SAP enables real-time banking with new release

banking

SAP has released a 9.0 version of banking services, which it says will enable banks to implement a real-time, fully digital business model.

Using the SAP HANA platform, this version of the solution allows banks to join data streams and conduct live analysis, enabling them to gain insights from preexisting and new data, wherever it is stored.

“With mounting demands to run their organisations more efficiently, achieve new product innovations faster and provide more personalised service to customers, banks are in need of a new technology backbone that can support all of these tasks simultaneously,” said Falk Rieker, global head of the banking business unit, SAP.

“Banking services 9.0 create a digital core, unifying the entire banking lifecycle and setting banks up to be more agile in their business transformation. Banks can go beyond traditional transaction processing and drive end-to-end digitised processes based on a single source of information from planning and execution to prediction and analysis, all in real time, providing a superior customer experience.”

The new release will enable banks to gain a complete cross-entity view of customer information, establish a single catalogue of products, create bundled product offerings with relationship-based pricing models, and unify risk and finance solutions, including accounting for financial instruments, profitability analysis, credit risk management and liquidity risk management on a single platform.

Banking services 9.0 can also be operated in a cloud environment such as SAP HANA Enterprise Cloud.

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