New Zealand’s fastest growing bank opts for SAP as platform for sustainable growth and improved customer service.
Wellington, New Zealand — SAP today announced that Kiwibank, a wholly owned subsidiary of New Zealand Post and the country’s largest locally-owned bank, has chosen the SAP for Banking set of solutions to serve more customers and enable its IT systems for the bank’s next wave of expansion.
With its core banking implementation, Kiwibank aims to enable long-term, sustainable growth, lower risk and strengthen its strategic significance as a premier financial services provider to New Zealand.
The SAP for Banking solution portfolio is designed to support Kiwibank’s processes and improve the customer experience for retail-banking products and services. The SAP solution also introduces enterprise-wide standardised processes designed to increase efficiencies and lower operational costs. With the new platform, Kiwibank can also expand its portfolio of financial services.
“We are looking to the future growth of the bank and to make sure we have the right back-office systems and infrastructure to support our strategic plan,” said Paul Brock, Kiwibank Chief Executive. “The core system upgrade project will take place progressively to avoid any disruption to existing services, but ensure the bank has the capability to manage growth and increasingly-complex technological advances in the banking industry.”
“We are excited to become part of Kiwibank’s success and innovation story, and look forward to continually delivering value to the bank and to their customers through long-term strategic partnership and the SAP for Banking set of solutions,” said Graeme Riley, Managing Director, SAP New Zealand.
SAP for Banking is a comprehensive offering for streamlining core processes and producing new innovations in transactional banking, payments, personalised offers, risk analysis and more. The solutions is the direct result of SAP’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.
IT analyst firm Gartner has positioned SAP in its “Magic Quadrant for International Retail Core Banking” report for seven years in a row. In the current report, SAP is once again recognized as a market leader for both its “ability to execute” and “completeness of vision” for its retail core banking solution.
About SAP for Banking
SAP supports 17,240 financial services institutions in 142 countries. These include more than 12,248 banks and 81% of the banks in the Forbes Global 2000. SAP is in a privileged position to serve financial services brands such as Nationwide Building Society in the UK, Standard Bank of South Africa, Commonwealth Bank in Australia, Deutsche Bank in Germany and many others, now including Kiwibank.
As market leader in enterprise application software, SAP helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP’s software and services enable more than 253,500 customers to operate profitably, adapt continuously, and grow sustainably.
SAP operates with offices in 50 countries worldwide. This includes more than 100 employees across offices is Auckland and Wellington serving hundreds of customers of all sizes and industries throughout New Zealand.
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