In-memory technology of SAP HANA delivers real-time view of cash positions
'API-first platform' offers unique opportunities to embrace the benefits of open banking
New features provide seamless connectivity across the core digital platform
By bringing new digitalized functionalities to its commercial portfolio, Lloyds will offer clients seamless self-service with increased performance efficiency and operational productivity. SAP technology will furnish Lloyds with a real-time banking platform to meet the complex business requirements of large commercial banks, non-bank financial institutions and corporate while also providing cost savings and enriched customer experience to clients. The announcement was made at Sibos 2017, being held October 16-19 in Toronto, Canada.
With a commitment to delivering the future of innovation in banking, Lloyds is making this investment to support its existing and prospective clients in embracing the opportunities emerging through open banking. Through its digital core, which provides advanced real-time data analytics as well as open architecture, SAP technology enables Lloyds to redefine experiences for corporate and institutional clients. Now, complex transactions can be completed faster, liquidity can be managed more efficiently and productivity can be increased through additional insight into operations.
'The need for corporate banks to provide their clients with a seamless user experience as well as a high level of self-service becomes more and more imminent,' said Rob Hetherington, global head of Financial Services Industries at SAP. 'Banks must provide not only first-class product functionality but also ease of consumption through open application programming interfaces (APIs) as well as being flexible to meet customer expectations. By supplying real-time cash management, payments and analytics capabilities coupled with an API-based architecture, SAP is committed to helping corporate banks, like Lloyds, harness innovation to deliver unparalleled experiences.'
Selecting SAP technology follows Lloyds's decision to improve its trade finance, invoice finance and client monies platforms. By expanding its comprehensive payment and channel capabilities, Lloyds not only addresses client needs for quick, secure and reliable payments but also acquires the agility needed to adapt to future changes.
From the core banking offering from SAP, Lloyds will use the SAP Deposits Management and SAP Payment Engine applications and the SAP Omnichannel Banking solution, all powered by SAP HANA. This will enable Lloyds to offer clients a wide range of digital self-service tools for cash management and payments. The in-memory technology of SAP HANA allows both corporate and institutional clients to access these features with advanced real-time analytics capabilities. Through the modular and flexible SAP platform, Lloyds expects to gain a competitive advantage with greater business agility and lower total cost of ownership.
To learn more, including additional news from Sibos 2017, visit SAP at Stand D44 and use the hashtag #sibos.
For more information, visit SAP for Banking solutions page on sap.com and the SAP News Center. Follow SAP on Twitter at @sapnews and @SAPforBanking.
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