SAP says 8.0 release of banking services ensure processing of deposits and loans for retail and commercial banking

Infotech Lead India: SAP said the 8.0 release of banking services have capabilities for flexible and extensive processing of deposits and loans products for retail and commercial banking.

The services will be available in 2013.

Offering capabilities for advanced cash management, product bundling and relationship pricing, the latest edition of its banking platform helps banks face the new realities of compliance, mergers and acquisitions (M&A), real-time transactional banking and advanced risk analysis.

Over 100 banks worldwide run or are in the process of implementing the platform.

“The future of transactional banking is service-oriented architecture-based systems,” said Suprakash Chaudhuri, acting managing director, SAP India. “The 8.0 release represents the type of forward-looking platform that today’s banks need to better engage with their customers and drive innovation while reducing costs.”

The latest release of banking services contains financial tools that apply integration and analytics on top of risk and compliance and core banking, supported by over 1,000 trained consultants and experts.

SAP said Banking Services from SAP 8.0 is general available for usage worldwide.

The company will be conducting a feasibility study on the features for customers locally prior to implementation of the solution.

Due to customer demand and the growth capabilities built into the latest release of banking services, new features within the platform are planned to be released throughout 2013.

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