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SAP Upgrades Banking Platform For FIs

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One month after its release, SAP’s Omnichannel Banking solution is already getting an upgrade.

The enterprise technology firm released the banking platform last month to help financial service providers develop banking apps on mobile, tablet and desktop channels. The solution aims to help banks develop their own banking solutions for small businesses, as well as retail and commercial banking clients, and is built to align with other solutions in the SAP Hybris portfolio, the company explained.

On Friday (Jan. 27), SAP said it has introduced its first updates to the Omnichannel Banking solution, offering self-service features, out-of-the-box applications, frameworks for features like security and alerts, a more open structure to integrate with other business services and more.

According to SAP Global Head of Banking Business Falk Rieker, the goal of the solution is to help banks introduce new services in incremental steps.

“For banks, maintaining multiple platforms requires multiple work streams, separate maintenance schedules and a slow, complex approach to updates,” the executive stated. “With SAP Omnichannel Banking and SAP Hybris solutions, we are providing a holistic offering to manage all types of digital customer engagement — mobile and online and across multiple lines of business. This is nothing short of a game-changer, one that empowers banks to differentiate from each other and allows them to provide a tailored, digital customer experience.”

SAP Omnichannel Banking enables banks to launch new, custom tools for clients and do so with more frequency, SAP explained, reducing the friction of developing and rolling out these tools.

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