SAP for Banking Reviews & Insights

Score8.3 out of 10

11 Reviews and Ratings

Community insights

TrustRadius Insights for SAP for Banking are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Pros

Financial Data Availability: Users have appreciated the system's provision of extensive financial data, aiding in better data management and presentation by the bank. The availability of such detailed financial information has significantly contributed to more informed decision-making processes within the organization.

Information Retrieval and Update Assistance: Some reviewers found the system helpful for retrieving and updating server information efficiently. They specifically mentioned how this feature streamlined their workflow, especially when dealing with time-sensitive credit information for customers.

Comprehensive Features Offered: Customers value the diverse range of features provided by the system, including robust capabilities for credit management, current accounts handling, customer details organization, efficient deposits management, and simplified consumer mortgage processing. These comprehensive offerings have enhanced operational efficiency and customer service levels for many users.

Reviews

5 Reviews

Is SAP right for your Company? Yes but keep reading

Rating: 6 out of 10

Incentivized

January 14, 2022

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

Likelihood to Recommend

if your company is currently using SAP for banking i ´ll recommend to move forward and go for it, i do not recommend for early implementation or in case that you are on a fast pace project phase

Verified User

Consultant in Research & Development (201-500 employees)

Vetted Review

2 years of experience

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

Rating: 8 out of 10

Incentivized

January 14, 2022

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.

Likelihood to Recommend

I think when we have a big company [than] managing the finance is not possible by manual or old data entry. Hence these are the solutions that make the task easier. Small scale requirements can be managed by other means as banks might be charging the Premium from companies which may be costly for smaller companies.

Verified User

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

Vetted Review

1 year of experience

SAP for Banking - Review

Rating: 6 out of 10

Incentivized

January 13, 2022

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.

Likelihood to Recommend

SAP [needs] a UI upgrade soon - it is getting difficult to operate, especially when huge transactions are involved. SAP's mobile application however gives easy access to data and we can address and search it when needed. This also helps to provide appropriate information to customers and I can update the transaction details on the go.

Ayush Seth

Deputy Manager in Sales at ICICI Bank (10,001+ employees)

Vetted Review

1 year of experience

View profile

SAP Banking at glance at high level overview

Rating: 7 out of 10

Incentivized

December 23, 2021

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.

Likelihood to Recommend

Well suited for large-size [banks] with more than 1000 branches with multiple regions and not suitable for small banks in terms of economy of scale. [Similarly] this is not a robust solution for small-scale NBFC's and with only a few business processes. Credit card management is also not as expected and still needs lots of improvements in [the] data analytics part.

Verified User

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

Vetted Review

7 years of experience

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

Rating: 8 out of 10

Incentivized

December 14, 2021

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

Likelihood to Recommend

For the reconciliation needs, SAP for banking is well integrated for core financial reconciliations part, whereas for other compliances like regulatory framework, etc. it might need to depend on the third-party solutions like blackline, banks, etc. Many organizations also develop in-house products to meet the reconciliation needs of the organization.

Verified User

Consultant in Information Technology (10,001+ employees)

Vetted Review

1 year of experience

Loading Reviews List....