Latest news with #SAPFioneer
Forbes
06-08-2025
- Business
- Forbes
The Fintech Backbone Behind Nationwide's 4 Billion Payments
Nationwide Building Society, the British financial leader, is a mutual organization, meaning it's owned by its members or customers, rather than shareholders. This structure allows Nationwide to prioritize the needs and interests of its members in its operations and decision-making. 'Unlike other banks, we are owned by everyone who banks, saves or has a mortgage with us,' said Otto Benz, Payments Director at Nationwide Building Society. He was speaking at the recent SAP and SAP Fioneer Forum for Financial Services event presented by TAC Insights in Munich. 'This means we can always focus on what's best for them. It's our fundamental difference and what makes us a good way to bank.' Benz described the bank's transformational journey as both complex and essential, requiring a balancing act between enabling innovation and maintaining resilience as its core platforms are transformed. Benz wears two hats at Nationwide: one leading the payments agenda and the other overseeing customer technology. This includes core banking and savings platforms, mortgage platforms, payments infrastructure, and most of the non-digital channels—all underpinned by SAP and solutions from the SAP Fioneer partnership. A huge volume The largest mutual building society in the United Kingdom, the bank manages over £367 billion in assets, serving around 16 million customers with over 23 million retail accounts. 'We're responsible for about 11% of the UK's consumer banking market, meaning a significant portion of the country relies on us to get paid, manage their savings, and make everyday purchases,' said Benz. Payments, understandably, are a huge focus. Each year, the bank processes over 4 billion payment transactions, including: At peak, the bank handles around 100 payments per second. With those volumes, stability isn't optional—it's mission-critical. The bank's transformation story with SAP began in 2005. Originally estimated at £100 million ($135 million), the first wave of implementation ended up costing five times as much over five years. But that investment laid the foundation for the bank's current account infrastructure—today, it supports more than 10 million live current accounts on banking solutions from SAP. The savings side has been a more gradual transition. 'We've spent the past 15 years migrating roughly 14 million legacy savings accounts, with half now moved. Our CIO for Retail assures me the rest will be done 'by Christmas'—though she didn't specify which one,' said Benz with a chuckle. The complexity of change Benz explained that the team had inherited legacy payments platforms built on aging Microsoft BizTalk infrastructure. Though surprisingly capable, it was originally designed for much lower volumes. Fast forward to today, and it was buckling under pressure, particularly as virtualization introduced instability. Its real-time Faster Payments platform has been replaced with a cloud-native solution and batch processing is being replaced with the Payment Central solution from SAP Fioneer. The solution is designed to meet today's resiliency standards, including 99.99% uptime, high availability, and faster releases. However, things rarely go according to plan. Sometimes, releases are late; pressure is high. The stakes are enormous. To top it off, the bank is also mid-way through migrating its more than 30 million customer records from legacy systems to SAP Business Technology Platform while simultaneously planning for the integration of customers from its recent acquisition of Virgin Money—bringing in millions more accounts. 'It's tempting to think of change as linear,' said Benz. 'In reality, it's like rewiring a house under strict building regulations while people are still living in it. Every change, however small, must be carefully orchestrated around ongoing customer needs and system uptime.' The bank is moving to real-time, cloud-native platforms while also preparing payments, customer records, and eventually Virgin Money's systems for full integration. 'All this needs to happen with minimal outages, zero data loss, and full compliance with regulators who can be skeptical of anything cloud-based,' said Benz. Lessons in resilience Resilience versus innovation is a balancing act. Resilience demands stable, recoverable systems and slow, deliberate changes. Innovation demands fast delivery, fail-fast mindsets, and rapid iteration. In banking, especially retail, the margin for error is razor thin. Customers expect their payments to go through instantly—and if benefits don't hit accounts at 12:30 a.m., the bank can be sure of a headline in The Sun by breakfast. After 20 years, its SAP environment is heavily customized. Middleware sprawl, layered integrations, and homegrown mini subledgers were a barrier to adopting newer SAP solution capabilities—such as financial products subledger (FPSL) or modern APIs. There's also a lack of business appetite to invest in technical upgrades that don't show direct value. Convincing finance teams to sponsor a major overhaul requires a compelling ROI story—which isn't easy to tell when the benefits are long-term resilience rather than immediate features. Benz outlined the major action items for the next year: Benz concluded by saying that in banking, no one praises the system that just works. 'For us, the best payments platform is the one no one notices,' he said. 'If we get to a place where customers never think about us—because their money just arrives, their app just works, and their savings just grow—then we've done our job right.'
Finextra
30-06-2025
- Business
- Finextra
SAP Fioneer releases AI agent
SAP Fioneer, a leading global provider of financial services software solutions and platforms, today announced the launch of its AI Agent: an expert-built solution designed to intelligently enhance core operations of financial services institutions. 0 The first release of the Fioneer AI Agent lays the foundation for banks and insurers to automate processes, gain real-time insights, and make smarter decisions using natural language and without the need to share data externally. The Fioneer AI Agent is generally available now as an add-on for SAP Fioneer S/4HANA products in Banking, Insurance, and Finance. By leveraging the suspense account analysis, finance teams can generate complex reports using natural language, significantly reducing manual effort, improving operational efficiency, and achieving considerable time savings. 'Our approach to AI-powered financial services focuses on delivering tangible outcomes to our customers in two ways: Embedded directly into our products and solutions or, via our AI Agent, operating across our portfolio as a powerful add-on', said Dirk Kruse, CEO at SAP Fioneer. 'Unlike generic AI tools, the Fioneer AI Agent comes pre-configured to integrate seamlessly with Fioneer's products and future data models and is engineered with deep expertise for the financial services industry.' The Fioneer AI Agent delivers intelligence that is integrated into SAP Fioneer's banking, insurance, and finance solutions, offering contextual, transparent, and actionable use cases without the need for custom development and heavy IT dependance. It empowers financial professionals to interact with data using natural language, eliminating reliance on IT teams and accelerating time to value. Designed for flexibility, the Fioneer AI Agent supports bring-your-own-LLM strategies as well as SAP BTP AI Core LLMs and will integrate with SAP Joule and other agents such as Microsoft Copilot. Integrated and aligned with the SAP strategy, it ensures full compliance with data privacy and auditability standards, making it a trusted solution for institutions seeking to scale AI responsibly and effectively. Fioneer's AI Agent is developed in alignment with industry-standard AI ethics frameworks, ensuring fairness, transparency, and human oversight.
Business Insider
30-06-2025
- Business
- Business Insider
SAP Fioneer launches AI Agent to transform financial services operations
Walldorf, Germany, June 30th, 2025, FinanceWire SAP Fioneer, a leading global provider of financial services software solutions and platforms, today announced the launch of its AI Agent: an expert-built solution designed to intelligently enhance core operations of financial services institutions. The first release of the Fioneer AI Agent lays the foundation for banks and insurers to automate processes, gain real-time insights, and make smarter decisions using natural language and without the need to share data externally. The Fioneer AI Agent is generally available now as an add-on for SAP Fioneer S/4HANA products in Banking, Insurance, and Finance. By leveraging the suspense account analysis, finance teams can generate complex reports using natural language, significantly reducing manual effort, improving operational efficiency, and achieving considerable time savings. 'Our approach to AI-powered financial services focuses on delivering tangible outcomes to our customers in two ways: Embedded directly into our products and solutions or, via our AI Agent, operating across our portfolio as a powerful add-on', said Dirk Kruse, CEO at SAP Fioneer. 'Unlike generic AI tools, the Fioneer AI Agent comes pre-configured to integrate seamlessly with SAP Fioneer's products and future data models and is engineered with deep expertise for the financial services industry.' The Fioneer AI Agent delivers intelligence that is integrated into SAP Fioneer's banking, insurance, and finance solutions, offering contextual, transparent, and actionable use cases without the need for custom development and heavy IT dependance. It empowers financial professionals to interact with data using natural language, eliminating reliance on IT teams and accelerating time to value. Designed for flexibility, the Fioneer AI Agent supports bring-your-own-LLM strategies as well as SAP BTP AI Core LLMs and will integrate with SAP Joule and other agents such as Microsoft Copilot. Integrated and aligned with the SAP strategy, it ensures full compliance with data privacy and auditability standards, making it a trusted solution for institutions seeking to scale AI responsibly and effectively. SAP Fioneer's AI Agent is developed in alignment with industry-standard AI ethics frameworks, ensuring fairness, transparency, and human oversight. About SAP Fioneer SAP Fioneer is a global provider of financial services software. We deliver modern platforms and solutions that enable financial institutions run core operations, drive innovation, and meet evolving regulatory demands. Built on SAP technology and backed by deep industry expertise, our modular approach enables clients to scale securely, adapt quickly, and lead with confidence. Headquartered in Germany and supported by over 1,300 employees worldwide, SAP Fioneer is a trusted partner to more than 1,200 banks and insurers and committed to long-term partnerships across the financial services ecosystem.
Yahoo
12-06-2025
- Business
- Yahoo
Azentio expands regional leadership team to drive growth in MEA
SINGAPORE, June 12, 2025 /PRNewswire/ -- Azentio Software, a leading B2B technology provider specializing in the banking, financial services, and insurance (BFSI) sector, today announced two strategic appointments to its regional leadership team in the Middle East and Africa (MEA). These new hires reflect the company's continued investment in strengthening client partnerships and accelerating market expansion in the region. Joining Azentio's Dubai office are: Bashir Khouri, Head of New Business Sales – MEABashir joins Azentio from SAP Fioneer where he led the regional go-to-market strategy and is an accomplished sales leader with over 15 years of experience delivering growth and building strong client relationships across the region. In his new role, he will spearhead Azentio's go-to-market efforts across MEA, with a focus on driving customer acquisition and expanding into new verticals and territories. Bashir brings deep domain expertise in digital and core banking, cloud computing, enterprise performance management, governance and compliance, and business intelligence, holding a Bachelor's degree in Computer Science, as well as executive education credentials from Harvard Business School Online and eCornell University. His previous roles at SAP and MDSAP saw him successfully drive aggressive growth strategies, optimize sales operations, and engage C-level stakeholders. "I'm proud to be joining Azentio at such a dynamic time," said Bashir. "The company's vision, product strength, and commitment to client success are truly compelling. I look forward to helping expand our footprint and create meaningful value for customers across the region." Sam Henderson, Head of Existing Business Sales – MEASam is a seasoned sales leader with a strong track record in building high-performing teams, developing strategic partner ecosystems, and driving growth across enterprise applications, cloud, and cybersecurity. He joins Azentio from Trellix, where he led Channel and OEM Sales across Asia Pacific and Japan during a transformative period following the acquisition of McAfee and FireEye. His earlier roles include leadership positions at AWS, focused on enterprise application partner sales and SAP alliances, and SAP, where he spent six years overseeing general business and channel sales in the region. Sam also played a key role in launching a joint Microsoft-NetApp cloud solution in 2019, helping customers solve complex infrastructure challenges in the cloud. "I'm excited to join Azentio at such a pivotal time for the business," said Sam. "I look forward to leading the account management organisation across MEA and working closely with our customers to deliver an industry-leading experience that supports their growth and digital transformation." These appointments follow Azentio's recent expansion in the region, including the opening of its new offices in Dubai and Cairo, which serve as strategic hubs for its operations across the Middle East and Africa. Rahul Arora, Chief Sales Officer at Azentio, commented: "We are thrilled to welcome Bashir and Sam to Azentio. Their leadership, experience, and understanding of the MEA market will be instrumental in driving our ambitious growth agenda. As we continue to scale our business in the region, our priority remains delivering transformative technology solutions and exceptional service to our clients." About Azentio Azentio is a leading provider of purpose-built, intelligence-driven technology solutions designed to transform the banking, financial services, insurance (BFSI), and enterprise resource planning (ERP) sectors. By combining cutting-edge innovation with deep domain expertise, Azentio empowers businesses to accelerate growth, enhance operational efficiency, and stay ahead in a rapidly evolving market. With a strong presence across the Middle East, Africa, and Southeast Asia, Azentio delivers world-class technology that streamlines processes and delivers tangible results, enabling organizations to achieve sustainable success. For more information on Azentio, please visit Logo: View original content: SOURCE Azentio Software Pvt Ltd
Zawya
12-06-2025
- Business
- Zawya
Azentio Expands Regional Leadership Team to Drive Growth in Middle East and Africa (MEA)
Azentio Software ( a leading B2B technology provider specializing in the banking, financial services, and insurance (BFSI) sector, today announced two strategic appointments to its regional leadership team in the Middle East and Africa (MEA). These new hires reflect the company's continued investment in strengthening client partnerships and accelerating market expansion in the region. Joining Azentio's Dubai office are: Bashir Khouri, Head of New Business Sales – MEA Bashir joins Azentio from SAP Fioneer where he led the regional go-to-market strategy and is an accomplished sales leader with over 15 years of experience delivering growth and building strong client relationships across the region. In his new role, he will spearhead Azentio's go-to-market efforts across MEA, with a focus on driving customer acquisition and expanding into new verticals and territories. Bashir brings deep domain expertise in digital and core banking, cloud computing, enterprise performance management, governance and compliance, and business intelligence, holding a Bachelor's degree in Computer Science, as well as executive education credentials from Harvard Business School Online and eCornell University. His previous roles at SAP and MDSAP saw him successfully drive aggressive growth strategies, optimize sales operations, and engage C-level stakeholders. 'I'm proud to be joining Azentio at such a dynamic time,' said Bashir. 'The company's vision, product strength, and commitment to client success are truly compelling. I look forward to helping expand our footprint and create meaningful value for customers across the region.' Sam Henderson, Head of Existing Business Sales – MEA Sam is a seasoned sales leader with a strong track record in building high-performing teams, developing strategic partner ecosystems, and driving growth across enterprise applications, cloud, and cybersecurity. He joins Azentio from Trellix, where he led Channel and OEM Sales across Asia Pacific and Japan during a transformative period following the acquisition of McAfee and FireEye. His earlier roles include leadership positions at AWS, focused on enterprise application partner sales and SAP alliances, and SAP, where he spent six years overseeing general business and channel sales in the region. Sam also played a key role in launching a joint Microsoft-NetApp cloud solution in 2019, helping customers solve complex infrastructure challenges in the cloud. 'I'm excited to join Azentio at such a pivotal time for the business,' said Sam. 'I look forward to leading the account management organisation across MEA and working closely with our customers to deliver an industry-leading experience that supports their growth and digital transformation.' These appointments follow Azentio's recent expansion in the region, including the opening of its new offices in Dubai and Cairo, which serve as strategic hubs for its operations across the Middle East and Africa. Rahul Arora, Chief Sales Officer at Azentio, commented: "We are thrilled to welcome Bashir and Sam to Azentio. Their leadership, experience, and understanding of the MEA market will be instrumental in driving our ambitious growth agenda. As we continue to scale our business in the region, our priority remains delivering transformative technology solutions and exceptional service to our clients." Distributed by APO Group on behalf of Azentio Software Private Limited. Contacts: Media Sohini Bhattacharya About Azentio: Azentio is a leading provider of purpose-built, intelligence-driven technology solutions designed to transform the banking, financial services, insurance (BFSI), and enterprise resource planning (ERP) sectors. By combining cutting-edge innovation with deep domain expertise, Azentio empowers businesses to accelerate growth, enhance operational efficiency, and stay ahead in a rapidly evolving market. With a strong presence across the Middle East, Africa, and Southeast Asia, Azentio delivers world-class technology that streamlines processes and delivers tangible results, enabling organizations to achieve sustainable success. For more information on Azentio, please visit
