Scivantage Wins BISA Technology Innovation Award for Third Consecutive Year
The company was recognized for its newest solution, Tax Analytics, a digital suite of tools to assist advisors and investors in making educated tax decisions to help achieve long term goals.
JERSEY CITY, N.J., March 10, 2020 /PRNewswire-PRWeb/ -- Scivantage®, a SaaS provider of Digital Wealth Management and End-to-End Tax solutions (including Cost Basis and Information Reporting), is pleased to announce its Tax Analytics solution received the 2020 Bank Insurance & Securities Association (BISA) award for Best Technology Innovation Solution. The award recognizes companies that are leaders in the advancement of the financial services industry's products, services, and platforms through technology innovation.
Tax Analytics is a platform-agnostic set of tools combining financial firms' cost basis data with advanced portfolio analytics, providing advisors and investors with actionable opportunities to minimize taxes and maximize after-tax performance.
Tax liabilities represent the largest cost to investment portfolios yet have largely been ignored due to how complex it is to identify specific opportunities for tax efficiencies that benefit portfolio growth. To address this, Scivantage's Tax Analytics solution provides advisors and their clients with a comprehensive set of tools for extracting tax alpha from their portfolios. The platform goes far beyond the typical, sporadic year-end tax loss harvesting tactics, to identify, analyze and characterize year-round opportunities for avoiding trading tax traps, as well as providing insights into actionable tax reduction trades that may otherwise be overlooked.
Scott Freeland, Chief Delivery Officer at Scivantage said, "We are honored that BISA has once again recognized our innovations in the marketplace. We continue to focus on our mission of innovation to address the evolving needs of our clients and the financial services industry. Striving to stay a step ahead of the market, Scivantage helps financial institutions address the changing needs and expectations of their customers to achieve success through marketplace differentiation and growth. Our Tax Analytics solution is one example of how we help our clients strengthen the Advisor/Client relationship that is key to their business development."
Tax Analytics will be available through Scivantage's Digital Developer platform. Digital Developer provides a set of integrated APIs and front-end development tools that enable financial services firms to build or enhance their advisor digital experiences by leveraging ready-to-deploy web and mobile components.
The 2020 Technology Innovation Award was presented to Scivantage during the BISA Annual Convention in Hollywood, FL on March 5th.
About Scivantage
Scivantage®, now part of the Refinitiv solution set, is a SaaS provider of Digital Wealth Management and End-to-End Tax solutions (including Cost Basis and Information Reporting). Scivantage was acquired by Refinitiv, one of the world's largest providers of financial markets data and infrastructure, in a deal that closed earlier this month. With proven expertise in online brokerage, tax and portfolio reporting, and wealth management applications, Scivantage delivers intelligent and actionable information that goes beyond the boundaries of traditional financial software, helping improve investment decisions. Leading financial institutions, including broker-dealers, mutual fund companies, bank custodians, trust and prime brokers, depend on Scivantage's cloud-based technology to achieve critical business insights, generate new revenue and build stronger customer relationships. For more information, please visit https://www.scivantage.com or contact us at +1.646.452.0050
SOURCE Scivantage
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