SAP introduced the new Financial Services Data Platform (FSDP) to the market in November 2017. They recognised the continuous change in the financial world and responded with its new solution for banks and insurers. The financial industry is constantly changing and is increasingly challenged by regulators, the capital markets and customers. The efficient use of data is gaining vital importance for financial institutions. For example, the regulator requires comprehensibility of the data at all times with BCBS 239. On the other hand, the capital markets expect to receive current information on the financial institution. FSDP has a SAP HANA database as its basis and incorporates previous experience with SAP Bank Analyzer. The data model includes all relevant information for the application areas of finance, regulation, controlling, risk, sales and fraud management.
There ist a close interlinking between the S/4 Finance solution, FSDP and the associated integration of this data is ensured by the joint use of the S/4HANA database. The solution was brought on board for achieving regulatory requirements such as e.g. AnaCredit and allowed this part to be developed as part of the Abacus360 solution. FSDP will be supplemented by additional regulatory content. The technical framework is embedded into the specialist processes. SAP has placed a specialist layer over the technical data model. Using this layer, companies can easily understand the information relevant for them in FSDP. To this end, a blueprint of the company architecture is created with the aid of SAP PowerDesigner which can be easily carried out using Drag’n’Drop via the graphic surface of the tool.
Since the development of the SAP Bank Analyzer, we have been assisting our customers with introduction and further development in all areas. We can also provide support in the area of data management independently of tools. Our experience with various large banks nationally and internationally shows time and again that banks often face significant challenges with data models developed internally such as controlling complexity or selecting suitable software. The customer-specific requirements can be implemented with a standardised solution using SAP FSDP. We will support you with transforming your existing software situations into a rapid and efficient software architecture. Together with you, we will evaluate which approach (greenfield, mixed or brownfield) is best. The different implementation approaches have advantages and disadvantages that differ in cost and complexity.
We will advise you on finding the best way of introducing SAP FSDP for your needs, irrespective of your existing application environment (whether coming from SAP Bank Analyzer or from a particular Single Point of Truth (SPOT)).