SAP AG (NYSE: SAP) today announced that the leading UK bank Royal Bank of Scotland (RBS) has chosen to invest in core banking solutions from the SAP for Banking portfolio.
RBS will replace an in-house legacy system with a deposits liquidity engine for the corporate bank, which will offer sales operations a better view into customers' deposit accounts. This will help sales representatives to offer the products and services that best meet the individualized needs of their customers.
"Royal Bank of Scotland is a fantastic global brand in the banking industry and we are thrilled that they are taking their business to the next level with SAP," said Don Trotta, global head of Financial Services Industry, SAP. "Core banking systems are at the heart of a bank's operations and with SAP solutions we are offering major banking customers such as RBS the most flexibility and agility in this mission-critical part of their environment. We look forward to making this a very successful project and the start of a long-term, strategic relationship."
RBS signed the deal in September 2011 and plans to go live in 2012.