SAP NEWSBYTE — SAP AG (NYSE: SAP) today announced it has been positioned by Gartner Inc. in the leaders quadrant of the 2011 “Magic Quadrant for International Retail Core Banking” report1. SAP was recognized for its “ability to execute” and its ”completeness of vision.”
“We are extremely pleased that Gartner has once again this year rated SAP as a leader in international retail core banking,” said Don Trotta, senior vice president and global head of Financial Services at SAP. “We believe it again demonstrates SAP’s strong position in the bank technology ecosystem and how SAP’s integrated approach to standardized core banking systems continues to resonate with banks. In 2012, banks will find an even stronger SAP solution portfolio offering them significant opportunities to take advantage of faster business innovation not only in core banking but also in the areas such as enterprise and customer mobility and real-time banking analytics via the SAP HANA platform.”
Core banking replacements incorporating service-oriented architecture (SOA) are on the rise. As stated in the report, “The technology evolution to SOA-compliant (meets the five principles of SOA), component-based core solutions that promise to enhance business agility is gaining momentum. As vendors acquire, build or migrate core systems to component-based, SOA-compliant solutions, this repository approach will drive increased interest in standardization. This is consistent with overall industry trends to SOA adoption within financial services, predominantly SOA and SOA combined with event-driven architecture (EDA).”
The SAP® for Banking solution portfolio combines core banking functionality with a standardized, integrated framework based on the principals of SOA. It offers an array of solutions uniquely tailored to every facet of a modern-day banking institution, including loans, deposits, compliance, payments and customer loyalty. Powered by the SAP NetWeaver® technology platform, the solutions enable a new banking model that is more open, innovative and profitable.
Gartner defines leaders as “vendors that demonstrate strong development methodologies, and all of these vendors have a measurable strategy for disaggregating core banking software functionality into component-based constructs. Many vendors possess methodologies for quality assurance or are executing on a strategic road map to attain certification. Most vendors maintain a strong banking market understanding through methodical processes and have extensive marketing delivery and sales channels. Although there are many well-balanced vendors/products in this quadrant, some are in transition and possess evolving products, process maturity or both.”
About the Magic Quadrant
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