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More than ever before do financial institutions need to address insufficiencies in their IT Systems and Business Process landscape.
Strategic objectives and tactical solutions come to life only if the IT infrastructure is up for it and required software systems are in place and streamlined to deliver
With an isolated view on a software application it is obvious that it must be configured to do its tasks correctly and efficiently. The point is, however, that this is true only for what the system can do and not what it is strategically supposed to do. For this, usually multiple solutions work in tandem. Thus an isolated view on each system is, though necessary, insufficient. An intact Systems Landscape and System Interfacing is key to implementing strategies.
With an overall view on software systems it is apparent that technically instable or inefficient interfacing has the reverse effect and reduces the level of automation, binding more human resources in order to manually intervene for implementing business processes.
Established systems that have historically followed and served the industry may be good candidates to efficiently rescue the future of an institution. These systems must be kept technologically up-to-date and fit for the future of the financial industry.
Heritage, wealth of background and experience are not enough to tackle the challenges faced today. Systems must be future-proof by offering both solid and cutting edge technological capabilities for processing, automation and interfacing.
Among the best systems to address requirements are the MX.3 and SAP S/4HANA platforms. They are complementary: domain strengths are non-overlapping. Both have been kept technologically up to date.
SAP's product suite covers required functionality extending beyond banking and insurance. The state-of-the-art in-memory platform sets new standards in speed and performance.
Some of the features of MX.3 are listed below.