SAP Launches Banking Suite

SAP (Walldorf, Germany) announced on Monday that it has launched SAP banking services 7.0, a set of enhancements to its banking-specific software solutions. The innovations aim to help banks gain greater transparency, better focus on providing value-added customer offers, meet changing regulatory compliance demands and manage growth opportunities, according to a press release.

Included in the update is new functionality for the SAP Deposit Manager application that will offer sales operations a better view into customers' deposit accounts, enabling sales representatives to offer products and services that best meets the individualized needs of their customers at the point of sale. In addition, the SAP Loan Management application has been upgraded to offer end-to-end automation of all loan-relevant processes from origination to contract. SAP's Basel II and Credit Risk Portfolio Management were also updated as part of the banking services 7.0 release.

"Working closely with our customers, we have been able to incorporate a rich new set of features and functions in the release that will greatly help them address some of the most critical demands they are facing now - greater efficiency, flexibility to change, and better insight into their business and customers. This is why we have seen such momentum in the marketplace for SAP banking solutions over the past few years," Don Trotta, senior vice president and global head of financial services industry, SAP AG, said in a press release.