Companies Leverage Enterprise SOA to Help Banks Reduce IT Complexity
Vienna — SAP AG (NYSE: SAP) and SunGard (www.sungard.com) today announced plans to collaborate to address the needs banks have to comply with increasing regulatory requirements and to control costs while simultaneously driving revenue growth. The goal is for SAP and SunGard to help customers tap the business value of enterprise service-oriented architecture (SOA) to reduce complexity, lower costs and benefit from leading compliance functionality on an integrated platform. The announcement was made at SAPPHIRE ’07, SAP’s international customer conference, being held in Vienna, Austria, May 14 – 16.
The first offering will be a joint asset liability management solution. “This is the first step in what we hope will become a fruitful partnership between SAP and SunGard. It’s a win for customers, a win for SAP and a win for SunGard. The availability of the offering will begin in Europe,” said Harold Finders, division chief executive officer of SunGard’s Financial Systems business. “At SunGard we expect the number of enterprise infrastructure providers to get smaller in the coming years, so we are pleased to collaborate with a world leader to offer banks our best-of-breed BancWare ALM solution on SAP. SunGard’s BancWare solution is used by over 500 customers in more than 40 countries, including seven of the top ten global banks and six of the top ten European banks, and we look forward to expanding this footprint with SAP.”
“We’re very pleased that SunGard, a longstanding industry leader known for technical excellence and banking industry expertise will be deploying its application on a business process platform enabled by SAP,” said Léo Apotheker, deputy CEO, member of the executive board and president, Global Customer Solutions and Operations, SAP AG. “The decision to execute this strategy in the banking space was easy. Banking is a strategic industry for SAP and, through the work with our partners and banks, SAP is demonstrating a high level of commitment to co-innovate with industry leaders to deliver banking solutions that help banks be the next-generation performers.”
The collaboration joins the strength of SAP applications and business process platforms for banking and SunGard’s BancWare (ALM), a leading solution for balance sheet risk management. Precise measurement and management of balance sheet risks depends on fast access to accurate data. Delivering SunGard’s BancWare solution on a business process platform enables banks to gain a leading-edge analytical banking data management and integration platform for providing ready access to reliable data. The integrated offering enables financial institutions to measure and manage interest and foreign exchange rate risks accurately, consistently and comprehensively. Banks deploying this integrated banking management solution for asset and liability management are empowered to reduce their integration and administration effort and benefit from cost savings through lower total cost of ownership. Availability of the offering will begin in Europe.
SunGard’s BancWare Solution
A solution suite for integrated risk and performance management, SunGard’s BancWare (http://www.sungard.com/bancware) is used by banks, mortgage and credit lenders, and other financial services institutions. Designed for finance professionals, the solution’s modular software and consulting solutions for asset/liability management, budgeting and planning, profitability, economic capital, operational risk and Basel II compliance provide a unified view of risk to help improve capital management and better business decision making at all levels of the organization.
SAP – Powering the Next Generation Performers in Banking
Leveraging SAP technology and enterprise SOA, SAP is enabling a business process platform for the banking industry that leverages the SAP NetWeaver platform to orchestrate industry-specific, reusable enterprise services and business process elements. The platform is designed to help banks capture business opportunities faster, efficiently and profitably. SAP’s partners enrich the platform by adding services that contribute to the banks’ business – but not to IT complexity. Also announced at SAPPHIRE ’07 Vienna is the broad adoption of a business process platform for banking that is fueled by the co-innovation with leading banks including ABN AMRO and Standard Bank, and leading software solution providers, including SunGard, amongst others contributing to the vision of how adaptable IT enables business growth. (See May 14, 2007 announcement, titled “Banks and Insurers Capitalize on New Business Opportunities Through Co-Innovation with SAP and Partners.”)
With annual revenue exceeding $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 50 largest financial services companies. Visit SunGard at www.sungard.com.
Trademark Information: SunGard, the SunGard logo and BancWare are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
About SAP for Banking
SAP for Banking provides banking specific (transactional banking, CRM, risk management) and banking relevant (financial accounting, human resources management, procurement) services and solutions created on a single enterprise SOA enabled business process platform (BPP). 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 www.sap.com/banking)