Farm Credit Canada Banks on SAP for Growth

January 31, 2007 by SAP News

The SAP Loans Management application is a key part of FCC’s five-year plan to eliminate the corporation’s existing single-purpose IT applications, which have reached their limits in terms of functionality and integration. “Our loan portfolio is the backbone of our organization and our legacy loans system is ready for renewal,” said Paul MacDonald, senior vice president and chief information officer for FCC. “We are taking a long-term view with our IT development, so we’re selecting gold-standard solutions and building robust, scaleable systems to manage and accelerate our growth while improving our operational efficiency and loan administration.”
The SAP Loans Management application, part of the SAP for Banking solution portfolio, will provide FCC with a comprehensive and integrated means to track the entire life-cycle of its loans, from origination to acquisition and maintenance. The application includes functions for loan administration and monitoring, the handling of payments and other transactions, and the management of bills and related statements. The SAP Loans Management application is also designed to handle the large amounts of data concerning customer loans and contracts. This extensive functionality enables financial organizations such as FCC to focus on strategy, results and growth.
The SAP Loans Management application, delivered through mySAP ERP 2005, is also designed to allow FCC’s 1,200 employees to provide an extraordinary customer experience through a more efficient loan transaction process. “We process loans in our 100 locations across Canada primarily in smaller, rural communities,” said MacDonald. “Through the SAP Loans Management application, we will enhance our customer experience across the country by automating processes and solutions that will have the built-in-flexibility to quickly adjust to our customers’ ever-changing business needs.”
FCC is a recent addition to SAP AG’s stable of more than 600 financial services customers in 60 countries worldwide. Other SAP customers in the financial services sector include ABN Amro (Netherlands), Banco del Bajio (Mexico), Banesco Banco Universal (Venezuela), Belarus Bank (Belarus) and Center-Invest Bank (Russia). “Financial services firms compete in a fast-changing, complex and regulated business environment. Mindful of those factors, financial firms require efficient, flexible business systems that enable them to differentiate their offerings, gain competitive advantage and provide the exceptional products and services expected by their customers,” said Robert Courteau, president and managing director, SAP Canada. “By choosing SAP solutions, FCC reinforces the added value that SAP brings to respected banks and financial firms around the world, and as importantly, to their customers.”

Source: SAP AG

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