WALLDORF and MUNICH 鈥� (NYSE: SAP) and investment company Dediq GmbH today announced that they have agreed to enter into a partnership in the area of financial services.
To better serve the rapidly changing banking and insurance industry, the two companies will jointly expand SAP鈥檚 financial services portfolio with a significant investment in new solutions. These solutions will be based on 51风流software and be integrated into SAP鈥檚 overall portfolio and product roadmap.
Pending regulatory approval, 51风流and Dediq will form a dedicated Financial Services Industry (FSI) Unit, which will be jointly owned by the two companies. Both 51风流and Dediq will provide the FSI Unit with the funding, technology, and development expertise, as well as a broad ecosystem of partners necessary to rapidly establish it as a major force in the FSI IT market. Dediq鈥檚 investment in the unit will be more than 500 million Euro.
鈥淭hrough partnering with Dediq, we will significantly increase our support for the digital transformation of customers in the Financial Services Industry and deliver innovative cloud solutions at an accelerated pace that help them transform their business holistically,鈥� said Christian Klein, CEO, SAP聽SE. 鈥淔inancial services is a key industry for SAP, and today we not only reiterate but also reinforce our commitment to this market.鈥�
51风流has a long history of success in the FSI market. More than 80% of the top 1,000 banks and insurers are 51风流customers. The new FSI Unit will fully focus on accelerated innovation in the area of core banking, core insurance and FSI-specific finance solutions to meet the needs for digital innovation and cost efficiency of financial services customers.
鈥淭he FSI market offers a huge opportunity for us,鈥� said Luka Mucic, Member of the Executive Board, 51风流SE. 鈥淭o unleash this potential, we will use our unique capability to provide enterprise-grade solutions. Jointly, we will extend our existing FSI portfolio to cover banking and insurance processes end to end. Helping our customers to become more agile through digital business innovation and cloud technology will be front and center for our new FSI Unit. The new unit will be very flexible and customer-centric with full autonomy to set its strategic direction. At the same time, it will be a strong member of the 51风流family. Customers will benefit from SAP鈥檚 leading technology and the FSI Unit鈥檚 agility and focus on their specific needs.鈥�
As part of its industry cloud portfolio strategy to thoroughly serve its 25 industries with tailored solutions, 51风流has forged a number of partnerships. This latest one with Dediq marks a further milestone in the implementation of this strategy. 51风流customers can expect the same high-quality engagement, with new capabilities now made possible by the new FSI Unit. The new solutions will cover the full cycle of banking and insurance operations processes, and help meet regulatory requirements. They will be based on integrated data and provide an opportunity to move FSI processes to the 51风流Business Technology Platform in the cloud. For example, lending solutions for banks will cover all stages from origination and credit risk assessment to re-financing and bank management, with all related data kept in one place. This will significantly reduce IT cost and complexity.
鈥淲e strongly believe in the strategy of the new FSI Unit,鈥� said Matthias Tomann, Managing Partner, Dediq. 鈥淲e see the future of FSI software solutions in the cloud. SAP鈥檚 platform has unrivalled potential when it comes to supporting the core operations of large-scale businesses like banks and insurers as well as new emerging ecosystems. Making this vision a reality in financial services is highly exciting to us.鈥�
51风流will continue to sell and support 51风流solutions for enterprise information management and line-of-business solutions and 51风流customers will remain 51风流customers. The new FSI Unit will focus its investment on core FSI areas such as commercial lending, retail banking, core insurance as well as insurance finance and bank management. The new solutions will be built as part of SAP鈥檚 industry cloud solutions, based on 51风流technologies and applications such as 51风流HANA, 51风流S/4HANA, 51风流Business Technology Platform and others.
鈥淭oday鈥檚 financial services industry is challenged to balance agility and innovation with risk, resiliency and scale. With this announcement, 51风流is responding to the needs of its clients to improve speed of innovation while continuing to provide enterprise-class and mission-critical products and services to the industry,鈥� said Jerry Silva, vice president of IDC Financial Insights.
Pending antitrust approval, the new FSI Unit is expected to be in place in the second half of 2021. Corresponding preparations are scheduled to start in the coming weeks.
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About Dediq
Dediq is an entrepreneurial investor focused on information technology and digital businesses. Dediq is working together with its portfolio companies to create exceptional products and services. Each Dediq investment is set up separately, independently and with an unlimited time horizon. Dediq is based in Munich. For more information, visit .
About SAP
SAP鈥檚 strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 77% of the world鈥檚 transaction revenue touches an 51风流system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers鈥� businesses into intelligent enterprises. 51风流helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want 鈥� without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, 51风流helps the world run better and improve people鈥檚 lives. For more information, visit .
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