The Future of Tax: Exclusive SDS panel discussion about the future of Withholding Taxes across Europe at the 2021 FS Tax Conference.

On 10 & 11 November the Financial Services Tax Conference will take place virtually in 2021. Over 2 days, 40+ speakers will address a global audience on a range of industry issues in 14 thematic sessions. Pairing leading industry expertise with topics that have great scope for intriguing debate, the conference offers an engaging experience in an intimate conference setting. So does SDS with its exclusive panel discussion on 10 November 2021. Topic: Withholding taxes across Europe (TRACE). Get ready and join the conversation.

We would be delighted to meet you virtually. Register today!

Michel Grandchamp becomes the new SDS Chief Financial Officer.

Michel Grandchamp (50) will take over the role of Director Finance and Controlling at SDS as of September 2021. As a member of the Management Board, he will be responsible together with Managing Director Ernst Kendlbacher for the continued success and growth of SDS in its core and target markets in Europe. Michel Grandchamp will also assume the role of Vice President Finance and Controlling at T-Systems Alpine (Austria & Switzerland), where he will be responsible for the finances of the highest-revenue region outside Germany, also as a member of the Management Board.

Michel Grandchamp has held various positions at T-Systems since 2007, both internationally and in Switzerland, France and the Netherlands. Most recently, Grandchamp held the position of Vice President Finance and Controlling at T-Systems France and T-Systems Netherlands. “I am looking forward to continuing the success story of T-Systems Alpine and to actively shaping its growth and further development,” says Grandchamp.  In addition to his participation in Deutsche Telekom’s Leadership Programme, he also completed management training with the Swiss Army. Grandchamp started his professional career in 1995 at IBM in Switzerland. He sought his next challenges at UUNET GmbH / MCI WorldCom AG in Geneva and Zurich and Global Crossing, where he was Sales Manager for the DACH region and Scandinavia. Grandchamp studied at the University of Bern and holds a licentiate in business administration. Further studies took him to Oxford University and the University of St. Gallen.

Grandchamp is a British and Swiss citizen and speaks German, English and French. A keen skier, he lives in Biel, Switzerland, and is married with three children.

SDS WHITEPAPER: Tax Reporting Insights from European Tax Experts on TRACE.

TRACE, the OECD Treaty Relief and Compliance Enhancement Package, is a withholding tax treaty claim mechanism for non-resident portfolio investors. Finland was the first country in the world to adopt it.

TRACE was established to simplify the approach of claiming lower tax rates by leveraging the central role of intermediaries. By registering as an Authorised Intermediary (AI), financial institutions and custodians may take over the responsibility for the correct taxation for their clients and agree to exchange the relevant information with the competent authorities, allowing the financial institutions and custodians to benefit from the opportunity to simplify their clients‘ cross-border investments.

The TRACE model for withholding taxes of dividends paid to nominee-registered shares was implemented at the beginning of this year and the first reporting is due in January 2022. For financial institutions and custodians registering as AIs or considering doing so, there is still much to learn about the TRACE benefits and challenges, about the details of the implementation in Finland, and prospective future jurisdictions adopting this regime.

This SDS WHITEPAPER summarizes the key findings of the discussion on the following points:

  • The benefits of TRACE
  • The specifics in Finland
  • The challenges of implementation
  • The future of TRACE

generated during an SDS webcast in May 2021.

In addition, we provide a summary of an expert interview with Veroskatt (Tax Authority Finland) in the form of an e-paper in the download-section.

SDS WEBINAR: TRACE – Best Practices in Streamlining Withholding Tax Procedures.

Finland was the first country to adopt TRACE, the OECD Treaty Relief and Compliance Enhancement Package and there are only a few months to go until the first TRACE reports must be submitted to the competent authorities.

TRACE was created to streamline the procedures for claiming reduced tax rates by leveraging on the central role of intermediaries, that, when becoming Authorised Intermediaries, agree to the automatic exchange of information, thus taking advantage of the opportunity to simplify cross-border investments for its clients.

In this complimentary webinar discussion you’ll be able to learn about the real advantages of TRACE, for Finland introducing some adaptations, for potential further countries adopting this regime, and last but not least for clients and their custodians registering as AI. Are there challenges for the industry and how do experts assess the success of this initiative regarding the potential for second and third movers?

Date: Thursday, 27 May 2021. 11 am CET / 12 pm Vienna time.


SDS E-PAPER: AI in Software Testing.

AI has become an integral part of software testing: Digital transformation requires an ever-growing number of features going live in ever shorter cycles. This calls for an ever-higher level of test automation with a special focus on faster availability and changeability. Read more about the most fascinating issues relating to the topic in the experts’ discussion, which was held together with the testing experts of the entertainment industry.


SDS WHITEPAPER: The use of artificial intelligence in software testing.

The future of software testing is clearly moving towards automation. In this context, faster availability, changeability, and maintainability are the focus of an increasing number of agile projects. Particularly the advancing digitisation with its hunger for new features in shorter and shorter cycles presents testing with ever-growing challenges. A discussion panel with testing experts from the telecommunication and software industry from Germany and Austria. Find out more about AI in Software Testing in our SDS Whitepaper.


To what extent will AI be able to help us improve or even replace manual software testing in the future?

The future of software testing lies in a strong increase in the degree of automation, with a special focus on fast availability, changeability, and maintainability in agile projects. The path to fast and fail-safe test automation leads via the use of artificial intelligence to achieve the best possible quality on time and at low cost. Learn more about the most exciting questions on the topic in our next SDS WEBINAR, created together with leading telco industry experts (available in German only). Watch here.

SDS Achieves Oracle Exadata Optimized Status. Oracle recognizes SDS GEOS for processing securities 8X faster on Oracle Exadata Database Machine.

SDS (Software Daten Service) today announced it has earned Oracle Exadata Optimized status through Oracle PartnerNetwork (OPN), demonstrating that SDS GEOS 7.9.0 has been tested and tuned on Oracle Exadata Database Machine to deliver speed, scalability, and reliability to customers. SDS is a Platinum level member of OPN.

Only a few companies manage to set new digital standards with the disruptive change happening in the financial industry and at the same time guarantee security in maximum performance dimensions. As part of a proof of concept (PoC) conducted at the Oracle Solutions Center, the throughput of SDS GEOS securities order processing was measured. The test of SDS GEOS 7.9.0 was conducted on an Oracle Exadata X8M configured as a database system with a two-node RAC, with a total of 32 CPU cores and 64GB memory assigned to the workload, which resulted in a more than convincing throughput of 795.9 orders/sec compared to the currently acceptable100 to 400 orders per second. This clearly demonstrates that SDS GEOS runs very efficiently on Oracle Exadata Database Machine and that SDS is a future-proof and secure partner for the highest workloads.

Oracle Exadata Optimized is part of the Oracle Exastack Optimized program which enables partners, such as SDS, to leverage OPN enablement resources and dedicated lab environments to help develop, test, and tune their applications on Oracle Exadata engineered systems.

By achieving Oracle Exadata Optimized status, Oracle recognizes SDS for developing, testing, and tuning SDS GEOS on Oracle Exadata. This accomplishment is a testament to SDS’s ability to deliver the extreme performance and reliability customers require.

“Together with Oracle, SDS was able to test a new performance dimension in the processing of securities orders. This is a very important indicator that shows the limits of the performance of banking systems and associated transaction service providers can be surpassed, especially when needed in a volatile and strongly crisis-driven trading environment. A level of around 100 to 400 orders per second is usually sufficient for large securities traders in the most significant financial markets in Europe to guarantee their customers an immediate dispatch to the trading center even in times of extremely high order volumes. This requirement was outperformed by up to 700% in our laboratory test, providing clear evidence that SDS GEOS runs very efficiently on Oracle and that SDS is a future-proof and secure partner for the highest workloads in this technology stack,” comments SDS Managing Director Ernst Kendlbacher on the results for Oracle Exastack Optimized.

“Oracle Exastack Optimized recognizes partners who have optimized their solutions on a complete, integrated and cloud-ready infrastructure in order to help them accelerate innovation, unlock new features and functionality, and deliver superior value to users,” said David Hicks, Vice President, Worldwide ISV Ecosystem Business Development, Oracle. “By achieving Oracle Exadata Optimized status, SDS has demonstrated that SDS GEOS is tested and tuned to work with Oracle Exadata to help deliver optimum performance, scalability, and reliability to their customers.”

To find out more, visit http://www.sds.at

The first virtual SDS Community Forum: a big success.

On 21-22 October 2020, the first virtual SDS Community Forum took place with the active participation of international SDS customers and business partners. The concept of bundling expert and management rounds – previously organised on a product-specific basis – in a cross-portfolio event was realised in a completely digital form. This was on the one hand due to SDS’ promise of “Setting Digital Standards” and on the other hand, of course, due to the current pandemic framework conditions. The two virtual days of the forum were characterised by professional and exciting content. According to the motto of the event “Shaping the future together”, SDS also presented (additionally to the current highlights and future-oriented projects regarding the SDS product and service portfolio) a multitude of topics from the areas of securities processing with a focus on corporate actions and settlement, regulatory reporting, cost transparency as well as securities compliance and invited to regulatory focus sessions on SHRD, CSDR and ECMS. The programme was rounded off by cross-cutting issues such as process optimisation, project reporting, cloud readiness or testing innovations.

The number of participants surpassed the expectations and goals of SDS. The feedback of the customer community on the individual sessions – in terms of content as well as format – was thoroughly positive. The interactive exchange of lessons learned, expectations and new ideas via the digital event and interaction tool worked excellently and was well accepted by the participants.

Niv Graf, Head of SDS Service Delivery Management and organiser of the event, adds: “With the SDS Community Forum, we have successfully established a new interactive format for our customer community. We are very satisfied with the results regarding acceptance, dialogue and feedback quality. We will continue to use and enhance the SDS Community Forum as a platform for cooperation and exchange, but also for criticism, ideas and challenges. SHAPING THE FUTURE TOGETHER: Nomen est omen.”

Raiffeisen Banking Group and banking technology partner SDS announce further joint future plans.

The Raiffeisen Banking Group and SDS announce the signing of a cooperation agreement for further years. The Austrian Raiffeisen Banking Group is the country’s largest banking group with the densest network of banks and around 2.8 million retail customers in Austria. Via Raiffeisen Bank International (RBI), the group is represented in 13 markets in Central and Eastern Europe. The Austrian company SDS (Software Daten Service) is one of the leading providers of modern banking technologies in securities processing, tax, and compliance automation as well as associated services in Europe. Via its owner T-Systems International, it is part of Deutsche Telekom AG.

The two companies can look back at a long and successful history together. Before SDS was taken over by T-Systems International in 2004, SDS with its flagship product SDS GEOS had been owned by RZB (Raiffeisen Zentralbank) for 11 years, which itself took over the banking software provider from Schoellerbank in 1993. During this partnership of almost 30 years, not only one of the most competitive solutions for automated securities and derivative processing in Europe was developed in the form of SDS GEOS, but also a comprehensive portfolio of internationally successful additional products for tax regulation or securities compliance and a software testing division that is strongly sought after in German-speaking countries, including companies outside the banking sector, was created.

Through the specialised subsidiaries and associated companies of the Raiffeisen Banking Group, it is possible to meet the individual needs of each customer group and to provide an all-round financial service “under one roof”. For example, RBI in Austria is specialised on commercial banking and investment banking business and advises the country’s top 1,000 companies as a corporate finance bank and a bank for export financing. The all-round financial service of the Raiffeisen banking group also includes financial services of Raiffeisen specialist companies such as the investment company Raiffeisen Capital Management, Raiffeisen Versicherung, Raiffeisen-Leasing or Raiffeisen Bausparkasse.

The Raiffeisen Banking Group must count on a strong, reliable, and innovative technology partner not only because of its great international market success but also, and in particular, to ensure future competitiveness in the light of the dynamic changes in international banking. These changes are driven by growing market and consumer digitalisation, the demand for and use of artificial intelligence, disruptive market participants, and the highest efficiency and response requirements, to mention only the most important of the current challenges.

SDS Managing Director Ernst Kendlbacher comments: “We are in the middle of a digital revolution in the banking sector. Innovations in terms of creating new processes and adapting to new technologies are essential for a healthy future. Raiffeisen will continue to purchase SDS products on a large scale in the future, thus further demonstrating its confidence in our portfolio. The new contract also includes all relevant security and regulatory requirements for the Raiffeisen group. A great success for both contract partners.” Edzard Janssen, Head of Group Procurement, Outsourcing, and Cost Management of Raiffeisen Bank International AG adds:  In order to be sustainably successful in competition, it is important to work with professional and innovative partners.”