SAP NEWSBYTE — SAP AG (NYSE: SAP) today announced that it has been named a leading vendor by two independent analyst firms serving the financial services sector.
A recently published report by analyst firm Ovum, “Solution Guide to International Retail Banking Core Systems, Selecting the Next-Generation Platform,” offers an evaluation of the leading vendors providing core systems for the international retail banking market. The evaluation is based on an analysis of a software vendor’s market impact on the global core systems marketplace, the strength of its top products’ business functionality and the strength of its technology capability. The SAP® Transactional Banking package received the top ranking of “shortlist” and is the highest ranked vendor for functionality.
According to the report, “SAP is another relatively recent entrant to the core systems market, but with a leading architecture design, high scalability and business process strength, SAP has managed to leverage its overall strength in enterprise applications to become a significant provider in the core systems market with its SAP Transaction Banking offering, particularly in the tier-1 and tier-2 banking segments.”
Daniel Mayo of Ovum and author of the report says, “The implications of replacing a bank’s core system reach far beyond the technology itself. Hence, banks will benefit from choosing a vendor who has experience with major transformation projects.”
Forrester Research, Inc. also has analyzed vendors in the financial services sector, focusing on customer relationship management (CRM) software. Its February 2011 report, “CRM Solutions For The Finance And Insurance Industries,” examines CRM offerings from 24 vendors with respect to their ability to meet the specific requirements for financial services firms. Across all categories of business processes specific to financial services that Forrester used in its analysis, SAP software received a “strong” rating. According to the report, “SAP CRM provides strong native support for the unique business processes of the finance and insurance industries.”
To access both reports, visit the SAP for Banking page on sap.com. For more information, please visit the Industries & Solutions Newsroom or view any of the SAP for customer references. Follow SAP on Twitter at @sapnews.
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