Microgen (LSE: MCGN), the IT services and solutions provider, has today announced that it is extending its partnership with SAP AG to provide compliance solutions to Banks and Financial Institutions. Microgen and SAP are integrating Microgen Aptitude™, rules-based business process automation software, with SAP Analytical Banking to accelerate banks’ ability to meet changing compliance and reporting needs.
“The management, compliance and finance functions within banks are currently under pressure,” comments Elizabeth Sipiere, MD, Microgen Banking. “We are delighted to be working together with SAP to deliver the components needed to meet existing and emerging regulatory standards in financial markets and accounting. Together we aim to set best practices for financial reporting and for managing the risks inherent in today’s complex international banks.”
Microgen, already an approved SAP partner for software, hosting and services, is a recognized leader in the provision of integration tools for financial and operational control of complex financial instruments across global markets. The extensive reconciliation and data transformation functionality of Microgen Aptitude together with Microgen’s experience of working with the finance and risk control departments of major banks combined with Analytical Accounting and Risk Applications from SAP, deliver a best practice solution for compliance and control in the banking sector.
Microgen Aptitude is a Business Process Automation tool which delivers integration, business rules, workflow and business activity monitoring. SAP Analytical Banking, part of the SAP for Banking solution portfolio based on SAP NetWeaver, is a product family developed with input from more than 20 major financial institutions. The solution enables more efficient collecting, reporting and auditing of financial information by centralizing financial data in a common database. The joint offering utilizes Microgen Aptitude’s extensive integration capability and performance to allow banking organizations to integrate SAP Analytical Banking into a heterogeneous systems’ environment and minimize the integration risks inherent in compliance projects.
The solution will be available world-wide from 25th April 2006.