SAP to work with Citi and RBS
SAP has announced that it will work closely with Citi and The Royal Bank of Scotland (RBS) to co-innovate a cloud-based services platform. The highly interoperable, multi-bank platform aims to seamlessly integrate banks with their corporate customers. A combination of SAP’s deep expertise in enterprise resource planning (ERP), treasury management software and new cloud services technologies is driving the solution development.
Sanjay Poonen, President, Global Solutions, SAP, said, “SAP has prided itself in customer-centric innovation, in this case creative innovations in banking that can increase the velocity of information flow between banks and their corporate customers.” “Integrating banks with corporate ERP and treasury systems has always been an expensive proposition for banks and corporations alike. Furthering SAP’s commitment to the cloud, the banking industry and our many thousands of corporate customers, this solution will dramatically ease corporate banking. This will allow corporate customers to seamlessly extend their ERP and treasury systems and interface with multiple banks.”
“We are working toward a solution with SAP to remove integration barriers and facilitate greater connectivity to Citi’s global network of more than 90 countries and over 100 currencies. As a leading international bank, it is always Citi’s desire to bring new innovations to the forefront of the industry. Leveraging the cloud is one effort in Citi’s goal to be the world’s ‘Digital Bank’. Through our pioneering work here, we hope to bring banks and businesses closer together and create a springboard to new innovations and value creation in the future,” said Naveed Sultan, Global Head, Treasury and Trade Solutions, Citi.
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