VAT Solution for Banks & Financial Institutions

SunTec™, with its flagship product Xelerate®, enables financial services organizations to smoothly comply with VAT regulations. Pre-packaged with 200+ features, our out-of-the box VAT solution has been designed to react seamlessly to changes in VAT law, policies and practices.

37 banks and financial institutions, across India and the GCC, have recently partnered with us to comply with GST & VAT regulations. Among them are 5 of the top 8 banks in India and the largest banks in Saudi Arabia and U.A.E.

The market leaders in indirect taxation, SunTec™ is primed and ready to ensure greater efficiency and transparency in tax compliance.

 

 

A solution transcending markets

Partial Exemption in UK

Xelerate’s Digital VAT Solution has been designed to address the need of partial exemption and other VAT automation requirements at financial service organizations. With the need to recover partial exemption manually becoming a huge investment for banks, Xelerate® is well equipped to automate partial exemption calculation, minimise manual errors and thus plug any tax leakage on the input tax banks can recover.

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VAT in GCC (Gulf Cooperation Council)

Xelerate® is uniquely designed to be an over-the-top (OTT) solution and can easily integrate with the bank’s existing technology landscape. The out-of-the box and end-to-end GCC VAT solution has been designed to de-clutter core engines, bring out the indirect taxation logic and ensure banks’ smooth journey towards GCC VAT compliance.
15 banks, across GCC, have partnered with us recently to comply with the newly launched GCC VAT (Value added tax) regulation. Among them, the largest Islamic bank in the world, the largest bank in the Middle East and the No. 1 banks in Saudi Arabia and U.A.E.

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Get in touch with us now to get VAT ready before it is too late

SunTec Advantage- Find out how leading financial services providers from GCC countries have leveraged our VAT solutions.

SunTec helped one of the top banks in the Emirates region become VAT compliant with its out-of-the-box solution

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SunTec helped the largest Islamic Bank in the world, and the largest bank in Middle East by customer volumes, become VAT compliant within 3
months.

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SunTec helped UAE’s largest private sector bank, with total assets worth AED 125 billion, become VAT compliant, across 25+ applications, with its out-of-the-box solution VAT solution

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300 million
end customers

15 billion
successful transactions

45 countries
and growing