SAP has been named a leading vendor by two analyst firms serving the financial services sector, Ovum and Forrester Research. The nods are for the SAP Transactional Banking package and the company’s CRM offering.
A recently published report by Ovum, Solution Guide to International Retail Banking Core Systems, Selecting the Next-Generation Platform, offers an evaluation of the leading vendors providing core systems for the international retail banking market. The SAP Transactional Banking package received the top ranking of “shortlist” and is the highest ranked vendor for functionality. According to the report, “SAP is another relatively recent entrant to the core systems market, but with a leading architecture design, high scalability and business process strength, SAP has managed to leverage its overall strength in enterprise applications to become a significant provider in the core systems market with its Transaction Banking offering, particularly in the tier-1 and tier-2 banking segments.”
Forrester Research’s February 2011 report, CRM Solutions For The Finance And Insurance Industries, examines CRM offerings from 24 vendors with respect to their ability to meet the specific requirements for financial services firms. Across all categories of business processes specific to financial services that Forrester used in its analysis, SAP software received a “strong” rating. According to the report, “SAP CRM provides strong native support for the unique business processes of the finance and insurance industries”
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