While SAP has recently awarded partners for their outstanding performance, on the 5th of February, SAP SE has announced that the software giant bagged the first places in the Center for Financial Professionals FinTech Leaders 2020 Report.
The FinTech Leaders 2020 Report an annual release by an international research organisation, the Center for Financial Professionals (CeFPro). SAP was ranked first for core banking and accounting and treasury management categories. CeFPro also listed SAP as one of the top 20 in the overall fintech ecosystem as the 17th on the list.
SAP retained its first-place ranking in Accounting and Treasury category from last year. SAP previously placed second in core banking. The company also stepped a rank up in the overall Top 50 list.
The Center for Financial Professionals’ FinTech Leaders 2020 Report is, by far, the most rigorous among the programs that rank fintech industry leaders. Their coverage includes evaluating top fintech companies, solution providers, and vendors. The evaluation is usually based on gathered surveys from end-users, practitioners, and subject matter experts. The report generated by CeFPro comes from their market analysis and original research, which are backed by an advisory board the consists of 60 international industry professionals.
CeFPro’s Managing Director, Andreas Simou, shared that the CeFPro Fintech Leaders report cannot be compared to other industry reports because it is endorsed by 60 professionals with extensive knowledge and expertise in the field.
“In essence, this is an endorsement by the industry of SAP’s position within the fintech space.”
In the report from last year, Peyman Mestchian, the Chairman of the CeFPro FinTech Advisory Board, said that the FinTech marketplace is dynamic, multi-dimensional, and non-linear. He noted that the rankings are based mainly on a global voting system as well as a combination of end-user feedback with domain expertise; hence, the ranking should be seen as the “voice of the market.”
CeFPro also publishes research on the challenges, priorities, and trends in the industry, including advanced analytics and artificial intelligence as the main opportunities.