Enterprise software company, Software AG has expanded its long-standing partnership with Commerzbank, a global banking and financial services company to center the bank’s digital transformation on Software AG technology. The two companies have signed an agreement to cement this new aspect of their partnership.
According to the Germany-based software company, in light of the radical changes in the financial sector, banks are challenged with how to effectively meet the challenges and opportunities presented by digitalization. Disruptive trends include cross-channel banking, cloud integration and linking customers’ mobile devices with the banks’ core systems. The company further adds that financial regulatory authorities’ frequently changing legal requirements are also increasing the need for flexible IT architectures.
Software AG claims that its integration platform connects the bank’s disparate systems and processes within its IT landscape and can be used in any IT project worldwide. This reduces the obstacles associated with launching IT projects and results of faster turnaround times and lower costs.
“With its holistic portfolio, Software AG is helping Commerzbank to build a platform that will advance digitalization and contribute to a successful future in the dynamic financial sector,” said Anneliese Schulz, Vice President, Software AG, Asia.
Commerzbank has been working with the software company’s technology for many years. Almost all of Software AG’s digitalization platform components are in use at the bank, specifically the cross-department integration and API management tools.
“The new agreement includes the use of Software AG’s product portfolio, together with the bank’s resources and services, to build a practical platform to support digitalization,” said Andreas Rose, IT Division Director, Commerzbank.
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