SAP offers digital banking capabilities for payment and small finance banks

SAP India has announced the availability of SAP financial services solutions specific to payments and small finance banks. SAP’s expertise and capabilities accompanied by Reserve Bank of India’s (RBI) nod to non-banking entities to set-up payments and small finance banks, will provide a major push in the much required digitization of the Indian banking sector. [caption id=“attachment_1996943” align=“alignleft” width=“380”]  Image: Reuters[/caption] The company’s global expertise, resources, capabilities and scalability make it one of the most preferred and reliable digital enabler in the country. Financial inclusion and banking the huge unbanked population in India will assist families, individuals and whole communities to lift themselves towards prosperity. “Digital banking will make financial services more accessible and affordable to the unbanked population. Banking the unbanked with innovative solutions underpins SAP’s vision of a technologically streamlined world that will improve people’s lives.” said Deb Deep Sengupta, Managing Director, SAP India. For the Indian market, SAP plans to bring the digital core banking solutions set including the mobile wallet which are designed to provide a holistic platform that will cover mobile banking, analytics, digital customer experience and commerce. The payment and small banks will be able to quickly deploy mobile financial services to previously unbanked customers in remote geographies. SAP solutions are built to integrate various entities in the banking ecosystem like agent/partner networks to extend its reach through feature phones, smart phones, and online portals.