SAP expands its SAP Financial Services Network team

Expanding its team

SAP has expanded its team for its SAP Financial Services Network (view press release). Bank of America Merrill Lynch, the Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank, Nordea and Standard Chartered join Citi and RBS as co-innovators for a cloud-based services platform that aims to simplify transactions between corporations and their financial institutions.

SAP Financial Services Network is hosted by SAP as an on-demand offering, and aims to facilitate multi-bank routing, multi-format payments, on-boarding and corporate services application development and deployment. In addition, the network is also intended to facilitate core transaction management among banks, corporations and treasury service providers. Banks and corporations are contributing resources in order to create a real-world road map to deliver financial integration and connectivity.

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