Bricknode has released a tax reporting app for the platform Bricknode Financial Systems in order to streamline tax reporting for financial institutions.
Tax reporting involves generating tax verification data and tax filings for local tax agencies and is one of the most resource consuming areas of the financial industry. In order to keep up with changing regulations and legacy back office systems the consultancy costs has exploded. For numerous years Bricknode has worked with several brokerage firms, fund companies and other financial institutions. By doing so, Bricknode has been able to analyse the most significant areas where this could be improved. The result is a new add-on application that Bricknode is launching today within its marketplace that will automate tax reporting while offering a high level of control for its users.
Bricknode wants to help individuals and companies to improve their financial lives. Bricknode does this by bringing new financial services to the market. Bricknode offers a cloud based platform and ecosystem for partners who share the same values and beliefs.
Bricknode aims to be the premier ecosystem within finance as a platform provider for financial institutions, FinTech innovators, app developers and consultants.
“For a long time we have been frustrated with the fact that our customers have had to pour a lot of resources after the end of each year into tax reporting without having access to any great tools. More often than not the back office staff has been forced to work directly with software developers in order to complete their tax reporting. With today’s launch we should be able to save hundreds of hours of work for our customers,” says Stefan Willebrand, CEO and Co-Founder of Bricknode.