SAP introduced today its new package of Rapid Deployment software for financial institutions that are designed to help banks smoothly introduce new technologies and digital processes. The software will give banks a new level of flexibility by making it easier to implement new technologies to their digital infrastructure, SAP says.
The software guides the introduction of new digital services and processes within a fixed amount of time at a fixed cost, SAP say, mitigating some of the risk and uncertainty in introducing the new systems. Banks can adopt the latest innovations and standardize processes without worrying about data migration risks or constraints of legacy systems. The average time frame for a typical deployment of a new technology using SAP's system is less than 90 days, eliminating 40 percent of the cost of the implementation on average.
"Rapid Deployment solutions represent a new pinnacle for revitalizing banking systems," Falk Reiker, global head of SAP's Banking Industry Business Unit, said in a statement. "They combine our business process knowledge with best practices we have honed in the banking industry. Customers can better navigate the transformation process and implement our solutions in a highly efficient manner."
SAP's Rapid Deployment solutions combine SAP's software with pre-configured content and predefined services tailored for financial services institutions. The solutions include a loans management program for the delivery and maintenance of different types of loans and a data migration system that enables prescribed data migration within a fixed time frame at a fixed cost. SAP also offers a deposit management solution to handle current accounts, savings and time deposits, as well as the Bank Analyzer and HANA solutions that assist with real-time reporting of accounting activities and provide a database for analyzing large amounts of data in real time.
Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio