Zürcher Kantonalbank (ZKB) will continue to rely on RAQUEST, leading German fintech specializing in withholding tax solutions for financial institutions, to advance the digitalization and regulatory compliance of withholding tax services, building on a well-established and successful cooperation in tax reclaim.
Under the agreement, ZKB will implement RAQUEST’s “MiKaDiv for Foreign Banks” and “MiKaDiv for Intermediary Banks” technology, with deployment scheduled for January 2027, guaranteeing ZKB will be thoroughly prepared to meet Germany’s mandatory reporting requirements. The implementation will integrate the MiKaDiv modules seamlessly into ZKB’s existing infrastructure, with full operational readiness by the target date.
RAQUEST’s MiKaDiv modules address regulatory requirements, while reducing operational complexity and risk exposure. The collaboration will enable ZKB to provide its clients and serviced banks with compliant tax reporting solutions essential for withholding tax reclamation. Moreover, the implementation represents an important step in ZKB’s broader digital transformation strategy, streamlining workflows and enhancing efficiency across withholding tax management.
By deploying RAQUEST’s software solution, ZKB reinforces its commitment to offering comprehensive, regulation-compliant services to a diverse client base. At the same time, the cooperation positions ZKB to address upcoming regulatory initiatives, including the EU FASTER Directive, effective 2030.
“ZKB’s deployment of our MiKaDiv modules reflects their confidence in our technology and expertise. It highlights RAQUEST’s leading role in the digitalization of withholding tax reclaim and relief-at-source processes, and positions us to support the financial industry in the future with FASTER reporting,” says Alexander Lerch, CEO and Co-Founder of RAQUEST.
“We have been working successfully and satisfactorily with RAQUEST for many years. We use their application for all withholding tax reclaims for our clients. It is a strong partnership that we are now consciously expanding to include the service of obtaining the German tax certificate,” says Christian Binz, Product Manager Client Reporting and Tax Services of Zürcher Kantonalbank.
Zürcher Kantonalbank is a leading universal bank in the Zurich economic area with Swiss roots and international reach. It is an independent, incorporated public-law institution of the Canton of Zurich and has received top ratings from the rating agencies Standard & Poor’s, Moody’s and Fitch (AAA/Aaa). With more than 6,600 employees across the group, Zürcher Kantonalbank offers its clients a comprehensive range of products and services. The bank’s core activities include financing businesses, asset and wealth management, trading, capital market transactions, deposits, payment transactions and the card business. Zürcher Kantonalbank provides clients and distribution partners with a comprehensive range of investment and retirement provision products and services.
For further information: www.zkb.ch
RAQUEST is a leading fintech company specializing in withholding tax management for financial institutions. As part of the Halvotec Group, RAQUEST has been providing innovative software solutions for the efficient processing of withholding taxes for over 15 years. RAQUEST enables financial institutions to meet regulatory requirements, increase efficiency, and reduce costs while maximizing investor returns. The modular B2B software supports all common tax relief procedures and has established itself as the market leader in withholding tax processing with a customer portfolio of renowned financial institutions.
For further information: raquest.tax
