Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

SAP: We will become largest supplier to banks by 2015

Leo King, Computerworld UK | March 31, 2011
SAP has vowed to triple its financial services business, and become the largest IT supplier to banks within three years.

Large banking clients to centre their technology on SAP include HSBC, Barclays, Nationwide, UBS, Citigroup, Societe Generale and Deutsche Bank. Insurers include Allianz, Lloyds TSB and ING.

"We bring a deep understanding of banks' business and can help them operate, collaborate, make decisions and adapt better," Trotta said.

Banks as a whole had left technology updates around core processing "for as long as possible", Trotta said, "and it's got the point where many find their IT is detrimental". As the economy begins to recover, this was prompting investment, he said.

"Additionally, banks are looking for more transparency and better risk analysis, meaning they need to improve the technology to help that," he said.

Banks, many of which had traditionally developed key IT systems in-house, were looking to more off-the-shelf software, in order to operate in tougher financial constraints, with scarcer resources, and to gain "more consistent outcomes from the systems across the business".

"The industry is catching up with other sectors, like oil and gas, electronics and car manufacturing," he said. "The world has changed."

Many banks were overhauling IT, taking a "step-wise" approach, Trotta said. "It depends on the bank, but often they start with getting all their customer information on one system, no matter whether it's loans, credit cards or savings. Then they might tackle improvements in specific areas and assess their reporting capabilities."

SAP approaches most of the banks through system integrators, many of which "have been in any particular institution for years".

 

Previous Page  1  2 

Sign up for CIO Asia eNewsletters.