SAP NEWSBYTE - SAP AG (NYSE: SAP) today announced that CEB TowerGroup has recognized the company as a best-in-class provider in two of four categories of its report “Core Banking Systems for the Large Bank Market.” The report focuses on integrated real-time capable core processing systems and is based on assessments of 14 core banking solutions. SAP attained best-in-class status in the operational flexibility and enterprise support categories.
“This report reinforces our commitment to develop service-oriented architecture-based solutions that enable our customers to address their changing business needs,” said Falk Rieker, global vice president and global head, industry business unit banking, SAP. “The CEB TowerGroup analyst report recognizes the proven scalability of our solution, in addition to the well-established service record. SAP Transactional Banking is designed to accommodate the operating environment for banks of all size, with the goal of reducing complexity, optimizing TCO and providing greater agility.”
CEB TowerGroup assessed 11 vendors against four attributes, including customer centricity, product management, operational flexibility and enterprise support. The firm conducted interviews and surveys with financial services executives and industry experts, which informed a proprietary five point rating system on which it scored individual products. According to the report, the SAP® Transactional Banking package was a strong performer in the assessment, receiving high marks in all four areas. The report also states that “the system itself represents a thoroughly modern approach to core banking.”
Financial services at SAP is growing rapidly, with a customer base of more than 17,000 financial customers, of which more than 12,000 banks in 142 countries are innovating with SAP solutions. SAP helps financial institutions around the world become more customer-centric, reduce cost and complexity and more easily manage regulatory and risk compliance.
CEB does not endorse any vendor, product or service depicted in our CEB TowerGroup publications and does not advise technology users to select only those vendors rated “best in class.” CEB TowerGroup research publications consist of the opinions of CEB TowerGroup’s analysts and should not be construed as statements of fact. CEB disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.