Assisting a leading banking global information centre (GIC) with end-to-end Operate solutions for indirect tax
Operate | Tax
The challenge
Headquartered in the UK, the client is a leading bank offering retail, wholesale, and commercial privateand investment banking solutions to customers across Europe, Asia, the Middle East, and the Americas.
The bank operates a global capability center (GCC) in India which provides best-in-class services encompassing core banking, technology, and technology-enabled services to their customers globally. The client aimed to focus on core business operations by managing costs and enhancing efficiency in tax and SEZ/STPI-related operations. Therefore, the client was looking for a new-age, sustainable solution, based on tax expertise, and an agile business model that could serve as an end-to-end solution.
The solution
Based on our comprehensive tax and SEZ/STPI Operate solution, we proposed addressing the client’s bandwidth and effort concerns in operating and maintaining critical processes and applications.Deloitte offered to deploy a capable and experienced team with the required skillsets to collaborate and execute specific processes for the client. Furthermore, to enhance efficiency, Deloitte added value through its tax expertise, best-in-class technology and automation solutions with reduced processing time and greater accuracy, and insights from its experience in delivering similar projects.
The outcomes
This project was floated as an RFP to all Tier 1 organisations in India. Deloitte’s coordinated and strategic approach resonated well with the client as a key differentiator despite another Big Four firm being the incumbent and, therefore, it was firmly entrenched and naturally expected to win this job. This win gives us a significant credential boost, not only in theforeign banking Operate space, but also in the GIC Operate space.
