Technical terms and abbreviations

  • Flat-rate withholding tax - the so-called "flat tax" was introduced on the 1st of January 2009 in Germany. It is a withholding tax on private investment income and capital gains. Taxpayers are taxed at a rate of 25% regardless of the size of their income.
  • CCP – Central Counterparty for Equities
  • Coaching - Coaching is often referred to as a form of advice to improve personal learning and performance skills. This includes goal oriented and solution driven counseling and training of employees’ skills.
  • Core Banking - Core Banking basically includes all depot operations and asset transactions (e.g. credit lending) of a bank – from the management of savings accounts, and payment transactions to loans and mortgages. For this purpose banks provide different services such as online banking, ATMs and local offices.
  • Data Mapping - Data Mapping refers to processes that link different data models with each other and thereby reveal the fundamental relationships between data models. Data mapping is a key component of data integration.
  • DP-Design/Concept - Data processing concepts incorporate all the relevant technical data and processing steps needed to implement software. It includes the design of the software architecture and workflow with an exact description of input and output data.
  • FATCA - Foreign Account Tax Compliance Act. With this part of a US-Law from 2010 the US-Tax-reporting by foreign financial institutions will be more tightened.
  • Merger – A merger denotes the fusion of two or more firms to form a business entity. The trend towards mergers in the public and private sector is increasing especially after the financial crisis.
  • FX Trading - The foreign exchange market is a decentralized OTC trading platform for currency trading. Currency transactions include FX spot transactions, forwards, swaps and options. The bulk of currency trading takes place off-exchange in the interbank market.
  • GAP Analysis – A GAP Analysis is used to detect and evaluate strategic and operational discrepancies i.e. the gap between the actual operating performance and the potential operating efficiency of a business entity. GAP analyses are based on future projections and scrutinize the achievement of future business objectives by examining the difference between business requirements and current services/output.
  • GEOS - The Global Effects Online System (GEOS) is used as a tool for security settlement. It serves as an IT settlement and management system for financial instruments and contracts with an emphasis on straight-through processing. GEOS covers the entire value chain in the securities business and is offered by Software Daten Service (SDS).
  • High Potential – High Potentials refers to people that deliver high performance and also exhibit a high potential for personal development. For the optimal project manning we have set up a screening process to ensure that our customers always get the best consultants for their project requirements.
  • IAS – International Accounting Standards
  • ICSD – International Central Securities Depository
  • Interim management - Interim management (also called part-time management) includes a limited implementation of business management staff during a transitional period, crisis or organizational restructuring.
  • Investment banking - Investment banking denotes the business activities of investment banks including the trading of securities, management of assets, support for  raising capital through mergers and acquisitions, and investment transactions on financial markets.
  • Year-end Reporting - Year-end financial reporting provides information about the financial situation of a company upon the completion of bookkeeping and accounting. The annual report forms the basis for the calculation of a company’s taxation and dividend payout ratio.
  • Kordoba - Kordoba is a core banking system based on software that enables electronic processing and settlement of core banking activities.
  • MaK – Mindestanforderungen an das Kreditgeschäft der Kreditinstitute
  • MaRisk - Mindestanforderungen an das Risikomanagement
  • Middleware - Middleware applications serve as neutral programs and distribution platforms in complex software systems and enable data exchange with otherwise separate software components. Thus middleware applications offer a link between various stand-alone software applications.
  • MiFID – Markets in Financial Instruments Directive
  • Outsourcing - Outsourcing refers to the sub-contracting of corporate services (jobs, activities, etc.), which were previously internally executed, to third parties. MaRisk (Minimum Requirements for Risk Management) prescribes strict conditions for the outsourcing of credit and financial services institutions in Germany.
  • Project Management Office - A Project Management Office (PMO) is responsible for administrative tasks such as supervision and coordination within a project. In addition, a PMO can also be in charge of, among others, project portfolio management, project audits, project management training and knowledge management.
  • Process Analysis - The recording / documenting and analyzing of business processes is called process analysis. Process analysis is performed to minimize work and to reduce costs while implementing measures to make processes more effective and efficient. This is also referred to as process optimization.
  • Quality Management - Quality Management (QM) includes all measures aimed at optimizing all processes, products and services. Process management is an important part of quality management for the creation of lean processes across the value chain.
  • Risk management - Risk management involves the systematic identification, collection, evaluation and prioritization of risks and subsequent corrective measures to minimize it.
  • Service Desk – The Service Desk is an important point of contact for all service requests and acts as an intermediary between customer requirements and implementation undertaken by the service provider.
  • SPOC – Single Point of Contact
  • Straight-through processing - straight through processing characterizes an entire trading process that is carried out by electronic means with minimal interaction effort i.e. without re-keying or manual intervention. STP is used to minimize operational and systemic risks and also to reduce operating costs.
  • System Re-engineering - System Re-engineering refers to the fundamental change or renewal of production processes in businesses. In our context it is mainly focused on changes in banking systems whose results are measurable improvements in key performance indicators in areas such as cost, quality, service and time.
  • System implementation - system implementations are software-based applications of computer programs and programming.
  • Test Management - Test Management involves the management and testing of applied automation software. Test management tools usually generate so-called test matrices, which give important indications about the functionality of a System under Test (SUT).
  • Transaction Banking - Transaction Banking refers to specially designated back-office services, which were removed from the organizational and technical value chain of a financial services company. Transaction banks act as securities service providers between credit institutions and the stock market and also offer their securities settlement systems for these financial institutions to permit low-cost and fast securities settlement.
  • Treasury – the Treasury in banking deals with Treasury Management. Cash and liquidity management are part of treasury management as well as any financial planning, improvements to the bank's balance sheet structure and risk prevention.
  • Use cases - A use case is a systematic listing / description of all possible and substantive steps / scenarios that can occur to a user when using of a program to achieve a specific functional goal.
  • Workflow Management - Workflow Management is the systematic collection of work and business processes - so-called "workflows". It provides information and technical assistance and thereby supports the automation of processes.