SAP Fioneer’s pre-configured and cloud banking solutions

Getting banking products to market fast – at lower cost

In the old days, any banking technology implementation (not just core banking replacements) typically took a very long time, cost a lot, and was fraught with the risk of budget blow out and – worse still – operational interruption. However, the cost and time required for banking technology implementations has fallen dramatically in the last 20 years. Part of this is explained by technological advances but also architectural approaches. The graph below is taken from SAP and SAP Fioneer data and illustrates this very well.

Average time and cost taken for banking technology implementations from 2000 to 2022

Source: SAP and SAP Fioneer data

Drivers and benefits of acceleration

Plug & Play: Pre-configured banking components

Large tranches of banking have evolved to a point where they have become commoditised and standardised; such as onboarding, know your customer (KYC), account opening including loan applications, fraud management etc. There is no need to reinvent the wheel but instead SAP Fioneer has a large portfolio of pre-configured components and also end-to-end offerings, such as SME banking. These get banks up and running with new or improved offerings very quickly, at lower risk.

Sidecar SaaS: Cloud enablement

As in all things, the arrival of cloud is a massive accelerant. However, it’s not just that the creation, maintenance and optimisation of platforms and servers are taken care of (significantly reducing operational resource requirements and opening up ‘pay for what you use’ business models) but it also creates access to the ‘plug and play’ services described above – so banks can select from the options available and get them turned on very quickly. SAP Fioneer’s Cloud for Banking (C4B) solution delivers all these benefits, including connectivity, to existing components abut also third parties.

Future-fit: Opening up the possibilities of ecosystem banking

Separating banking into components with connectivity to the core and other parts of the system by its nature opens the possibility for combining components together, like pieces of lego, for rapid expansion of capability OR integration with third party services. This allows a bank to rapidly extend its offering whilst providing an improved, fluid customer experience. Swift integration with third party services opens up new business models altogether. C4B (SAP Fioneer’s Cloud for Banking) provides just this opportunity.

Webinar: The Avenue story – learnings from launching a bank in 2022

Date: Thursday 8 June 2023

Time: 12.30pm Singapore, 2.30pm Sydney 

Don’t miss the COO of Avenue Bank, Aymeric Cabuil, in conversation with SAP Fioneer about the experience of building and launching an Australian neobank using today’s technology, at speed, and the unique products Avenue are bringing to market.

Register now

Find out more

If you’d like to talk to us about our pre-configured banking components or our Cloud for Banking (C4B) solution, or to see a demo, please leave your details in this form and we’ll get back to you as soon as possible.