WALLDORF — SAP SE (NYSE: SAP) today announced that Valley National Bank (Valley Bank) has chosen SAP S/4HANA Cloud to power its digital transformation journey and obtain more meaningful business insights.
EY, a global leader in assurance, tax, transaction and consulting services, will help implement the solution —which will replace Valley Bank’s previous financial systems. The combination of EY teams’ industry and business acumen with SAP’s advanced technology solutions will help Valley Bank become an intelligent enterprise, gaining the agility needed to thrive in the finance industry.
Valley Bank is a regional bank and principal subsidiary of Valley National Bancorp (NASDAQ: VLY) headquartered in New York, N.Y., with approximately $42 billion in assets and 200 branch locations in New Jersey, New York, Florida and Alabama. The financial institution, offering both retail and commercial banking services, chose SAP S/4HANA Cloud to eliminate the current extensive manual workflow processes and reconciliations. With stable architecture, high integration and predelivered best practices, SAP S/4HANA Cloud will allow Valley Bank to make data-driven decisions based on meaningful insights, rather than spend time on manual processes.
“We provide personalized service and custom solutions so our customers can make smarter, safer and more convenient money-management choices,” said Valley Bank’s SEVP and CFO, Mike Hagedorn. “Making this journey to digitally transform our financial systems enables us to better deliver on this goal. With SAP S/4HANA Cloud, we’re able to achieve more, faster, which will be critical to keep pace with our customers’ expectations.”
Visit the SAP News Center. Follow SAP on Twitter at @SAPNews.
Media Contact:
Stacy Ries, +1 (484) 619-0411, stacy.ries@sap.com, ET
SAP Press Room; press@sap.com
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.
© 2020 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices.
