With an impressive growth of 7.5% in 2010 and a strong currency, Brazil is moving up in global economic rankings. In fact, it recently overtook Italy as the world’s seventh largest economy. And now the country is preparing to host the 2014 World Cup and the 2016 Olympic Games in Rio de Janeiro. Brazilian banks are getting into position too, as they reengineer critical processes and set up new infrastructure and services to accommodate anticipated growth.
Two Brazilian banks – Banco Regional de Desenvolvimento do Extremo Sul (BRDE) and Banco Intermedium – are moving forward with their plans for expansion. Both banks have selected SAP for Banking solutions to support them in the years ahead.
As part of its modernization project, BRDE plans to deploy the entire SAP platform, including SAP ERP and core banking solutions. The goals of the project include consolidating processes to increase the bank’s competitiveness and improving customer channels, including Internet-based services. The implementation project is scheduled to take two-and-a-half years, with the expected outcome that the bank will be well positioned to handle its long-term growth.
Banco Intermedium, from Minas Gerais, also selected SAP to cope with the demands of its expansion. The bank recently became an authorized financial agency of home loans for Minha Casa Minha Vida (My House, My Life), a government-sponsored social housing program to encourage home ownership among Brazilians. The implementation of SAP for Banking is being done by Original Technology, an SAP partner.