June’s live Cloud Wars Expo event featured dozens of industry leaders allowing the Acceleration Economy team access to the inner workings of the greatest growth market the world has ever known.
In this News Desk interview, Principal Analyst Aaron Back welcomes SAP’s Global Head of Insurance Toni Tomic, GVP Falk Rieker, and SAP Fioneer President Mitch Bouchard for a discussion on SAP’s financial services solutions.
00:01 — Members of the panel introduces themselves and how their roles connect to the SAP financial services cloud.
01:51 — Aaron opens the discussion with how SAP addresses purpose-built solutions. For 20 years, SAP has built financial services-specific solutions, evolving from a longstanding “finance heritage.”
03:21 — SAP’s innovative approach to the finance sector includes dedicated resources to regulatory compliance and security.
03:51 — Bouchard emphasizes the company’s significant investment in banking and insurance cloud tech as well as processes through SAP Fioneer.
05:14 — Rieker discusses SAP’s efforts to meet sustainability goals for 25 different industries. “Sustainability is top of mind” for SAP and goes well beyond the ESG report.
06:55 — Companies are prone to invest in organizations with a proven track record of sustainable products and operations.
07:36 — SAP’s financial software solutions reportedly manage $3-4 trillion in assets.
09:02 — Tomic continues outlining the scope of the company’s partnerships, adding SAP workforce management currently supports 278 million users.
10:20 — Partners trust the cloud with huge volumes of sensitive data. Rieker explains how the financial services cloud is prepared to enforce high standards of cybersecurity. Trust is the biggest currency for financial services.
12:57 — Tomic gives examples of SAP co-innovation. Bouchard expands on the flexibility SAP Fioneer provides when co-innovating with clients,
15:31 — Bouchard addresses the challenges of bringing SAP’s labs closer to the client to recognize potential gaps in solution development.
16:38 — Aaron wraps the discussion on investing in an evolving industry; solutions that may have worked years ago won’t work now.
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