SAP is a Leader in Gartner’s Magic Quadrant for International Retail Core Banking

November 18, 2014 by SAP News 0

SAP NEWSBYTESAP SE (NYSE: SAP) today announced that it has been positioned by Gartner, Inc. as a leader in its Magic Quadrant for International Retail Core Banking* report for the eighth year in a row. Twenty global vendors were evaluated on two key parameters: ability to execute and completeness of vision. SAP is recognized as a market leader for both parameters within the Leaders Quadrant.

“In today’s competitive environment, retail banks are increasingly looking for ways to be more efficient and make it easier for customers to use their services through online and mobile channels,” said Falk Rieker, global head of Banking Business Unit, SAP. “SAP is proud to help financial institutions reach profitability and customer relations goals by providing core banking applications that support customer centricity, real-time processing and standardization while enabling faster product innovation. The core banking platform from SAP is based on a service-oriented architecture (SoA), and provides an industry-leading reference architecture. We believe our position in the Leaders Quadrant is evidence of our firm commitment to providing innovative technology solutions that support meaningful results for financial organizations and banks.”

The report “uncovers the leading strategies of these vendors and products, reveals their underlying product/service capabilities and affirms their relevance to changing conditions in the banking industry.” It “can assist CIOs by enabling them to focus on what matters most: the relevance of vendor and product attributes and their alignment with critical business strategies and technology trends.”

According to the Gartner report, “Leaders in the IRCB market tend to possess high-order market understanding — they make it their business to monitor market trends, funneling progressive innovation into their product road maps. About half of this group either possess software development quality certifications (such as CMMI) or are pursuing them. Without exception, the Leaders are progressively ‘thinking small’ or targeting component-based architecture as a gateway to providing increased accessibility to the granular functionality that banks need to drive the basis for differentiation.”

More than 12,200 banks in 142 countries rely on solutions from the SAP® for Banking portfolio to become more customer-centric across all channels, reduce cost and complexity and more easily manage regulatory and risk compliance. SAP for Banking is a comprehensive offering for streamlining core processes and producing new innovations in transactional banking, payments, personalized offers, risk analysis and more. The solutions are the direct result of the company’s more than 40 years of accumulated industry knowledge and a spirit of co-innovation where banks play a role shaping solutions to fit the realities of the modern-day banking institution.

The 2014 Gartner Magic Quadrant for International Retail Core Banking report can be assessed here. To learn more, visit the SAP for Banking page on sap.com and the Banking View blog.

For more information, visit the SAP News Center. Follow SAP on Twitter at @sapnews.

Media Contacts:
Birgit Dolny, +49 (6227) 7-61664, birgit.dolny@sap.com, CET
Britney Schaeffer, +1 (212) 453-2456, britney.schaeffer@fleishman.com, EST
*Gartner “Magic Quadrant for International Retail Core Banking” by Don Free and Ethan Wang, November 13, 2014

About the Magic Quadrant
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

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