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Specialists announce commitment to integrated services
SunGard and SAP have announced plans to unite and meet bank's need to provide good service, while meeting regulatory requirements and driving growth.
Their joint aim is to introduce service-oriented architecture so that firms can run integrated platforms, therefore lowering costs and reducing running confusion.
The deal marks a commitment from the firms to invest in a particular sector and the first product from them will be a liability management application.
In the collaboration, SAP will utilise its company process platforms with SunGard's BancWare solution for risk management.
It is hoped that by combining the two systems, banks will be able to access data more quickly and with increased reliability.
Division chief executive officer of SunGard's Financial Systems business Harold Finders said that the link-up would benefit a number of businesses.
"SunGard's BancWare solution is used by over 500 customers in more than 40 countries, including seven of the top ten global banks and six of the top ten European banks, and we look forward to expanding this footprint with SAP," he commented.
SunGard has an annual revenue of around $4 billion (£201 million) and is a specialist in providing software for financial services.
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