Virtual Account Management: From customer-centric innovation to standard software
Walldorf, June 6, 2023 – SAP Fioneer, a leading global provider of financial services software solutions and platforms, introduces Fioneer Virtual Account Management (VAM).
In times of a challenging and volatile economic environment and stringent regulatory requirements, corporates are seeking more efficient and cost-effective ways to manage their cash and transactions. VAM enables banks to offer corporate clients to independently control their in-house banking, allowing treasurers to manage complex virtual account structures through full self-service coverage. By providing a clear, real-time picture of an organization’s financial position, VAM is enabling improved strategic planning and decision-making such as more accurate cash forecasting, which in turn can inform investment strategies, funding decisions, and risk management plans. In addition to that, VAM offers real-time visibility into all cash positions across the organization, enabling the treasurer to optimize liquidity, enhance liquidity management and revenue generation – ultimately helping banks stay relevant and resilient in the face of changing customer expectations and technological advancements.
VAM was developed from deep understanding of corporate needs and in close collaboration with leading banks providing these services.
Charlie Platt, Managing Director Banking at SAP Fioneer comments: “Innovation never stops; therefore, we are really pleased to bring the fully productized, core agnostic and cloud available product to our customers. Now more than ever it is exceptionally important for banks to service and offer the most advanced solutions to their corporate customers. Rapid deployment of VAM can provide a lot of competitive advantage quickly, without significant change to the core.”
Fioneer Virtual Account Management can be deployed on premise, in the private cloud and as a managed end-to-end cloud service.
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About SAP Fioneer (www.sapfioneer.com)
Founded in 2021 as a joint venture between the global technology leader SAP and investor DEDIQ, SAP Fioneer’s vision is to build the next generation of financial services software and platforms.
By combining proven world-class technology with development expertise and a broad ecosystem of partners, SAP Fioneer enables banks and insurance companies to transform, grow and differentiate their business while meeting their needs for speed, scalability, and cost-efficiency through digital business innovation, cloud technology, and solutions that cover banking and insurance processes end-to-end. SAP Fioneer has offices and operations spanning the globe and a strong presence in Europe, North and Latin America, and Asia-Pacific.