Disruptive Technology to drive next generation banks

Disruptive Technology is used to describe a technological product, or service that uses a 'disruptive' strategy, rather than a 'revolutionary' or 'sustaining' strategy, to overturn the existing dominant technologies or status quo products in a market.

At a gathering of global thought leaders in IT and banking, Douglas McKibben, Vice President Research, Gartner Financial Services, identified macro digital business trends and individual technologies that are digital disrupters, and examined how financial institutions can leverage technology for growth in any market environment.

Sergio Maccotta, Managing Director, SAP Middle East and North Africa said:

'The banking sector is under increasing pressure to be more customer-centric, reduce costs, respond to regulatory changes, and recruit the best talent. These challenges become barriers to productivity unless the banking sector embraces the growth opportunities that are powered by technology-enabled strategic innovation.'

Other key speakers at the forum were Gerhard Hafner, Vice President, SAP EMEA Banking Solution Consulting, who talked about market trends and attributes of the next generation performers.

Beat Mathys, Chief Information Officer, Zuger Kantonal Bank, discussed the benefits of data consistency across departments and financial systems while Hamish Newlands, Principal Consultant, SAP Global Line of Business Banking, shed light on SAP's unique, integrated finance and risk architecture.

SAP solutions for the banking sector offer innovation - enabling banks to reduce costs and achieve regulatory compliance while differentiating through new products and services.

Photo caption: Sergio Maccotta, Managing Director, SAP Middle East and North Africa, says disruptive technology to drive the next generation of banks.