SAP Recognized for Leadership in Global Retail Core Banking

SAP has been positioned by Gartner as a Leader in the June 2018 Magic Quadrant for Global Retail Core Banking report for the 11th consecutive time. The company was recognised for its ability to execute and its completeness of vision.

“Digital banking initiatives are more prevalent than ever before, forcing the retail core banking market to implement these strategies into their daily operations,” said Falk Rieker, global head of Banking at SAP.

“This is why we’re committed to continuously innovating products like SAP HANA and SAP Leonardo to leverage analytics and artificial intelligence to simplify and optimize banking processes. We believe our dedicated approach to helping banks become truly intelligent enterprises is why we continue to be a Magic Quadrant leader in this space.”

According to the Gartner report, “Leaders in the global retail core banking market tend to possess a high-order market understanding. They make it their business to monitor market trends and funnel progressive innovation into their product roadmaps.

Most of them possess software development quality certifications (such as Capability Maturity Model Integration [CMMI]) or are pursuing them. The Leaders are also, without exception, “thinking small” or targeting component-based architecture as a gateway to providing increased accessibility to the granular functionality that banks need to drive the basis for differentiation. Leaders have high viability and great customer feedback.

They also focus on innovation — and the innovation trends that affect this particular market. They especially focus on trends with visionary capability in managing the ecosystem for open banking platforms by fostering open banking with their products and services in a collaborative environment with partners.”

The SAP for Banking solution portfolio streamlines digital banking operations with an integrated finance, risk and compliance system to reduce cost and complexity. Core banking software from SAP allows banks to deliver customer-centric products and services using a 360-degree customer view.

Delivering a quality customer and employee digital experience is the result of the company’s more than 40 years of industry knowledge and spirit of co-creation with banks in pushing cutting-edge technologies to the forefront of financial services. More than 14,100 banks in 150 countries rely on SAP for Banking solutions to help them become more customer-centric, reduce complexity and manage regulatory and risk compliance more easily.