Sydney — ABN AMRO has extended its relationship with SAP to include banking industry-specific software for the management of client account information across its global cash management operations. A signing ceremony will be held today at Sibos 2006, being held in Sydney, Australia, October
9 – 13.
Deposit management, financial customer information management and reporting functionality from the SAP® for Banking solution portfolio will enable ABN AMRO to centralise the management of account portfolios for its multinational clients. This will provide a single view of global account structures and enable, for example, global management of credit limits.
The single platform will also strengthen ABN AMRO’s existing outsourcing offer to other financial institutions, which includes white-labelled front-end services and other partnership opportunities, by simplifying and standardising the interfaces necessary to support this business.
“SAP’s technology will give us the flexibility we need to manage future change,” said Edward Glassman, Managing Director, Global Transaction Delivery, Transaction Banking, ABN AMRO. “Adaptability will be a key requirement for transaction banking in the future as banks position for changes to market infrastructure, such as the Single Euro Payments Area (SEPA) in Europe.”
“ABN AMRO is further standardising its cash management operations with SAP and is leading the industry in moving to a single account management platform” said Thomas Balgheim, senior vice president, Financial Services, SAP AG.
Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 986 bln (as at 30 June 2006). It has over 4,500 branches in more than 53 countries and has a staff of over 110,000 full-time equivalents worldwide. ABN AMRO is listed on Euronext and the New York Stock Exchange.
ABN AMRO Transaction Banking delivers cash, trade and card products and services to corporations and businesses, financial institutions, retail customers and private clients globally. These services are available in some 3,000 locations in over 60 countries, including LaSalle Bank in the US and Banco Real in Brazil. Underpinning this extensive global network is integrated technology supporting billions of payment, trade and card transactions every year. Global scale, a commitment to continuing product and service innovation and an in-depth understanding of local and global markets are key components of our offer.
SAP is the world’s leading provider of business software*. Today, more than 34,600 customers in more than 120 countries run SAP® applications—from distinct solutions addressing the needs of small and midsize enterprises to suite offerings for global organizations. Powered by the SAP NetWeaver® platform to drive innovation and enable business change, SAP software helps enterprises of all sizes around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP solution portfolios support the unique business processes of more than 25 industries, including high tech, retail, financial services, healthcare and the public sector. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol “SAP.” (Additional information at <http://www.sap.com>)
(*) SAP defines business software as comprising enterprise resource planning and related applications such as supply chain management, customer relationship management, product life-cycle management and supplier relationship management.
About SAP for Banking
SAP for Banking is a solution portfolio that combines mySAP™ Business Suite applications and tailored functionality to meet the unique demands of financial institutions. With more than 600 customers in 60 countries worldwide, SAP for Banking provides an integrated set of tools and automated processes to manage every aspect of the front- and back-office banking environment—from high-volume transactional banking processes and customer relationship management to financial accounting, cost controlling and profitability and risk analysis. Based on the open architecture of the SAP NetWeaver® platform, SAP for Banking helps companies expertly manage transactions and relationships across the institution to quickly identify and exploit market opportunities and easily tailor new products to the specific needs of individual customers. (Additional information at <http://www.sap.com/banking>)
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