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Asia banks need BDA and on-demand network to boost innovation and agility, says SAP Malaysia

AvantiKumar | Aug. 22, 2014
Like other businesses, banks cannot leave innovation to chance and must use real-time analytics to become more agile, said SAP Malaysia MD Bernard Chiang.

Connecting the Money (SAP) image modified 

Image - Connecting the Money (courtesy of SAP)


 Chiang said the concept of the FSN is not just for financial institutions, but also corporates across different sector. "Imagine a business cockpit for corporates ERP systems to work with banks without going to each bank's portal to handle their payment, FX, liquidity and other value added services. So essentially, the FSN is a cash management driven initiative that is focused on a multi-bank solution for the largest corporates."

"As the war continues with corporate to bank connectivity and B2B networking, banks cannot lie complacent in their view that corporate and commercial clients will forever stick with the banks' platforms to exchange documents, data, and information," he said.

"This is the time where those who believe in innovation will take the plunge," said Chiang, adding that SAP Malaysia's CFO Executive Event - themed 'The Future of Finance" on Tuesday morning, 26 August 2014 at Grand Hyatt Hotel, Kuala Lumpur, would dive deeper into the possibilities.

 

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