S/4HANA finance transformation in the banking industry: Fioneer FSDM 2023 and Fioneer Finance Open Integration Framework 

Walldorf, July 12, 2023 – SAP Fioneer, a leading global provider of financial services software solutions and platforms, has announced the launch of Fioneer FSDM 2023 and Fioneer Finance Open Integration Framework (FOF). By helping finance departments manage large amounts of data across multiple sources, both FSDM 2023 and FOF are important building blocks of the transformation in the finance area on a broader scale. 

A major challenge for CFOs is keeping up with constantly changing regulatory requirements and providing timely access to complex risk exposure analytics. For many financial institutions, data for finance, risk and regulatory reporting resides in different places and often remains siloed. What CFOs require is a consolidated view on trusted and high-quality data, as their job is to turn data into actionable business insights and to stay compliant against new regulatory requirements. 

FSDM 2023, short for Financial Services Data Management, is a single source of truth data management solution for data integration, analysis and reporting based on a single consistent data model. It acts as a data and integration component, harmonizing and decoupling the world of operational banking systems and the analytical applications used by the office of the CFO, such as SAP S/4HANA for financial products subledger (FPSL) to establish proper accounting or risk management and regulatory reporting. The open data management solution based on industry standards is fully extensible by customers and partners and upgradable, with efficient operations and tools on the S/4HANA technology stack. The solution was developed jointly with Accenture TiGital which delivers IT services to 25 banks. FSDM 2023 will be a cornerstone of Accenture’s European Banking Platform. FSDM 2023 enables data management for finance, risk and regulatory reporting at a low TCO (total cost of ownership) for banks using S/4HANA Finance and other SAP Fioneer solutions together with best of breed third-party vendors for risk and regulatory reporting. 

Fioneer Finance Open Integration Framework (FOF) is an integration solution built on S/4HANA. It acts as a central data integration tool to ease the integration efforts in an integrated Finance Platform. It helps to extract, map and transform data from various sources into one consolidated data layer, such as Fioneer FSDM, and it can be used to integrate third-party solutions for risk and regulatory reporting, like Abacus360. FOF offers standard integration capabilities with business rules, data transformation and data mapping and connectivity to SAP and non-SAP APIs to help S/4HANA Finance customers create the needed data integration without having to use third-party ETL tools (extraction, transformation, load). FOF is focused on standard integration in SAP S/4HANA based IT architectures with Fioneer FSDM or other S/4 HANA components like FPSL or SAP core banking modules like Loans (CML), Collateral Management (CMS) and Current Accounts (BCA). 

Frank Hammann, MD Finance at SAP Fioneer comments: “In implementation projects we repeatedly see the integration challenge across data silos as being the biggest challenge with the highest risks and subsequently also costs. Often, there is no consistent data model and standard integration from S/4HANA applications to third-party solutions which means that a lot of individual interfaces need to be implemented – resulting in high costs for reconciliation across disparate interfaces and missing unified data lineage transparency. Based on FSDM 2023 and FOF, SAP Fioneer will deliver a state-of-the-art data management solution with standard integration to/from SAP Fioneer solutions and third-party solutions for finance, risk and regulatory reporting.”   

While Fioneer FSDM 2023 is a single-point-of-truth (SPOT) for the data management, Fioneer FOF is the single-point-of-integration between SAP and non-SAP applications.  

Fioneer FSDM 2023 and Fioneer FOF can each be deployed on premise, in the private cloud and as a managed end-to-end cloud service on SAP BTP. 

– Ends –


About SAP Fioneer (www.sapfioneer.com)

SAP Fioneer was launched in 2021 as a joint venture between global technology leader SAP and entrepreneurial investor Dediq to become the world’s leading provider of financial services software solutions and platforms.  With a broad ecosystem of partners, over 800 financial services customers and more than 1,000 employees, SAP Fioneer is a global business present in 17 countries across Europe, North and Latin America, Middle East and Asia-Pacific.

By combining the speed and agility of a start-up with the proven capabilities of a best-in-class software company, SAP Fioneer enables banks, insurance companies and challengers to run, transform and grow while meeting their need for speed, scalability, and cost-efficiency through digital business innovation, cloud technology, and solutions that cover banking and insurance processes end-to-end.

Contact, press only:

[email protected]

Stay in the know

Never miss a Fioneer story - sign up for our newsletter.