SAP Fioneer announces a new vertical product strategy for banking and insurance customers

By Joy Dumasia

SAP Fioneer, a global provider of financial services software solutions and platforms, has announced the launch of a new vertical product strategy which significantly reshapes its offering to customers. Adopting a vertical approach, three platforms will provide IT solutions tailored to specific market, and customer needs enabling them to navigate an increasingly complex financial landscape. 

SAP Fioneer’s Banking, Insurance and Finance & ESG Platforms are built on SAP’s world-class technology to deliver end-to-end solutions for the financial industry that are pre-integrated, ready to run and seamlessly integrated with existing applications. Packaged solutions, known as ‘editions’, will form an integral part of the platform offering and feature flexible and scalable ‘out-of-the-box’ solutions tailor-made for specific verticals and customer needs. At the same time, customers can ‘co-innovate’ by being able to customize and design solutions in partnership with SAP Fioneer. 

The announcement was made at the SAP & SAP Fioneer Financial Services Forum in Amsterdam by SAP Fioneer CEO Dirk Kruse. The debut flagship event takes place just over ten months after the launch of SAP Fioneer, a financial services carve-out from global tech leader SAP. The conference features a host of organizations across the banking and insurance sectors, including The Bank of London, Munich Re and Standard Chartered, with experts from SAP and SAP Fioneer joined by bestselling author, start-up founder and radio host Brett King for the day’s keynote. 

Dirk Kruse, CEO at SAP Fioneer, said: “Many financial services organizations across banking and insurance are navigating significant challenges from regulatory change to rapid digitalization, and it has never been more important for them to keep pace. The launch of our platform strategy reinforces our capability to offer stability and resilience through rock-solid, world-class financial technology and, at the same time, be agile to developments with a host of scalable, configurable and open core solutions. By putting customer experience first, our vertical approach enables them to stay ahead of the curve. Our unrivalled product portfolio, coupled with SAP Fioneer’s expertise, offers customers the breadth and depth they need to achieve their ambitions.”   

Recently, IBS Intelligence reported that The Bank of London, the world’s purpose-built global clearing, agency and transaction bank, has teamed up with SAP Fioneer, a global provider of financial services software solutions and platforms, to transform and simplify global clearing and transaction banking.