SAP Releases SOA Based Modular Banking Solns

SAP AG has announced innovations to its industry-specific banking software that supports banks’ business processes from the front to the back office.

The comprehensive portfolio of modular banking solutions from SAP is based on service-oriented architecture (SOA) to enable banks extend their investments in existing systems for better operational clarity. The current portfolio includes enterprise management solutions and transactional banking solutions, as well as risk management and compliance solutions. Including enterprise services built-in specific to the banking industry, the SAP solution enables banks to significantly reduce the amount of time spent on daily tasks, as well as gives banks the opportunity to reuse the services for other channels, such as mobile, terminals and direct banking. With the newest improvements, SAP delivers significant innovations in new functionality and key features in the area of integration, service enablement and platform openness, including the following:

• Operational and Organisational Collaboration for Improved Customer Service
• Improved Loans Management
• Flexible Collateral Management for Changing Demands
• Better Meeting Basel II Requirements
• Pricing Package for Managing Credit Risk
• Integrated Financial and Management Accounting
• Banks Have Clear Path to Help Master Financial Crisis

“The new release of banking services is just the latest example of SAP’s ongoing commitment and investment to provide the leading banking platform available in the industry that enables our customers to truly innovate and transform their business and IT models,” said Don Trotta, Senior Vice President and Global Head of Financial Services industry, SAP AG. “Working closely with our customers, we have been able to incorporate a rich new set of features and functions in the release that will greatly help them address some of the most critical demands they are facing now - greater efficiency, flexibility to change, and better insight into their business and customers. This is why we have seen such momentum in the marketplace for SAP banking solutions over the past few years. With this new release, we see that momentum growing and accelerating as more banks understand what it can do for them.”