As Banking Transforms, Banks Must Innovate

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Just think – years ago, banking services required in-branch visits, paper checks, and a somewhat old-fashioned approach to managing finances. Today, banks are different. Banks are innovating to meet more demanding customer needs and implementing must-need services such as full-service mobile banking. Some banks are even creating virtual branches that rely on technology to operate and can reach a larger audience (a focus on banking the unbanked).

This evolution in banking is a clear sign of the times and a way to speed the process of money exchange – something most people (and companies) want as the speed of our lives accelerates.

As banks embrace the cultural mind shift and change to provide faster, more accessible and accurate services, their infrastructures must keep pace with their innovations and continue to evolve and support the needs of their customers…and it must be done quickly.

With SAP banking clients supporting over 101 million active bank accounts, it’s clear that SAP Services has the expertise in effectively working with banking institutions. SAP Services can help banking enterprises align IT with business and transform banking operations to attain new opportunities, make more informed financial decisions, and create new products and services.

Through collaboration with SAP Services, a customized solution can be identified and created to specifically target the needs of the banking enterprise. The solutions can help with managing risk and ensuring regulation, reducing the cost and complexity of core banking processes, lowing IT costs, and finding, attracting, and retaining profitable customers.

More importantly, these solutions can happen at a rapid pace through rapid-deployment solutions, which are packaged offerings including state-of-the-art software, rich content, and rapid-enablement services.

UkrSibbank BNP Paribas Group, one of Europe’s largest banks, is using SAP solutions and addressing some key issues. The below infographic shows the impact SAP solutions and services has made on the organization by reducing costs, improving efficiency, and growing the customer base.

See this infographic and more on SAP Services Slideshare account.