WALLDORF, Germany, Nov. 18, 2014 /PRNewswire/ -- SAP SE ( NYSE: SAP) today announced that it has been positioned by Gartner, Inc. as a leader in its Magic Quadrant for International Retail Core Banking* report for the eighth year in a row. Twenty global vendors were evaluated on two key parameters: ability to execute and completeness of vision. SAP is recognized as a market leader for both parameters within the Leaders Quadrant.
"In today's competitive environment, retail banks are increasingly looking for ways to be more efficient and make it easier for customers to use their services through online and mobile channels," said Falk Rieker, global head of Banking Business Unit, SAP. "SAP is proud to help financial institutions reach profitability and customer relations goals by providing core banking applications that support customer centricity, real-time processing and standardization while enabling faster product innovation. The core banking platform from SAP is based on a service-oriented architecture (SoA), and provides an industry-leading reference architecture. We believe our position in the Leaders Quadrant is evidence of our firm commitment to providing innovative technology solutions that support meaningful results for financial organizations and banks."
The report "uncovers the leading strategies of these vendors and products, reveals their underlying product/service capabilities and affirms their relevance to changing conditions in the banking industry." It "can assist CIOs by enabling them to focus on what matters most: the relevance of vendor and product attributes and their alignment with critical business strategies and technology trends."
According to the Gartner report, "Leaders in the IRCB market tend to possess high-order market understanding — they make it their business to monitor market trends, funneling progressive innovation into their product road maps. About half of this group either possess software development quality certifications (such as CMMI) or are pursuing them. Without exception, the Leaders are progressively '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."
More than 12,200 banks in 142 countries rely on solutions from the SAP® for Banking portfolio to become more customer-centric across all channels, reduce cost and complexity and more easily manage regulatory and risk compliance. SAP for Banking is a comprehensive offering for streamlining core processes and producing new innovations in transactional banking, payments, personalized offers, risk analysis and more. The solutions are the direct result of the company's more than 40 years of accumulated industry knowledge and a spirit of co-innovation where banks play a role shaping solutions to fit the realities of the modern-day banking institution.
*Gartner "Magic Quadrant for International Retail Core Banking" by Don Free and Ethan Wang, November 13, 2014
About the Magic Quadrant
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SOURCE SAP SE