Breaking-Finance.Com - The venture arm of Swiss core banking vendor Avaloq has made a strategic investment in Raquest, a German software provider that helps banks process foreign withholding taxes digitally. The size of the investment was not disclosed.

.The German company's software promises to make it easy for financial institutions to get relief at source and reclaim withholding tax through automated digital processing. Alexander Lerch, CEO, Raquest, says: "I am convinced that Avaloq Ventures' experience and international network will help us expand and reach our strategic goals."

Source = Breaking-Finance.Com

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