The UK's Nationwide Building Society is migrating its banking, savings and mortgage operations to the SAP for Banking platform as part of a £300 million business transformation programme.
German vendor SAP says its technology will streamline core processes, reduce costs and improve turnaround and processing of applications and transactions.
The building society, working with technology partners Sap, IBM and Capgemini, will implement the technology in a phased programme, focusing initially on current accounts before moving on to savings, mortgages and branch systems.
The SAP platform will replace systems supplied by Unisys and Fujitsu.
Darin Brumby, divisional director, business systems transformation, Nationwide, says Sap for Banking will provide the building society the flexibility to adapt and respond to unseen future changes and advancements in the industry.
"Not only will it enhance our speed to market with products, it will also improve the overall customer experience with the society while reducing costs," says Brumby.
Thomas Balgheim, SVP, global banking line of business, SAP, adds: "SAP's banking specific solutions are built upon a flexible and scalable platform that provide the foundation for addressing the many challenges faced by financial services providers today, from increased competition and value adding customer services, to the demands of regulatory compliance and managing new growth opportunities."
The SAP deal is part of Nationwide's six year, £300 million, programme to revamp branches and improve Internet and telephone banking services, which began in 2004.