News
Fondsdepot Bank prepared for final withholding tax – continued cooperation with system partner DIAMOS
28 Jul 2008
Sulzbach / Frankfurt, 28 July 2008. Xchanging, the international pure play business process outsourcing (BPO) company, will continue to work with DIAMOS AG / Sulzbach as a system partner in the area of retail investment account management. The initially three-year contract with DIAMOS, who provides standard software solutions for the investment industry, comprises the supply and maintenance of DIAMOS-D, investment account management software, to the Hof-based Fondsdepot Bank GmbH. In November 2007, Xchanging acquired 51 per cent of the shareholdings in Fondsdepot Bank and took operational control by signing a partnership agreement with Allianz Global Investors Kapitalanlagegesellschaft mbH (AGI).
The decision to continue the agreement with DIAMOS was primarily based on two factors: the long and successful collaboration between DIAMOS and the formerly AGI-led Fondsdepot Bank; and the software provider’s modern systems platform which perfectly supports Xchanging’s growth strategy of generating third-party business.
"We want to offer our customers reliable and cost efficient services. This requires smoothly running processes in the back and front office. We are delighted to work with DIAMOS as they provide a powerful software solution which allows us to deliver best possible services", says Mike Margetts, Executive Director of Xchanging Financial Markets and Executive Board member of Fondsdepot Bank. "DIAMOS offers an adequate software solution for complex challenges such as the implementation of the final withholding tax. We are perfectly prepared for the new requirements and can guarantee our customers a service which is fully compliant with the final withholding tax regulations in 2009", Margetts continues.
DIAMOS is also pleased with its new partner, Xchanging, and the future cooperation: "We are delighted that we could convince an international player such as Xchanging of the added value of our solutions", Wilhelm Velten, CEO of DIAMOS, comments. "We are looking forward to working with them on joint projects in future", he adds.
About Xchanging
Xchanging is a fast growing international, pure play business process outsourcing company providing complex industry specific processing to the banking and insurance industries such as securities processing, commercial insurance premiums and claims processing. Xchanging also provides procurement, finance and accounting, and human resources services to customers across industries.
About Fondsdepot Bank
Fondsdepot Bank GmbH which emerged from GKS Gesellschaft für Kontenservice in 2003, has been under operational control of Xchanging, an international pure play BPO company, since November 2007. Fondsdepot Bank provides portfolio management and administration services on an open fund platform to investment companies, distribution companies, banks and other businesses. With some 1.3 million active securities accounts and an asset volume under management approaching € 19.2 bn, Fondsdepot Bank is one of the leading providers in the area of transfer agencies in Germany and offers its customers a portfolio adding up to some 6,500 public funds of more than 150 investment companies. Fondsdepot Bank which employs more than 400 staff, is regulated by the Bundesbank and BaFin, and has a partial banking licence.
Press Contacts
Xchanging
Claudia Behr
Manager Public Relations
Wilhelm-Fay-Str. 31-37
65936 Frankfurt
Telefon: +49 (0) 69 - 12012 60137
Fax: +49 (0) 69 - 12012 60060
E-Mail: claudia.behr@xchanging.com
Internet: www.xchanging.com
DIAMOS AG
Daniela Schöneberg
Marketing & Vertrieb
Am Limespark 2
65843 Sulzbach
Telefon: +49 (0) 61 96 / 65 06-199
Fax: +49 (0) 61 96 / 65 06-100
E-Mail: daniela.schoeneberg@diamos.com
Internet: www.diamos.com