NAB Asset Servicing (NAS) provides customer, back office and middle offer services for a range of funds and trusts with the preparation and analysis of tax data for ATO reporting.
By partnering with GBST’s TaxIntell platform, NAS will be able to calculate and produce investment tax results and allow funds and advisers to collaborate via a secure and auditable online portal.
The digital interface, built on GBST’s Catalyst framework, will support data collection and allow for greater ease of submission to the ATO.
Executive general manager of NAS John Comito said choosing GBST was an example of putting customer experience first and using technology to address the changing needs of clients.
“The platform is the first of its kind in our industry and we look forward to sharing it with our clients who use our tax reporting services,” Mr Comito said.
“The new level of transparency in viewing transactional tax data will enable our clients to actively monitor and report on their investment portfolio, which is critical in the current challenging economic environment.”
Chief executive and managing director of GBST Robert DeDominicis said he was delighted to partner with NAS and was working closely with it to establish an industry-leading reporting approach.
“With funds under pressure to improve service and returns, getting tax reporting right can unlock significant time and cost savings so they can focus on their customers,” said Mr DeDominicis.
“We’re investing in our tax solutions and working with many leading funds, custodians and trusts to help them innovate in this area.”
Eliot Hastie is a journalist on the wealth titles at Momentum Media.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).