Source: ABN Amro
ABN Amro has extended its relationship with SAP to include banking industry-specific software for the management of client account information across its global cash management operations.
Deposit management, financial customer information management and reporting functionality from SAP for Banking will enable ABN Amro to centralise the management of account portfolios for its multinational clients. This will provide a single view of global account structures and enable, for example, global management of credit limits.
The single platform will also strengthen ABN Amro’s existing outsourcing offer to other financial institutions, which includes white-labelled front-end services and other partnership opportunities, by simplifying and standardising the interfaces necessary to support this business.
"SAP’s technology will give us the flexibility we need to manage future change," said Edward Glassman, Managing Director, Global Transaction Delivery, Transaction Banking, ABN Amro. "Adaptability will be a key requirement for transaction banking in the future as banks position for changes to market infrastructure, such as the Single Euro Payments Area (Sepa) in Europe.
"ABN Amro is further standardising its cash management operations with SAP and is leading the industry in moving to a single account management platform," said Thomas Balgheim, senior vice president, Financial Services, SAP.