The withholding tax fintech RAQUEST enters a strategic partnership with PRADER BANK AG. The collaboration is part of RAQUEST’s ongoing internationalisation initiative. The goal of the partnership is to open up the Italian market for RAQUEST’s automated software solution together with the South Tyrolean partner PRADER BANK.
With the South Tyrolean PRADER BANK, RAQUEST GmbH, located in the south of Munich, has now a strategically valuable partner at its side. PRADER BANK is a private bank with headquarters in Bolzano and further subsidiaries in Trento and Verona. Thanks to its extensive regional and national network in the Italian financial sector, PRADER BANK represents an important partner for RAQUEST’s market entry in Italy. Alexander Lerch, CEO of RAQUEST, comments on this in more detail:
“Italy is a strategically important market for RAQUEST’s further internationalisation. For this project it was important for us to find an expert partner who supports us with market expertise and a broad network. That is why I am very pleased that we have now entered into a promising partnership with PRADER BANK. Our goal is to establish automated withholding tax processing with RAQUEST in the Italian banking world by 2025 – the potential for it is given.”
Josef Prader, Founder and Managing Director of PRADER BANK, adds: “The topic of withholding tax is very important for Italian banks, given that domestic investors hold many high-dividend securities abroad and are thus directly burdened with withholding tax. Hence, it is worthwhile for banks to reclaim withholding tax for their investors. This increases both the banks’ service quality and the investors’ return – a classic win-win situation. However, processing withholding tax refunds manually makes little sense for banks. That is why the RAQUEST software solution, which automates this very bureaucratic process, convinced us right from the beginning. We look forward to supporting RAQUEST’s further growth in the Italian banking market as a strategic partner.”
RAQUEST is a subsidiary of Halvotec Information Services GmbH, based in Raubling, Bavaria. The fintech provides financial institutions with automated software for simple reclaim and relief at source processes of foreign withholding tax. This has made RAQUEST the leading withholding tax tool for more than ten years. RAQUEST’s customers include renowned German and international custodian banks. More information about RAQUEST GmbH is available at www.raquest.de
PRADER BANK AG is an Italian private bank based in Bolzano. It is the only bank in Italy to offer independent, ISO-certified financial advice and, through its Family Office, solutions for all assets at an international level. PRADER BANK is known for its extensive regional and national network in the Italian banking and financial sector. Read more here: www.praderbank.com.