SAP Releases Comprehensive IT Platform For Banks

SAP AG has announced the general availability of the 8.0 release of Banking Services, the latest edition of a banking platform for IT innovation from SAP. A comprehensive and fully realised offering, the latest release helps banks face the new realities of compliance, mergers and acquisitions (M&A), real-time transactional banking and advanced risk analysis. Over 100 banks worldwide successfully run or are in the process of implementing the platform.

“The future of transactional banking is service-oriented architecture-based systems,” said Suprakash Chaudhuri, Acting Managing Director, SAP India. “The 8.0 release represents the type of forward-looking platform that today’s banks need to better engage with their customers and drive innovation while reducing costs.”

The latest release of banking services from SAP contains a comprehensive suite of financial tools that applies integration and analytics on top of risk and compliance and core banking, supported by over 1,000 trained consultants and experts. The latest release covers key capabilities for flexible and extensive processing of deposits and loans products for retail and commercial banking, including advanced cash management, product bundling and relationship pricing, advanced collateral handling for loans and mortgages, high-volume processing of payments and proactive management of credit risk, including stress testing to meet changing regulations and help increase transparency of enterprise-wide risks.

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