Scivantage is an independent financial technology provider with proven expertise in online brokerage, tax and portfolio reporting, and wealth management applications that automate and integrate key business practices for broker-dealers, mutual funds, custodians and prime brokers. Scivantage’s back-office independent solutions enable institutions and financial professionals to dramatically reduce operational costs, strengthen customer relationships and improve […]
While Phase III Cost Basis Reporting regulations were implemented in January 1, 2014, firms are still grappling with the operational toll of compliance, particularly as it relates to simple debt instruments. In this in-depth FinOps Report piece, industry expert Bob Linville, Director of Product Management at Scivantage, takes a focused look at the final phase […]
Watch our latest video featuring Scivantage Maxit®, an Automated Cost Basis, Tax Management and Portfolio Reporting Solution. Maxit is proven to reduce firms’ operational costs and enhance client experience by delivering the highest industry accuracy rates and unmatched reconciliation services, all while exceeding compliance requirements.
Scivantage is honored to have been nominated for the 2014 FTF News Technology Innovation Awards for Scivantage Maxit® in the category of Best Regulatory Compliance Solution; and Scivantage Investor™ Mobile in the category of Best Cutting-Edge Solution. Presented by Financial Technologies Forum and FTF News, the Technology Innovation Awards recognize information technology firms and service […]
By Isabella Fonseca, Research Director, Wealth Management at Celent Bio: Isabella Fonseca is a research director within Celent’s Wealth Management group. Mrs. Fonseca’s current research focuses on wealth management technology in both Europe and North America. Mrs. Fonseca has extensively covered topics on wealth management trends, retail brokerage, financial planning, advisor platforms, and cost basis reporting. […]
As cost basis reporting regulations inch towards their final phase, firms are now looking beyond compliance and searching for new and innovative ways to get the most out of their investment. From total cost of ownership initiatives to maximizing the value of the data, cost basis reporting has financial institutions reevaluating their overall strategy to […]
One of the provisions of the Emergency Economic Stabilization Bill of 2008 required financial intermediaries to report adjusted cost basis information to their clients and to the IRS. In response, financial services firms rushed to put in place major system upgrades in their cost basis reporting systems, only to find that the solutions they chose were not necessarily scalable […]
Phase III of the U.S. Internal Revenue Service (IRS) cost basis reporting (CBR) regulations, which were announced in April 2013, have several staggered effective dates that will have varying levels of impact on brokers. In order to encourage open discussion about what the rules really mean and how we can help our clients decipher them, Scivantage recently held an interactive panel event for the CBR community to provide clarity on the fixed income and options regulations ahead of the effective date of Jan. 1, 2014.
Event participants got a chance to hear from distinguished industry experts. Led by Dan Mayo, Principal of KPMG, the panel also included Paul Dumas, Manager of Tax Operations at Scotiabank; Arthur Wolk, Senior Vice President of Product Strategy at SunGard Wall Street Concepts; and Phillip Varghese, Vice President of Investment Reporting at Scivantage. Cameron Routh, Executive Vice President of Corporate Development at Scivantage moderated the discussion, which covered …
Scivantage is honored to be acknowledged for the second year in a row by Financial Technologies Forum, LLC for our contribution to the securities trading and operations space. Scivantage Maxit® has been shortlisted by FTF for this year’s BEST COMPLIANCE SOLUTION FOR OPERATIONS. Being recognized for our work on the continued development of Maxit, the […]
Turn tax compliance into a strategic strength. Cost basis reporting is one of the biggest operational challenges facing financial institutions today. With mandatory cost basis reporting requirements continuing to roll out and the increased complexity of corporate action events, financial institutions are reevaluating existing systems and processes to ensure they are keeping pace with the changing […]