Largest Bank in Belarus Selects SAP for Banking to Help Realize Growth Objectives
MINSK, Republic of Belarus, Sept. 19 /PRNewswire-FirstCall/ -- SAP AG (NYSE: SAP - News) today announced that Belarusbank, one of the top fifty financial institutions in Central and Eastern Europe, has selected the SAP for Banking solution portfolio to centralize and optimize its business processes. The integrated SAP solution set is slated to replace the bank's decentralized, automated banking system of multiple IT applications, underlining an increasing shift in the global financial services sector toward industry- specific, standard software.
According to a July 2006 Gartner report titled Banks and Core Banking Vendors Tap SOA for Business Growth and Efficiency, "More large banks are abandoning the 'build-it-yourself' approach for back-office production systems and, instead, are purchasing component-based software systems. This growing trend of core banking renewal is driven by the reduction of the high costs of customized application maintenance and the commoditized functionality of banking back-office operations during the past five to seven years."
Belarusbank's existing systems were hampering its ability to achieve the strategic objective of strengthening its international and local presence. Belarusbank's management decided that this objective would be achievable only with a banking system that could effectively transition their decentralized systems into a single integrated platform.
"IT solutions in the banking industry today are the essential part of a bank's strategy," said Mr. Vladimir Novik, deputy to the chairman of the board, JSSB Belarusbank. "Belarusbank is the leader of the Belarus banking market and should become the example for other Belarus-based banks in every respect, including the modern banking business processes and solutions."
Belarusbank's decision to select SAP for Banking was based on the software's capabilities to help the bank control its customer database, integrate its large branch network and manage its more than 100 banking services and products. Using the flexibility of the SAP NetWeaverR platform and leveraging the banking industry-specific functionality of SAP for Banking, the Belarusbank expects to achieve:
* Improved efficiency of all the bank's business processes
* Quicker time-to-market of products and product enhancements
* Increased customer satisfaction through improved customer responsiveness
* Optimized customer database management and processing
* Overall consistency through the standardization of business processes
* Sophisticated reporting capabilities that are in accordance with management and regulatory requirements
"Leading banks such as Belarusbank are seeing the value of an integrated platform approach to truly streamline their banking processes while improving their presence in the marketplace," said Thomas Balgheim, senior vice president, Financial Services, SAP AG. "Faced with a challenging and ever- changing environment, Belarusbank and an increasing number of its peers are tapping the benefits of deep industry expertise and cutting-edge technology from SAP."