SAP Fioneer

At SAP Connect Day for Finance in Seoul, one message came through clearly: simplify the foundation to unlock real progress. During the breakfast roundtable, Wan Ting Lee spoke on the topic of "Trust by Design." The session showed how financial institutions can create a strong data foundation with clear governance, security and consistency built in from the start. At the same time, the broader discussion addressed a familiar challenge: many firms still manage fragmented data, repeated reconciliation and manual effort across Finance, Risk and Regulatory teams. The sessions explored what it takes to move forward from this and reduce complexity. Dongwook Ma from SAP also shared insights on the path to the cloud, while a joint Q&A brought practical perspectives from global client experience on unifying data platforms. The end goal for all of us is clear: one reliable source of truth for accounting, risk and regulatory data — ready for real-time reporting and decision-making. Thank you to everyone who joined us early in Seoul and helped shape an open, engaging discussion. Take a look at the highlights from the event 👇 Youngsun Won, Wan Ting Lee, Dongwook Ma, Carter Sungbum Kim

£51bn in unmonitored transactions. £17m in fines. All down to a data-feeding error. For many financial institutions, risk doesn’t start at reporting. It starts much earlier, like how data moves across systems during close. And when close can take up to 25% of the month, small issues don’t stay small. They carry through. They slow teams down. And in some cases, they lead to penalties. If you’re reviewing your close process, this article breaks down where risk starts and what to watch for. Read the full article here: https://lnkd.in/d5vW_ujj

Your biggest modernization bottleneck may not be your tech stack. It could be your skills pyramid. Many banks have deep legacy expertise concentrated at senior levels and too few early-career engineers who can work in modern delivery models. Hiring more people alone doesn’t fix that. The banks that move faster treat modernization as a capability ecosystem. They: → Build joint development centers with partners → Create early-career programs that blend banking and software engineering → Design cross-functional rotations so product, risk and technology learn together This sits inside a broader modernization value chain where data, intelligence and delivery are connected to create continuous value across the bank. Read our article to see how AI, architecture and talent come together in the “AI-ready core”: https://lnkd.in/davCaFpN

Finance teams in banks and insurers face rising expectations, but many still rely on fragmented systems built for a different era. These legacy environments add cost and delay. KPMG research highlights the scale of the issue, with 58% of financial services execs citing shortcomings in foundational IT as a source of operational disruption. This reinforces the need to rethink how finance systems are structured. Our recommendation? A move toward multi-domain finance modernization. One that connects accounting and non-accounting dimensions such as finance, risk and operations on a single data foundation and aligned operating and reporting schedule. Importantly, this isn't just a CFO concern. Finance modernization touches Finance, Data, IT, Operations, Risk and Actuarial teams. Its impact extends across the C-Suite. We share why finance modernization needs leadership‑wide sponsorship and how banks can begin taking a multi‑domain approach in our whitepaper. Download link below in the comments.

Liquidity is moving from oversight to action.   Last week at CefPro Risk Evolve in London, we were proud to be part of the agenda as an event sponsor and active contributor to the discussion. On day one, Joel Feazell, Head of Liquidity Management, moderated a dedicated track, bringing practical perspectives to the conversation. Benjamin Biset and Christine Taylor joined onsite and we had great discussions at our booth throughout the event.   Three themes stood out clearly: - Liquidity management cycles are shortening, increasing pressure for real-time insight and response - While regulation globally feels uneven, UK and European regulators are aligned on expectations for real-time liquidity oversight - Our sense that we are moving from a monitoring and reporting environment to one of active liquidity and cash management was confirmed by both banks and the ECB, who were present at the event.   Beyond the sessions, the event created space to reconnect with long-standing contacts and build new relationships across UK and European banking.   Thanks to Center for Financial Professionals (CeFPro) for a well-run event. We’re looking forward to continuing these conversations and strengthening these partnerships in the weeks ahead.

ISO 20022 was meant to simplify payments. So why is it still so complicated? Two decades after its introduction, banks are still struggling to fully adopt the standard. Inconsistent implementations, evolving requirements and legacy systems have turned compliance into a costly, ongoing battle. The real challenge isn’t just meeting the requirement – it’s moving beyond minimum compliance to capture the full benefits ISO 20022 was designed for: richer data, better transparency and improved customer experience. We break down the complex reality of ISO 20022 adoption and how banks can turn it into a competitive advantage in our article: https://lnkd.in/dtyA5xhW

SAP Fioneer war bei der 5. Edition des Embedded Insurance Fokustags der Versicherungsforen Leipzig am 16. und 17. April in Leipzig vertreten. Rund 60 Teilnehmende aus der Branche, u. a. von der Zurich Insurance, R+V Versicherung, Swiss Re, Howden sowie PwC und Senacor Technologies, tauschten sich zu aktuellen Entwicklungen und Zukunftsperspektiven von Embedded Insurance im DACH-Raum aus. Im Panel „Zwischen Hype und Haftung“ zeigte Bernd Blasczyk, wie Embedded Insurance mithilfe von Technologie zu einem nachhaltigen Wachstumskanal werden kann. In einem Roundtable, moderiert von Agnieszka Beckmann, MBA, ging es um die Fähigkeiten, die Versicherer und Partner benötigen, um innovative, personalisierte und zugleich skalierbare Embedded-Insurance-Produkte erfolgreich zu entwickeln. Vielen Dank an Tina Lindig und Sina Plietzsch für die großartige Organisation!

Data has become one of the biggest risk factors in financial services. In the Bank of England's 2024 survey of AI in UK financial services, four of the top five perceived current risks were data-related. The three biggest included data privacy and protection, data quality and data security. Finance regulations rely on consistent data logic and traceable models. But many banks and insurers still work with fragmented architectures across accounting, risk and business systems. Legacy platforms and manual workflows make integration IT-heavy and costly. Each regulatory change triggers new integration and testing cycles. McKinsey estimates that 6-12% of IT budgets go to data architecture, even though better data models could reduce that cost by around 20%. We explore the cost of poor data quality in more detail, including insights from our own research, in this article → https://lnkd.in/daHDKXwB

Wie modernisiert man gewachsene Banken-IT realistisch – ohne Stillstand im Betrieb? Marko Wenthin, Banking Partner, hat mit Payment & Banking - PBA Experts GmbH darüber gesprochen, wie Banken ihre Kernsysteme schrittweise modernisieren können, warum saubere Daten die Grundlage für KI sind und welche Rolle Cloud, Regulierung und europäische Souveränität künftig spielen. Jetzt weiterlesen und reinhöfen: https://lnkd.in/dpQU44Wg

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