Commerzbank Shifts 70 Percent Of Balance Sheet Runs to SAP HANA

Commerzbank has gone live with an integrated set of finance and risk solutions powered by the SAP HANA platform.

With the SAP Bank Analyzer set of applications, including the SAP Accounting for Financial Instruments application, Commerzbank is now able to close its monthly books significantly faster.  As one of the largest banks in Germany, with €533 billion in assets and 51,300 employees worldwide, Commerzbank is working with SAP to digitally transform its operations for connected line-of-business transactions, simplified closing processes and regulatory compliance.

The bank said SAP HANA is part of its program to go digital; it has now digitized production for all lines of business, including retail, commercial and investment banking.

With the SAP Bank Analyzer set of applications, including the SAP Accounting for Financial Instruments application, Commerzbank is now able to close its monthly books significantly faster, and the bank has digitized production for all lines of business, including retail, commercial and investment banking.

SAP solutions, based on the in-memory computing technology of the SAP HANA platform, process massive quantities of data quickly to deliver precise reports in real time that help the bank satisfy its regulators in addition to its customers.

“The scalability and processing power of SAP HANA are huge for multinational corporations like Commerzbank, which have to cater to many different audiences at the same time,” said Luka Mucic, Member of the Executive Board of SAP SE, chief financial officer and chief operating officer, SAP SE. “The digital transformation goals of large banks demand comprehensive solutions that address a multitude of requirements across the entire organization. We are delighted to support Commerzbank in its digital enterprise journey, and we look forward to our ongoing collaboration.”

About Tom Groenfeldt

I write - mostly about finance and technology, sometimes about art, occasionally about politics and the intersection of politics and economics. My work appears on Forbes.com and International Finance Magazine. The Financial Brand ranked me 20 on a list of the top 25 global influencers in financial services and Jay Palter included me in his list of 250 fintech influencers to follow in 2016 http://bit.ly/1SSRXC6
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