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SAP for Banking

Score8.3 out of 10

11 Reviews and Ratings

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What is SAP for Banking?

SAP offers banking software, with a wide range of features for customers of retail and commercial banks, featuring mobile and online self-service support, and on the institution side revenue, performance and risk management, along with payment processing and loan management.

Categories & Use Cases

Most Frequent Users

Top 3 industries using SAP for Banking
Based on HG Insights installation data
View all Reviews
#1 most frequent

Finance and Insurance

27.6%

21 installations of 76

#2 most frequent

Professional, Scientific, and Technical Services

21.1%

16 installations of 76

#3 most frequent

Manufacturing

19.7%

15 installations of 76

Reviews

What users are saying about SAP for Banking.
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SAP for Banking - Review

Incentivized
Ayush SethView profile
Deputy Manager in Sales at ICICI Bank (10,001+ employees employees)

Use Cases and Deployment Scope

SAP has both mobile and desktop applications. It helps with credit management, tracking current accounts for customers, deposit management, and loan tracking even when we are on a customer visit. It helps me update data on the go to the server and helps me retrieve data just as easily.

Pros

  • It helps with retrieving and updating information on the server.
  • I can easily retrieve information regarding credit for a customer and process information to provide [the] best solution.
  • SAP also assists in compliance management.

Cons

  • Mobile application is difficult to use - its UI needs to be improved.
  • Unable to process huge transactions quickly.

Most Important Features

  • Loan and Fund Deposit Management
  • Customer - Current and Saving Account Management and Maintenance
  • Compliance and Regulatory Management

Return on Investment

  • SAP eases the process of retrieving and updating information on the go.
  • The purchase decision was not mine - but it is an expensive software that requires [a] lengthy implementation process and has a huge learning curve.

Other Software Used

LinkedIn Jobs, Canva, Adobe Sign

SAP for Banking even though not used directly but the Banking team provide good interface for Financial data using this which is very important for any Company

Incentivized
Verified User
General Manager in Corporate (5001-10,000 employees employees)

Use Cases and Deployment Scope

Directly it is not used by us but our bankers use that for Financial information. Financial information by the bank is well presented and the account and finances are maintained well. Financial information for all the payments are done to vendors and client [payments] received are available seamlessly either in Bank or in the [office-based] on the requirement.

Pros

  • Financial data availability.
  • Better data management.
  • Data Well presented by bank.

Cons

  • No direct access to customers.

Most Important Features

  • Financial data security (Important as this is company confidential data).
  • Financial Data Availability
  • Financial data presentation

Return on Investment

  • Bank is effective managing the financial data.

Other Software Used

Skype for Business (formerly Lync), now part of Microsoft Teams, Microsoft Teams, Cisco Webex Share, Cisco Routers, Cisco 350X Series Stackable Managed Switches, Cisco 4000 Series Integrated Services Routers (ISR 4000)

SAP Banking at glance at high level overview

Incentivized
Verified User
Program Manager in Corporate (5001-10,000 employees employees)

Use Cases and Deployment Scope

We as a consulting group, support our customers those who have already implemented SAP banking, we support the main business processes like customer management, current ac maintenance, loan process, card management, I strongly recommend this product for its internal integrated solution and also for its robust offering, all in 1 platform.

Pros

  • Credit management ( Loans)
  • Current ac
  • Customer details
  • Deposits management
  • Consumer mortgage

Cons

  • migration is very tough and not easy to use tools, more [improvement] required in data migration tools.
  • Mobile applications are not user friendly in terms if UI design.
  • House banking configurations are complex for any changes and require intense knowledge for implementation.

Most Important Features

  • Credit management
  • Deposit management
  • Customer accounts
  • Current and Savings bank account maintenance.
  • Customer tax [calculations] and local legal requirements.

Return on Investment

  • Robust solution, highly integrated, data protection, immense cyber security as positive.
  • Highly complex to implement, the need [for] high knowledgeable consultants are negative impacts.
  • Expensive for SME banks.
  • High implementation costs.

Alternatives Considered

Oracle FLEXCUBE

Other Software Used

Oracle FLEXCUBE, Finacle Payments Suite, Agora Systems

Is SAP right for your Company? Yes but keep reading

Incentivized
Verified User
Consultant in Research & Development (201-500 employees employees)

Use Cases and Deployment Scope

tend to use SAP for banking on the mobile application, its user friendly and streamline all your banking transactions you can also have access to Company Banking Information, we developed a solution along a customer who was looking for a software where he can track credit for their customers. Beware, implementing SAP on your company may take a while if you are not familiar with, but its totally worth it!

Pros

  • Multi Deposit Management
  • Credit & Loan Management
  • Access Live Data

Cons

  • Implementing its hard, i ll like to have some initial steps for this part
  • Mobile App its not as stable as i'd like
  • Data Migration will require ETL knowledge

Most Important Features

  • Data Visualization
  • All transactions on one place
  • Pending Payments and customer credit

Return on Investment

  • I cannot talk about a gross number but we setup auto reminders for our credit customers, so we have a quicker payment rate

Alternatives Considered

Oracle FLEXCUBE and INTRASOFT PROFITS

Other Software Used

SAP HANA, Jira Software, Smartsheet

SAP for Banking - an integrated industry solutions with next-gen innovations

Incentivized
Verified User
Consultant in Information Technology (10,001+ employees employees)

Use Cases and Deployment Scope

We are doing consulting for SAP for banking organizations for product selection, evaluation, and implementation with after go-live AMS. Banking has various challenges ranging from new edge channels, huge transaction volumes, level of details, regulatory compliances need, reconciliation needs, and so on, which requires specific solutions around those products for an end to end connectivity

Pros

  • Tight integration with SAP backend ERP system
  • Universal Journal
  • Compliance Management

Cons

  • The think and thin ledger handling
  • Regulatory compliance need

Most Important Features

  • Access a comprehensive sub-ledger to support accounting for financial instruments on a single contract level.
  • Manage data in centralised data warehouse for increased efficiency.
  • Stay compliant and reduce exposure to risk.

Return on Investment

  • Harmonization in the data is reducing the reconciliation efforts
  • SAP provides a better innovation visibility in the banking solutions space

Alternatives Considered

Oracle Cloud ERP

Other Software Used

SAP S/4HANA, Oracle Cloud ERP, BlackLine