Commerzbank rolls out SAP for Banking

Commerzbank rolls out SAP for Banking

Germany's Commerzbank has migrated its loans processing operations to the SAP for Banking platform.

SAP says its technology - implemented over nine months  - has "centralised and optimised" Commerzbank's business processes.

Commerzbank, which is the second largest bank in Germany, opted to deploy SAP for Banking for loans processing after a successful implementation at its mortgage subsidiary, Eurohypo.

Since then Commerzbank has used the technology to overhaul its loans transaction business unit by setting up a "loans factory" which processes 1.2 million loans annually.

The "loans factory" technology platform went live last September and now manages Commerzbank's private mortgage loans business, which currently has 600,000 contracts. The next stage of the roll out will see consumer loans integrated.

The vendor says its platform increases workflow automation and shortens processing times to improve efficiency. By integrating the technology with balance-sheet and risk systems, Commerzbank has increased data quality, improved risk selection and provided more transparency across all borrower units.

"By implementing SAP software, we were able to remove the burdens brought on by our former loans platform and create a durable, efficient core banking solution," says Christian Weber, head of retail credit, Commerzbank.

Commonwealth Bank of Australia and  the UK's Nationwide Building Society have both signed for SAP for Banking this year as part of major, multi-million pound overhauls of their legacy systems.

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