Banks and Insurers Capitalize on New Business Opportunities Through Co-Innovation with SAP and Partners

Banks and Insurers Capitalize on New Business Opportunities Through Co-Innovation with SAP and Partners

In a continuing demonstration of the maturity of its strategy and road map to deliver solutions based on enterprise service-oriented architecture (enterprise SOA), SAP AG (NYSE: SAP) today announced details on how it is enabling business process platforms for banks and insurers to quickly identify and capture new business opportunities while creating cost efficiencies and additional sources of revenue.

Through co-innovation with SAP and its partners, banks and insurance companies can have one integrated technology platform at the center of innovation and improved business processes. This helps in differentiating their value proposition, bringing new products to market faster and competing more effectively, while gaining market share, increasing profitability and transforming their business networks. The announcement was made at SAPPHIRE® ’07, SAP’s international customer conference, being held in Vienna, Austria, May 14 – 16.

Leveraging SAP technology and enterprise SOA, business process platforms for the banking and insurance industries bring together the SAP NetWeaver® platform combined with industry-specific, reusable enterprise services and business process elements to help banks and insurers capture opportunities faster, efficiently and profitably. Through a business process platform, business processes are repeatable and software-enabled, so a bank and insurance company can easily manage and update such processes—and do so at a lower cost.

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