Callataÿ & Wouters, a provider of core banking and multi-channel distribution solutions, today announced its partnership with Deutsche Börse Systems AG, part of Deutsche Börse AG, to deliver Thaler on SAP, the vendor's flagship core banking system, to the German market on Software as a Service (SaaS) mode.
The agreement builds on the successes of Callataÿ & Wouters' partnership with Clearstream Services S.A., another Deutsche Börse AG subsidiary, in Luxemburg where the partners secured several joint deals including one with Dresdner Bank. The partnership provides Callataÿ & Wouters with an additional sales channel in Germany for Thaler and supports Deutsche Börse Systems AG's drive to broaden its offering.
For the first time in Germany, Callataÿ & Wouters and Deutsche Börse Systems AG will offer a 'bank in a box' solution suitable for retail, corporate and private banks. Deutsche Börse Systems AG will offer the full range of Thaler solutions to German financial institutions through SaaS, offering them the benefits of best-of-breed core banking software without the risks and long timeframes involved in a full system replacement. The SaaS model will enable German banks to not only avoid the peak in expenditure associated with the set-up of traditional large IT projects but also benefit from a 'hands-free' approach to IT, allowing them to focus efforts on product innovation and customer service. The functionalities offered include, among others, deposits, securities, payments, e-banking and Swift Bureau services.
Thaler on SAP is a scalable core banking system that includes functionality for deposits, loans, securities, treasury and payments as well as multi-channel distribution modules. It is designed to run either as an end-to-end solution, covering the entire range of core banking activities, or on a modular basis to support individual lines of business.
Michael Stremel, Head of Section z/OS and CSD/Exchange Back Office Operations, Deutsche Börse Systems AG, commented: "In this difficult economic climate, banks that realise operational excellence and cost efficiencies in their IT will be in the best position to achieve a competitive advantage. This is, however, not always an easy path to follow. To help banks address this challenge, we partnered with Callataÿ & Wouters who will support us in better servicing our new and existing customers by providing them with the most comprehensive portfolio of SaaS solutions in Germany."
Marc De Groote, CEO, Callataÿ & Wouters, adds: "As banks' IT budgets tighten, financial institutions are faced with the challenge of delivering innovative products and services in an increasingly competitive market. As such, it doesn't come as a surprise that the SaaS model is a key emerging trend. Our partnership with Deutsche Börse Systems AG can provide financial institutions with the tools they need to succeed in the current climate where flexibility and reduced risks are paramount for survival."