More recent additions
At a corporate level, an important development was the acquisition of Business Objects, announced in October 2007, leading to a plan to integrate the reporting tools and dashboards gained with this company with SAP’s core banking systems. It was also working on a banking specific version of an operational risk solution, Governance Risk and Compliance (GRC), and integration of this with Bank Analyzer, with the Business Objects tools in front of both. SAP has also come up with a high performance platform, HANA, which stems from its major acquisition of Sybase and includes in-memory features and compression
facilities.
SAP and partners can build applications on top of this, with suggested areas of attention being liquidity management and fraud management. Of the 500 sales in the first year, apparently 20 to 30 were in banking. At SAP’s Sapphire user group meeting in Madrid in mid- November 2012, the company launched SAP 360 Customer Experience, which combined CRM (SAP had previously some wins solely for its CRM system, with one of these coming in 2006 at Petrocommerce, one of Russia’s largest banks), cloud, HANA, analytics and elements of social media. While cross-vertical, banking is one target market for this. SAP was also taking existing banking applications and moving them to HANA, with Bank Analyzer on the roadmap.
The supplier also unveiled its Financial Services Network
(FSN) in 2012. SAP claimed to have 85 per cent of the Forbes 500 companies as customers. Its plan is to set up a ‘cloud-
Takers of Deposits Management
Functionality of the core banking system spans retail products: Current accounts (including checks and debit cards), savings accounts, notice accounts, fixed-term deposits accounts, combination products such as offset-accounts, supported corporate products, deposits accounts, investment accounts. There are multi-level hierarchies for participating contracts with specific purpose: global limits and sub limits, cross-account funds validation, multi-level national pooling, national pooling, multi-bank interest calculation, ZBA and ABT intraday and per end of day, trigger and target sweeps, investment sweeps, multi- bank sweeps, cross-border and FX sweeps. Users can create and manage customer accounts, process customer account
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based network’ between these and the banking sector for payments, based on a small monthly fee for corporates, potentially with some form of transaction-based charges as well. General availability was scheduled for Spring or Summer 2013. There looked as though there would also be an e-commerce aspect to the plans, potentially through SAP’s acquisition of buyer-seller collaboration network, Ariba, for $4.3 billion, with this closing in October 2012. There was a roundtable at Swift’s Sibos show in Osaka at the end of October 2012 and notable was the number of major banks lined up behind SAP’s initiative. Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi (BTM), Citibank, Deutsche Bank, Nordea, RBS and Standard Chartered went public on their intentions to support FSN. FSN has moved slowly, with Citibank finally announced as the first live customer, in September 2014, to be followed by Visa. No other banks were signed at this stage although those that had previously professed an interest were apparently still in the frame. BB&T is replacing its ageing infrastructure with a new consolidated financial and reporting system. Some of the new architecture is very recent. March 2015 saw the implementation of plan- ning and forecasting, while liquidity ‘phase 1’ was introduced in April. Both of which were rolled out on SAP’s Hana platform. In terms of the number of actual user issues across its 18,000 users, the corpo- ration reported 476 of them in three legal month-end cycles and two forecast cycles in SAP’s BusinessObjects Planning and Consolidation- (BPS) solution.
transactions and manage account balances. They can also perform periodic account settlement, including interest and fee calculations and postings. After a relatively quiet 2003 with the new core system, while the focus was on the implementation at Postbank, sales efforts were ramped up in 2004, with SAP seeking to take a consultancy-led approach based on an overall architecture and bank-wide re-engineering. Over the next few years, it was a scatter-gun approach, gaining deals of all sizes in a wide range of countries. It then struggled to deliver these and hit a number of problematic and, on occasions, failed projects.
Among the biggest projects were those at Standard Bank in South Africa, for its domestic retail operations; China Minsheng Banking Corporation (CMBC) in China; Nationwide
US Financial Services Technology Market Report |
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