Finnova Core Suite

The Core Suite ensures the management of master data (consistency, up-to-dateness, clarity), and secure, reliable, highperformance order processing. By nature, the Core Suite is data-centric and places high demands on standardisation, automation and efficiency – and in particular on processing speed.

The modular structure of the Core Suite covers all modules with payment transactions, financing, investments (Investment Management and Investment Operations), client and product master data, and taxes. Accordingly, the master data storage is located in this central suite of the Finnova Banking Software. Here, for example, the client master, card administration, interest rates, fees and charges are integrated. The parameterisable process management guarantees the banks an efficient and individual integration.

The focal point of the Core Suite is the quick and comprehensive processing of all business cases and unrestricted, role-based access to all data.

Finnova Banking Software

Solutions for Smarter Banking

Strategic Focus
Digitalisation
Industrialisation, Standardisation
Data, Analytics & Compliance
Ecosystem

Finnova Banking Software

Solutions for Smarter Banking

Strategic Focus
Digitalisation
Data, Analytics & Compliance
Industrialisation, Standardisation
Ecosystem

Payments

The Finnova Payment Transactions (ZV) module is designed for standardisation, automation and efficiency. It supports standards and procedures established in Switzerland and internationally (SEPA, SWIFT), and the structured and efficient entry and processing of payment orders. Domestic payment transactions In domestic payment transactions, client and interbank payments are supported in the current XML format according to ISO 20022. As a result of the full integration of electronic channels into the Finnova Payment Transactions module, optimal processing of client payment orders can take place and electronic account statement information can be provided quickly and as needed. Innovative market developments such as peerto-peer payments or person-to-merchant payments (e.g. Twint or WIR Pay) are seamlessly integrated into the Finnova ZV application via the Finnova Payment Solution Adapter, and offer private or business clients a broad spectrum of payment options.

Payment transactions in an international context

In cross-border payment transactions, it is possible to achieve a high degree of automation with the bank-specific entry of multi-level payment channels at final beneficiary bank/currency level for the execution of client payments. This minimises the time and effort for manual post-processing jobs and saves costs. With the introduction of the universal confirmation, the so-called UETR (Unique End-to-End Transaction Reference) will be delivered with all SWIFT payments. Banks of the SWIFT global payments innovation (SWIFT gpi) community can thereby trace at which bank in the payment chain the payment is located at all times. The end beneficiary banks are also obligated to send a confirmation message of the incoming payment or the rejection of the payment via SWIFT within two days. Transparency and less effort for enquiries are the positive outcome.

A flexible set of rules regarding cut-off times of payment orders

A flexible set of rules is provided for outgoing payments in the payment transactions application in order to ensure the check of bank-internal cut-off times for the execution of payment orders. If the defined cut-off time is exceeded, the execution date is set to the next possible bank working day. If back office employees are required to intervene in the processing, they are supported by smart processes (automatic triggering or processing of returns, enquiries, order duplication, reverse processing or SWIFT, SIC or SEPA cancellation requests). The banks' requirements of scalable and cost-effective processing of payment transactions are paramount. Depending on the bank's operating model, the Payment Transactions application can either be an integral part of the Finnova Banking Software or it can support the modular connection to a BPO provider.

Optimal processing of payment orders

Payment transaction processes can be adapted to bank-specific requirements. The predefined workflows guarantee the highest level of security and reproducibility. In addition to the manual entry of payment orders, various ZV scanning systems are supported. Orders from the E-Banking application enter directly into the Payment Transactions application without redundant storage. Standing orders and cash management rules at account level are directly entered and managed in the Finnova ZV application. Both the bank and the client can edit standing orders and the cash management set of rules in the E-Banking application.

Support in the fight against fraud

In order to support banks in the fight against fraud, the originator profile can be checked by clients before the execution of payment orders. In the case of incoming payments, the bank can choose from a extensive set of criteria whether the credit entry should be made immediately or not. With beneficiary matching, which can be extended to phonetic similarity, both the greatest possible security during allocation and a high degree of automation can be achieved. Naturally, a check with regard to politically exposed persons and embargoed countries is available. Furthermore, payments can be checked in real time using analytical methods (transaction check, connections, pattern identification, (learning) algorithms) with the Finnova Compliance Filter, which is part of the Finnova Analytical Framework.

Card and ATM postings, and archiving

Processed payment orders are immediately posted, the notifications are created for the clients, and the documents are stored in the electronic archive. The posting of incoming and outgoing payments of the new card types from Viseca/Aduno and SIX via ATMs is enabled.

Finnova Services Offering: Data Quality Framework

The 'Finnova Data Quality Framework' service package of Finnova Services shows where problems lie. Together with the customer, a tailor-made concept for the implementation of clean up jobs within the customer's own client master data is developed, and possible enrichment and migration scenarios are analysed. Using a detailed plan of measures, the identified optimisation plans can be implemented transparently. With this package, we support customer requirements in the areas of client master standardisation and data deletion, and help them with the implementation of a client lifecycle concept.

Finnova Services Offering: ZV Quality Check

With the ZV Quality Check of Finnova Services, our consultants screen the parameterisation of the Finnova Banking Software in the Payment Transactions module. We conduct interviews with the users in order to gain insight into their work processes. We create a comprehensive report from these findings, which assesses the quality of the parameterisation and contains optimisation proposals to facilitate the day-to-day work.

Financing

Loan Advisory

The loan system is characterised by a high degree of flexibility when mapping various loan constellations that can be fully processed, from the loan advisory discussion and the opening of the loan order to the posting of capital and interest. The Loan Advisory module enables the entry of all loan products such as loans, overdraft facility, Libor mortgage, lombard loan, fixed advance, cash loan, leasing or contract bond. The system supports the money market mortgage on the new interest basis 'SARON' with ex-post and ex-ante interest calculation – fully automated and parameterisable to a great extent. In principle, financing can take the form of a credit line or an individual loan. In addition, collateral can be assigned, amortisations can be determined, and execution accounts and client-specific conditions (debit interest, credit commissions) can e assigned.

Loan transactions are supported by procedural organisation stages and by the periodic processing of interest, amortisations, fixed annuities (for loans, cash loans and leasing) and collateral. At this point, we would like to refer to the support in self-service: the extension of a mortgage can be carried out by clients themselves, if desired, via e-banking.

Loan processing and loan management

The loan system contains the master data management of individual loans and credit lines as well as collateral in Swiss francs and foreign currencies. The application manages pledged assets, such as account balances, custody accounts, portfolio collateral, guarantees, insurances and all other collateral. Mortgage collateral is generated and updated from the Real Estate application. All loan-relevant data is displayed in an overview screen with drilldown functionality. The module allows the portfolio status with all loan-relevant data to be printed. The screens for the management of client information (income, assets, liabilities, balance sheet ratios, taxes, debt enforcements, excerpts from the commercial register) as well as client contacts and pending tasks can be directly called. The entire credit management process is supported by the workflow.

Limits

With its Limits module, the Finnova Banking Software offers the possibility of managing and administering different limits such as counterparty, nostro, credit or card limits. Changes are updated online and have a direct impact on the calculation of the available balance. Limits can be directly entered and automatically updated via the Loans application. The Limits module enables the definition of simple and complex limits, for example if several accounts show an amount as the initial value. All Finnova applications that provide current balances, like for the account query, take into account the fixed limits in the calculation of the available balance.

Competences

The regulation of competences within the bank is governed via the Competences module. This module determines for all other modules which employees are allowed to deal with and/or authorise which business cases up to what amount.

With the definition of the competences, it is controlled who receives, further processes or concludes which pending tasks in the workflow.

Collateral

The Collateral module manages all securities as collateral in the Finnova application, from real estate liens to portfolio, account and custody account balances through to securities and retirement assets. This module also makes it possible to take into account insurance policies, guarantees and other collateral such as unsecured loans.

Real Estate

In addition to comprehensive and detailed master data for real estate and mortgage notes, the Real Estate module allows the connection of digital images. With the Finnova Banking Software, even complex ownership structures can be recorded and all data for the detailed appraisal of a property is provided. Hedonic pricing models are also integrated. The module creates a variety of documents, like appraisal reports for the land register office. These and other documents to be created frequently, such as registration and deregistration in the register of mortgage holders, can be printed by means of a simple mouse click.

In addition to owner-occupied property (single family house, multi-family residence, condominium ownership), the Real Estate module also enables the management of other properties such as industrial and commercial properties, hotels, restaurants, sports facilities, etc. Thanks to the versatile connection possibilities, even complex residential developments can be fully mapped – for instance, multi-family residences with condominium ownership and co-ownership of the underground car park. The module enables individual levels of detailing: the more precise the data, the more comprehensive the appraisal report. Mortgage notes entered in the system are used as collateral in the Loans application.

Mortgage Bond Bank

As an interface, the Mortgage Bond Bank module enables the digital reporting of pledged properties such as real estate or real estate compounds to the mortgage bond bank. A mortgage bond property is only transmitted if all required fields are filled in completely and the conditions for repledging have been met. The corresponding information can be parameterised by the bank according to its needs. The individual data has to be entered in the master applications Real Estate, Loans and Client Master and is transferred into the Mortgage Bond Bank module using the 'Update' function. Data that cannot be maintained in the master applications is updated in the Mortgage Bond Bank module.

Investment Management

Portfolio Management System

The Portfolio Management System (PMS) module integrated into the Core Suite optimally supports activities in discretionary asset management and advisory. In the PMS, allocation structures (trees) adapted to bank-specific client strategies, which serve as a basis for the various strategies, tactics, benchmarks and model portfolios, can be determined in any desired depth. Customised investment proposals in advisory and efficient bulk processing in asset management are also offered.

The 'Global Order' functionality enables the periodic restructuring of mandates in an efficient manner. Both dynamic and static investment models can be implemented. A global restructuring can take place, dependently or independently of model portfolios, for all investments in the portfolio, for individual segments or only for individual securities. Using the 'Cash Management' function, cash holdings for mandates can be managed separately from global restructuring processes. A seamless transition of the generated stock exchange and foreign exchange orders for execution into the downstream modules is guaranteed.

Bank- and client-specific investment guidelines and preferences can be easily maintained via the 'Investment restrictions' function and monitored in the pre-trade restriction check for an individual investment proposal, or within a bulk restructuring in asset management. The periodic post-trade check of investment restrictions in investment controlling is efficiently supported by checklists. Violations are directly reported to the mailbox of the user responsible for further processing.

Comprehensive configurable ad hoc analyses for asset allocation, asset development, performance calculation (TWR, MWR, before/after taxes/fees, etc.) and performance attribution facilitate the day-to-day business of client advisors, asset managers and portfolio controlling. A variety of key figures (Sharpe ratio, Treynor ratio, Jensen's alpha, information ratio, VaR, volatility, PRC, etc.) is available for risk monitoring. The modular structure of the reporting enables the compilation and preparation of targeted investment reporting which allows both the inclusion of ex-custody portfolios and consolidation across all clients.

Furthermore, the PMS includes the configuration, management and calculation of composites according to the specifications of the Global Investment Performance Standards
(GIPS). The periodic certification check is supported with detailed control reports.

Investment Cockpit

With the Investment Cockpit 1.0, the financial institution has the next generation of an asset management application for the management and monitoring of mandates at its disposal. The modern, web-based and process-oriented application enables portfolio management to implement investment decisions into the mandates step by step or in a highly automated way and quickly. Private banking advisors also benefit, especially in the advisory of professional clients. Graphical and tabular overviews are available to them for this, which visualise the investment requirement in the respective advisory mandates or the deviations from the investment strategy.With intuitive and user-friendly global overviews as well as selected individual portfolio analyses, the Investment Cockpit offers portfolio managers and investment advisors of professional clients effective support in the analysis and monitoring of their mandates.

Global dashboards with interactive graphical widgets

With the Investment Cockpit 1.0, the financial institution has the next generation of an asset management application for the management and monitoring of mandates at its disposal. The modern, web-based and process-oriented application enables portfolio management to implement investment decisions into the mandates step by step or in a highly automated way and quickly. Private banking advisors also benefit, especially in the advisory of professional clients. Graphical and tabular overviews are available to them for this, which visualise the investment requirement in the respective advisory mandates or the deviations from the investment strategy.With intuitive and user-friendly global overviews as well as selected individual portfolio analyses, the Investment Cockpit offers portfolio managers and investment advisors of professional clients effective support in the analysis and monitoring of their mandates.

Global portfolio overviews

The dashboards are supplemented with global portfolio overviews. The portfolios serve as the basis for the data in the global dashboards and global portfolio overviews. They are summarised across static or dynamic lists.

The Investment Cockpit 1.0 offers numerous graphical evaluations of the managed portfolios:

  • Number of portfolios, total assets ('under advisory' or 'under management'), the net capital flow in the portfolios and their respective absolute or relative increase or decrease compared with a specified reference date so that changes can be seen immediately
  • Number of portfolios and assets per financial service, to display frequently selected financial service types
  • Number of portfolios and assets per asset management code, to indicate attractive mandate types
  • Overview of portfolios with a high cash ratio, to show where there is an immediate investment requirement
  • Overview of the stock exchange orders for each order status and possibility to query the portfolios in which pending orders are about to expire
  • Investment volume in a specified security, to determine volumes held before restructuring

A highly configurable tabular overview with detailed information per portfolio supplements the graphical evaluations and enables almost any filtering and sorting in the portfolio overview. Occasional users can also answer questions such as 'Which portfolio has the highest value, the highest performance, the highest risk?', 'Are there portfolios with negative liquidity?' simply and quickly.

Portfolio analyses

Highly configurable dashboards for analysis of individual portfolios – in-/ex-custody or consolidation portfolios – supplement the global analyses with the following elements:

  • Total assets, performance (MWR/TWR), capital flow and the change compared with a reference period
  • Interactive graphic target/actual comparison with a drilldown per investment segment
  • Graphical and tabular overviews with display of exposure per currency, investment segment, securities type, country, sector, etc.
  • Graphical performance development since the start of the mandate, comparison with benchmark, volatility and tracking error
  • Master data information regarding the investment strategy
  • Tabular overview of the portfolio's restrictions
  • Portfolio-independent price charts with technical indicators including option for the export of data tables and price graphics
  • Printing of the private banking report

Web-based architecture

The Investment Cockpit is a web-based application with a user interface based on Angular Material components. It has been developed taking into account the latest UX design principles and offers users an appealing look and in particular intuitive operability.

Connection to the Finnova Core Suite is established via standardised Protected APIs, via which the business functionality is provided from the Core Suite. The software architecture is designed to process high volumes of data and is therefore able to support global evaluations both during preparation and during strategy implementation with high performance, efficiency and a high degree of automation.

The Investment Cockpit is a cloud-native development and requires the Finnova Omega operating platform. You can find further information regarding the Omega operating platform and in particular the topic 'runtime environment' in the 'Open Platform' section.

Investment Operations

Securities order capture

The Stock Exchange module controls the order workflow, from the creation to trading through to processing and posting. The orders can be entered as individual or block orders. Further order sources are E-Banking, Global Order, Corporate Actions, CSV import as well as an interface to third-party systems.Comprehensive check functions ensure compliance with regulatory requirements. The presence and validity of any contracts can be checked bank-specifically. All warnings from the checks are historized, as are the person and time of overrides. Orders from various sources (e.g. e-banking) can be treated differently in the process.

FIX interface

The flexible implementation of the FIX interface standard in the Finnova Banking Software allows for full straight through processing (STP) with any brokers, routing networks or external trading platforms. Execution messages can also optionally be sent via SWIFT. Communication takes place in real time. Adjustments to the order data of the trade overview are updated and highlighted in the overview without a time delay with the aid of a messaging system.

Securities order processing

For specific trading exchanges, the orders can be processed semi-automatically or manually. For this purpose, the trader interface offers profile support, reservation mechanisms and tools to compensate for opposing client orders. Here, the pooling functionality takes into account the individual cut-off times for funds. The interfaces to the following modules ensure fully automated processing within the Finnova application: Communication System, Workflow, Competences, Limits, ForeignExchange, Settlement and Registered Shares. The scheduling and blocking of securities positions as well as the printing of the settlement and the posting take place in real time.

Settlement processes

Pending deliveries from stock exchange orders and orders from the Securities Accounting application such as incoming/outgoing deliveries and securities transfers are processed by the Finnova system as a straight-through process in the settlement. In doing so, the module determines the respective custodians and creates pending deliveries for the corresponding instructions according to SWIFT or SECOM. The instructions are automatically sent and the current status of the settlement process is clearly displayed on the pending delivery. The automatic posting by the system takes place after the confirmed settlement.

Corporate Actions

With Corporate Actions, it is possible to replicate cash and securities flows of complex financial instruments in a modular system. The corresponding components from the areas of securities, cash, taxes and commissions are available for this purpose. Here, the calculation, fraction treatment and assignment (drawing) comply with the standards of international financial centres. All calculations and postings take place in real time. Rounding differences arising from these calculations are automatically identified by the module when an event has been completed, and are transferred up to a minimum limit from the transitory account to the profit and loss account.

The Corporate Actions module is workflow-based and has an integrated interface to the Foreign Exchange, Tax Statement and PMS modules. The events can be imported via VDF or WM data feed or entered manually. The paying agent's SWIFT messages (MT566) are reconciled and can trigger automated processing of client portfolios on the basis of rules. The printing options allow for a comprehensive control of dispatching, attachments and archiving. The text templates pre-defined for the individual business cases can be freely adjusted for each individual transaction, and also comprise multi-page texts for pre-notifications, replies and settlements. Thanks to these properties, all events can be mapped, from dividends to invitations and general assemblies through to splits and mergers.

The module automatically registers and takes into account standing instructions of clients with regard to selection events (optional dividend, capital increase, invitation to the general assembly, etc.). Restrictions can be individually defined per event. Blocked custody account positions are identified and the required actions are automatically triggered. Client advisors are automatically informed about new settlements or selection events of their clients.

Various selection options regarding holdings, stock exchange transactions, countries of residence at a certain point in time, also retrospectively, and nationality are available for class actions. With this, an authorisation for participation in a class action can be displayed to the client in detail and with indication of the relevant stock exchange transactions. Specific screens for the service centre allow for processing of events across all tenants.

Securities Master

The Securities Master module contains comprehensive securities data as well as listings, price data, international identification numbers and symbols, tax data, ratings and MiFID data. In addition, it offers the possibility of entering structures and relationships that are required, for example, for the securities composition of an index or basket.

For the opening of a security, entry of a valid identifier is all that is needed to start the automated process. Within a few minutes, all data of the desired security can be obtained from the provider and supplemented on the basis of rules. SIX Group is the data provider for master data and securities prices. Specific data, e.g. funds breakdown, PRC code or blacklist, can be supplemented with data from other sources.

Multi-tenant capability enables an industrial data maintenance by a BPO provider. This can include any tenants within a tower or even several multi-tenant towers. The authorisation matrix controls the distribution of fee-based data at instrument or data segment level.

Some fields can be overwritten at various levels. For example, the risk securities type can be defined globally, per multi-tenant tower, per tenant, and, within the bank, even per management area. This enables the highest degree of individuality with maximum industrialisation.

Exercise of options

The client position is automatically assigned when options are exercised by the counterparty. The underlying security is also automatically blocked when writing a call option. The system calculates and ensures the initial margin in the same way as it calculates and posts the variation margin. In the case of undercollateralisation, the workflow initiates and controls the alerting and escalation.

Business Process Outsourcing

The BPO functionalities include a securities master across multi-tenant towers, and corporate actions functions. Centrally processed instruments and results can be processed locally and fully automatically on an individualised basis. Within a multitenant tower, cross-tenant functions are available for Stock Exchange, Corporate Actions, Settlement and Registered Shares.

Treasury

The 'Treasury' application comprises the 'Foreign Exchange' (DV) and 'Money Market' (GM) modules. It enables an extensively automated processing of all business cases in all areas, from order placement up until settlement. SWIFT messages (payment instructions) are also automatically generated. Among other things, quotes (also for ZV, GM and Stock Exchange) can be provided via the integrated foreign exchange position keeping. Various consolidation levels available for cash management. The entire process is workflow-controlled. The Money Market module covers the following business events: interbank business, client transactions, own transactions, fiduciary and interbank transactions as well as traditional investment/intake of money of various currencies for liquidity balancing.

Clients & Products

All product-specific and client-specific data and functions for the Client Master, Card Administration, Limits, Fees and Account Balancing modules, in particular, are fully integrated into the Core Suite. These functions provide the core of the master data management, the 'golden record' of a core banking system. The parameterisable process management guarantees the banks an efficient and individual integration.

Client Master

The Client Master module stores a wide range of client data. This includes information about persons, addresses, communication tools, details of the client relationship, the relationship between client master records or the financial situation of the client. As a special feature, the functionality of the module can be extended bank-specifically with additional fields. Advisors have the possibility of performing a filtered search for clients according to various criteria in the system and thus of managing them along the lines of their current task.

Finnova Services Offering: Client master standardisation

In times of digitalisation and cost pressure, industrialisation of the banking business is becoming increasingly important, along with standardisation and automation of processes and outsourcing of partial processes. The standardisation of formats and data as part of the client master standardisation is a prerequisite for this. With the 'Finnova Data Management' service package of Finnova Services, we support banks in implementing the multi-layered requirements of the client master standardisation. Together with the customer, a tailor-made concept for data analysis within the customer's own client master data is developed as preparation, and possible enrichment and migration scenarios are checked. A detailed plan enables targeted implementation of the identified measures for improving data quality, thereby forming the basis for successful implementation of the client master standardisation.

Portfolio Balance Overview

A large portion of a client's account products can be generated and edited with the 'Portfolio Balance Overview' module. A client may have a number of accounts or custody accounts combined within one or more groups (portfolios).

Anti-Money Laundering

The Anti-Money Laundering module fulfils all requirements in relation to the client master concerning the anti-money laundering ordinance.

Card Administration

Different card types of a client can be managed, i.e. generated and processed, with the Card Administration module. A client can be assigned several cards with different limits, whether as a holder or an authorised representative. Using the multi-account function, several accounts can be allocated to the debit cards. The module comprises all business processes concerning cards, such as new orders, adjustments, geoblocking, ordering of replacement cards, card blocking, PIN reordering, complete renewal, and determining the field of application per account. Viseca debit and credit cards are displayed and can be blocked/unblocked. It is possible to order a replacement card or a PIN letter at the touch of a button.

Limits

The Limits module is provided for the real-time monitoring of external limits (client's limits) and internal limits (nostro limits) and monitors limits from the bank's perspective. The focus is on the following business events:

  • Definition of limits
  • Determination of withdrawal options
  • Management of amount notices

Tariffs

Tariffs is a central module in the Finnova Banking Software. It supports the modelling of banking products, i.e. tariffs for the different price components, substantially. The tariff scheme is applied for transaction-dependent and non-transaction-dependent transactions, such as for stock exchange transactions, the creation of the account balancing and the application of other fees.

Fees

Services which are not transaction-oriented are calculated and charged in the Fees module. The module covers a variety of fee types. The fees incurred are generally calculated by a batch process triggered periodically. The user then has the possibility to check the calculated fees and to make corrections, if necessary. Calculations can be performed for one or more time periods. Fees are then cumulated and ultimately charged. The user can view the fees incurred in the system at any time, and select the level of detail. The fees list includes, for example:

  • Package fees
  • Credit fee
  • All-in-one fee
  • Retrocessions
  • Custody account fee
  • Chargeable withdrawals
  • Document fee

Naturally, the Core Suite also enables the creation of the Swiss tax statement in electronic form. The electronically readable PDF417 barcode provides banks with partially automated processing without media disruption, from the bank (creation) to the clients (tax return) to the tax authorities (assessment).

German bank clients are provided with a functionality for creating the tax statement in accordance with German tax legislation in the Finnova system up to and including the 2017 assessment period. For the 2018 assessment period, or as of 01.01.2019, it is possible to obtain tax statements for Germany – and other countries if desired – from third-party providers. Finnova prepares consistent, high-quality data and makes it available to third-party providers for the generation of tax statements for the countries offered. In order to protect sensitive client data, address enrichment, printing, calculation of fees, dispatch, and archiving of the tax statement take place in the Finnova Banking Software.

The ‘Tax profile overview’ screen consolidates all tax-relevant topics of the bank clients. Compliance managers or client advisors can thus see at a glance which reporting obligations exist for their clients or which tax statements are generated for them.

Account Balancing

The Account Balancing module calculates and posts debit or credit interest accrued as well as any charges that are incurred on an ongoing basis but only debited periodically. Account balancing can be triggered periodically in a batch operation or manually (online). Several balancing types are available for this. Among other things, in addition to a real balancing, a balancing for information purposes can be created. The documents 'Account statement', 'Statement of interest and principal' and 'Record of fees' can be generated with this module.

Customer Relationship Management

The CRM module in the Core Suite provides advisors with comprehensive information and tools that define which products are tailored to the specific prerequisites and needs of a client. These parameters can be determined in detail and individually, which enables the establishment of a product, advisory and sales process that is tailored to the client's needs.

Various structured evaluations of the client profile and portfolio make it possible to ascertain which bank-internal products suit a client best. It is also possible to evaluate the sales potential of a certain product and to implement a sales campaign based on this.

The CRM module regulates the management of pending tasks and notes; it contains the client history and coordinates the client process with figures, data and facts. Thanks to a frequency of contact that can be individually determined, each client is regularly supported according to his or her needs.

The module allows banks to implement care standards, which makes it easier to form individual, sustainable client relationships. The Advisor Workbench (AWB) supports advisors in their dayto-day work. The corresponding description for AWB can be found in the 'Client Engagement Suite' section.

Tax

Finnova offers a comprehensive and integrated tax solution. In principle, there are two types of tax reporting: tax data that banks must deliver to the authorities or other bodies in the context of regulatory reporting requirements, for instance on the basis of agreements such as FATCA, AEOI (regulatory tax reporting) or SRD II, as well as tax statements for clients (individual tax statements). Banks have many obligations to comply with regulatory tax reporting. A fully integrated solution is provided in the context of the automatic exchange of information (AEOI) and FATCA. The respective indicia search run, the classification of bank clients in terms of reporting requirements, and the creation of the consolidated reporting file for the tax authorities are part of this in-house development. Reporting can take place on an aggregate basis at account or client level. A correction mechanism exists for reporting to the FTA.

The tax identification number (TIN) process enables audit-compliant documentation for unsuccessful obtaining of the TIN as well as annual pending task creation for repeat efforts to obtain information. Process control takes place via user-friendly input screens (GUIs). The Core Suite supports the disclosure of shareholders required by the EU in accordance with the EU 'Shareholders Rights Directive II' (SRD II). In the context of equity trading outside of the EU and the EEA, this directive also has an impact on financial institutions and their intermediaries. Tax statements for clients in accordance with Swiss law are created directly from the Core Suite with all necessary information.

For the purpose of flexibility, there is a separate data warehouse. It is possible to modify tax-relevant information and to enter rates and additional transactions. The Finnova application creates, prints and archives tax statements. The tax statement can be created at client level or on the basis of the portfolio in the standard. Tax statements are made available online for e-banking clients. If desired, key figures for the calculation of settlement fees can be made available to bank clients. The electronically readable PDF417 barcode provides banks with partially automated processing without media disruption, from the bank (creation) to the clients (tax return) to the tax authorities (assessment).

German bank clients are provided with a functionality for creating the tax statement in accordance with German tax legislation in the Finnova Banking Software up to and including the 2017 assessment period. For the 2018 assessment period, or since 01.01.2019, it has been possible to obtain tax statements for Germany – and other countries if desired – from third-party providers. Finnova prepares consistent, high-quality data and makes it available to third-party providers for the generation of tax statements for the countries offered. In order to protect sensitive client data, address enrichment, printing, calculation of fees, dispatch, and archiving of the tax statement take place in the Finnova Banking Software. The 'Tax profile overview' screen consolidates all tax-relevant topics of the bank clients. Compliance managers or client advisors can thus see at a glance which reporting obligations exist for their clients or which tax statements are generated for them.