SAP Fioneer Omnichannel Banking Solution 

Accelerating your digital transformation

Traditional banks are embracing new technologies to help them transform their business capabilities. Digital banking is leading this transformation journey by reducing operational costs by moving customer interactions from costly physical branches and call centers to efficient, cloud-based digital channels.

SAP Fioneer is one of few vendors offering a seamless, end-to-end integrated core banking solution (Omnichannel Banking). Our platform integrates both front and back office operations with fully integrated payment capabilities.

Why digital banking is leading this transformation journey

Digital banking reduces costs and boost efficiency. By shifting routine tasks like account management and money transfers to digital channels, banks free up staff for more complex services.

In turn, this also significantly improves the customer experience, leading to higher loyalty. Instead of disconnected, siloed verticals that do not talk to each other, banks now gain real-time insights into customer behavior, helping them better understand the customer needs and deliver more personalized services.

In addition, digital channels are also able to integrate third-party and fintech vendors through open APIs. These external capabilities enhance the bank’s existing capabilities, increasing overall customer spending and reducing operational costs.

Omnichannel banking allows the customer to start a process on one channel and finish it on another. Banks benefit from real-time visibility into customer interactions, opening up more opportunities for cross-selling and up-selling.

The evolution of SAP Fioneer’s Omnichannel Banking Solution

Our Omnichannel Banking Solution began with Financial Fusion, a fintech startup from Utah, USA. Sybase acquired Financial Fusion in the early 2000s and expanded its capabilities before it was purchased by SAP in 2010.

SAP continued selling Financial Fusion as part of its banking product portfolio, but migrated the existing solution to a modern, modular cloud platform. This allowed for the addition of new features and capabilities as well as flexibility in its deployment. The product name was changed to Omnichannel Banking (OCB) and remains a robust and evolving solution today.

A modern, modular banking platform with SAP Fioneer

SAP Fioneer continues to enhance OCB, a fully responsive, open API-enabled platform for retail, small business and commercial banking.

Built on the latest industry standard technologies like Java, OData, HTML5, Omnichannel Banking runs as an in-cloud or on-premise solution. As a cloud solution, it can be deployed on any one of the major hyperscalers or private cloud provider environments.

Omnichannel Banking out-of-the-box features include:

• Onboarding and account origination
• Real-time account balances and transaction details
• Domestic and cross-border payments
• Blockchain based wallets/stored value accounts
• Loyalty management
• Taxes
• AI-driven personal finance management (PFM)
• Chatbots and video chat capabilities using a machine learning (ML) framework
• Cash management
• Approval workflows and user administration tools

As an open banking platform, OCB uses open API standards and currently exposes more than 850 APIs, allowing fintechs and third-party developers to build applications and services independently.

Customization and innovation made easy

SAP Fioneer’s Omnichannel Banking Solution has a fully responsive user interface, built using a responsive and extensible HTML5 based framework. This provides banks with the ability to build amazing user experiences for their customers.

They can also customize the user experience using the Customer Experience Manager — a no-code platform included with OCB. New functionalities and features can be added through a low-code extension framework.

Bank-specific innovations are deployed as microservices, making upgrades easier and reducing time to market. The orchestration layer lets customers switch channels mid-process, while simultaneously giving real-time analytics to the banks that provide them with a complete view of customer behavior across channels. This insight helps banks better identify opportunities to up-sell or cross-sell across multiple business lines.

Why choose SAP Fioneer for omnichannel banking?

SAP Fioneer brings more than 20 years of experience in digital banking. We are able to offer our banking customers stability and innovation, offering them a reliable yet scalable and agile platform.

Few vendors can match our fully integrated, end-to-end core banking solution. It connects front and back office operations with seamless payment capabilities.

Having insights into your customers’ needs is essential to any digital strategy today. That’s why we also offer SAP Qualtrics integration with our Omnichannel Banking Solution, allowing banks to analyze customer feedback and refine their digital strategies. This ensures a better experience and stronger customer relationships.

Ready to learn more?

Interested in transforming your digital banking experience?

Contact us now to explore how SAP Fioneer’s Omnichannel Banking Solution can support your journey.