conference – FATCA Foreign Account Tax Compliance Act On September 28th and 29th 2011, the IIR event dealing with "FATCA – Foreign Account Tax Compliance Act" will take place at the Steigenberger Hotel Herrenhof in Vienna. Learn more about the law and how it can be applied in practice. Dr. Wolfgang Göb (Sales and Product Management, Software Daten Service) will give a talk about "FATCA compliant reporting based on a standardised software" on September 29th at 15:00. Please visit us at our stand and get informed on Software Daten Service's FATCA Reporting Engine. We are looking forward to your visit.
IBM Symposium 2011 in Vienna – The FATCA Reporting Engine
On October 6th 2011, the 10th IBM Symposium will take place at the Congress Centre (Messe Wien) in Vienna. The IBM Symposium is the largest and most significant IT event in Austria with more than 1,800 visitors. Within this framework, the visitors can get information regarding the current trends, integrative solutions as well as the latest news from the research area and can discuss together with experts and create contacts. During the event, Software Daten Service will introduce its FATCA Reporting Engine which perfectly complements its standard software GEOS but also enables a reliable FATCA processing as an independent solution for financial services providers.
Please visit us at our stand and get informed – we are looking forward to your visit! The FATCA Reporting Engine live in SwitzerlandVienna, 9. June 2011
On Tuesday, 5 July 2011, IBM Switzerland invites at 4 p.m. to a "100-minute cocktail reception: FATCA – are you prepared?". The event will take place at the Steigenberger Hotel Bellerive au Lac, Utoquai 47, 8008 Zürich. Dr. Wolfgang Göb, Senior Sales Manager Software Daten Service, will give a talk about the FATCA topic and presents FATCA Reporting Engine prototype in action. We are looking forward to welcoming you at this event. Please take the chance to inform yourself on site about the FATCA Reporting Engine of Software Daten Service.
Press release GEOS at the 4th Financial Centre Meeting in FrankfurtVienna, 9. Febrary 2011
The 4h Financial Centre Meeting is dedicated to current analyses and developments and the effects of new legislation on financial market actors. This includes, for example, the new framework conditions for
On 17 March 2011, Dr. Wolfgang Göb will present the FATCA Reporting Engine, which is being developed by Software Daten Service, in his talk about "Foreign Account Tax Compliance Act (FATCA), solutions for the implementation of the new US regulation". The Financial Centre Meeting is the central communication forum for the German financial industry in the financial centre Frankfurt. The associated trade show offers insights into state-of-the-art products and technologies of the financial sector, and once again GEOS is a sponsor of this event. The 4th Financial Centre Meeting in Frankfurt takes place from 16 March to 17 March 2011 at the IHK in Frankfurt. Austrian software vendor Software Daten Service announces development of a FATCA moduleVienna, December 1. 2010Software Daten Service is developing a module for processing the "Foreign Account Tax Compliance Act" (FATCA). Although the most important provisions of FATCA will not become effective before 1 January 2013, the financial world has been discussing this topic and its implementation for some time. Software Daten Service (SDS) is already engaged with the development of a FATCA module. The planned solution is intended to complement the GEOS standard software and will also enable customers who do not use this securities processing software to carry out reliable FATCA processing. "We are in the middle of the further development of our reporting engine for financial intermediaries to cover the reporting requirements stipulated in the Foreign Account Tax Compliance Act", explains Alexander Birkl, Head of GEOS Sales and Product Management. SDS has vast experience in the development of international standard software for financial intermediaries and extensive knowledge of the German flat rate withholding tax (Abgeltungsteuer). The Foreign Account Tax Compliance Act will have a global impact and concern all financial intermediaries such as banks, investment companies and securities services providers. The objective of this act is to tax income of US citizens from non-US financial services providers. On account of the act's complexity and the bilateral agreements remaining to be reached, preparations for a corresponding implementation in the software must start promptly. "A modular structure and the option to integrate the engine into various application environments represent an important objective concerning the development of this reporting engine. The implementation is based on established components which have been designed specifically for financial services providers. The new component can be used independently from GEOS and supplied with data from various processing systems via standard input and output interfaces“, continues Alexander Birkl. Press release SDS receives international award for banking software GEOSLa Hulpe/Wien 19. August 2010 The Society for Worldwide Interbank Financial Telecommunication (S.W.I.F.T.) awarded Software Daten Service with the SWIFTReady Label, one of the highest awards for securities and derivatives processing in the financial industry worldwide. The banking software GEOS received this award due to its functional scope and the complexity of SWIFT messages, the connection to SWIFTNet and also due to customer satisfaction confirmed by SWIFT in an interview. "We are glad to have a product like GEOS on the market that enables our common customers to realise efficient settlement in a complex environment. The implementation of SWIFT standards is uniform on the one hand, but can also be individualised in a highly performant solution on the other hand. This has been possible with quality certified by SWIFT for many years", Michael Formann, Head of SWIFT Austria, Region Austria/Central and Eastern Europe, congratulates the software house in Vienna. The SWIFTReady Label for GEOS confirms that the Vienna-based subsidiary of T-Systems is one of the world's leading IT companies in the financial industry. "This high award emphasises what we stand for: highest efficiency in securities processing for our customers", says Dr. Helmut Saueregger, Managing Director of SDS. Due to the compliance with international standards GEOS offers banks a decisive competitive edge. "This proves we follow the right way with our forward-looking strategy", says a proud Helmut Saueregger.
Press release WM Datenservice platinum certification for GEOS
[Vienna/Frankfurt – 05 May 2010] Press release GEOS is "Ready for IBM DB2 Data Server Software" certified
GEOS - the standard software for securities processing - has been certified as "Ready for IBM DB2 Data Server Software" by IBM. This certification stands for selected software of IBM Business Partners that can be seamlessly integrated in already existing DB2 solutions. With its flagship product GEOS, Software Daten Service has already achieved "IBM Advanced Business Partner" status in May 2009. In order for the software to receive this label, the business partner product is validated against standards for the integration of "Ready for IBM DB2 Data Server Software" products. The advantages for the customers are quick and simple implementation as well as cost-effective and low-risk integration of the solution.
Press release GEOS at the "3rd Financial Centre Meeting" in FrankfurtOn 4 March 2010, Josef Schiessbühl, the SDS expert for straight through processing and SWIFT, held a workshop on 'STP im Anteilscheingeschäft' (STP for fund transactions) at the 3rd Financial Centre Meeting.
The Financial Centre Meeting is the central communication forum for the German financial industry in the financial centre Frankfurt. The associated trade show offers insights into state-of-the-art products and technologies of the financial sector, and once again GEOS is a Gold Sponsor of this event. At the exhibition stand visitors can find out more about GEOS and its extensive functionality or get individual consultations during the exhibition, in the breaks or at the evening event. The 3rd Financial Centre Meeting in Frankfurt takes place from 3 March to 4 March 2010 at the IHK in Frankfurt.Link to "Financial Center Meeting" |
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Software Daten Service (SDS) has reached the top with GEOS, its banking software: a SWIFTReady Label is only awarded to the best of the world.
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