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Banca March offers tax simulator to allow customers to optimise the tax on their investments

09 December 2021 Category: Products

This is the first tool in the sector which includes a customer's entire investment portfolio.

  • The tool can include a customer's entire portfolio of products, allowing Banca March's managers to perform simulations and recommend the best investment decisions from a tax perspective. 
  • This is the first application in the sector which allows users to include financial positions held with other financial institutions, providing an accurate overview of each customer's overall situation. 

Banca March offers its customers one of the most comprehensive tax simulators in the financial sector, allowing them to optimise their investment decisions from a tax perspective. This is the first tool in the sector which includes a customer's entire investment portfolio and financial positions held with other financial institutions can also be entered, allowing for a comprehensive overview of each customer's overall financial situation.

Ángel Martínez Marañón, Managing Director of Banca March and Head of the Retail and Private Banking area, said: "Banca March has developed the most comprehensive tax simulator in the market, offering our customers the perfect tool to optimise the tax impact of their investments. We specialise in private banking, wealth management and corporate advisory and are committed to offering outstanding services from the best-trained professionals in the Spanish banking sector. To that end, we provide comprehensive advisory services to our customers, including financial, tax and insurance advice. This new tool will allow our managers to offer an enhanced service to our customers, guiding them on the most advantageous investment decisions.”.

The application, which was developed in conjunction with Analistas Financieros Internacionales (Afi) and Inversis, allows Banca March customers to calculate the annual tax liability generated through security sales and returns on all investment positions. It is also possible to include data pertaining to property transactions and other assets eligible for inclusion in the savings tax base.

Providing responsive, omnichannel advisory services 

Banca March is rolling out a digital transformation process as part of its #WeAreTransformation Plan, which is intended to improve the experience of customers and managers alike through responsive, omnichannel advisory services and generate enhanced operating efficiency thanks to continuous improvements to the bank's technology systems. Banca March is incorporating new functions at an intense pace to ensure it offers its customers complete satisfaction with the digital experience.

The incorporation of this tax simulator is yet another milestone in the digital transformation process underway at Banca March, which is being directly overseen by Deputy Chair of Banca March, Rita Rodríguez Arrojo. The bank developed the application in conjunction with Analistas Financieros Internacionales (Afi) – a consultancy specialising in finance and technology solutions aimed at enhancing customer interaction – and wholly-owned Banca March subsidiary Inversis – a Spanish market leader in global investment technology solutions and in outsourcing financial services to financial institutions, new players seeking to debut in the investment distribution business – which worked on the integration process. 

Banca March recently became the first Spanish financial institution to offer its customers a new voice biometrics system to authorise their banking transactions. This innovative service offers customers an easy way to authorise bank transfers quickly and securely.

Banca March has improved the digital experience it offers its customers by expanding its online banking investment tools. The new online investment banking service, with its own branding and specific content, allows Banca March customers to trade securities online simply and quickly, offering access to an investment universe of 40,000 instruments (shares, ETFs, funds and pension plans). It also affords access to detailed financial market information and research, as well as the Market Strategy Reports prepared by the bank's team of experts. Advanced management tools have also been integrated to allow users to perform technical and fundamental research to evaluate their investment decisions. Existing functions have also been improved, such as the advanced search function for funds, equities and ETFs, product factsheets and investment instrument comparison tools.

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