Home Trust Company Invests in SAP Software to Transform Core Banking Processes

SAP Canada Inc., a subsidiary of SAP AG, announced that Home Trust Company of Toronto, a wholly-owned subsidiary of Home Capital Group Inc., will implement SAP solutions to transform its core banking processes and increase agility to deliver enhanced products and services on an integrated platform to support its growth.

Using a network of brokers across Canada, Home Trust provides deposits, mortgage and credit card services to clients whose specific needs are not addressed by larger, traditional financial institutions. With SAP for Banking solutions, Home Trust expects to drive significant improvements in managing deposits, loans, treasury and syndications. Home Trust will also leverage SAP applications to streamline financial operations, enhance its ability to deliver superior customer service and manage its finance, human resources and payroll processes across the organization.

"Our success is based on strategic partnerships that deliver long-term value for our business and customers," said Nick Kyprianou, president, Home Trust. "After a thorough evaluation of software providers, we chose SAP because its integrated solution provides the comprehensive functionality and scalability we need. This is expected to allow us to adapt the system as our business needs change and deliver maximum return on our investment in technology. SAP also has a solid reputation in banking and a strong presence in Canada. We are confident that our core banking system transformation will increase our competitiveness and help us to continually exceed our clients' expectations."

Powered by the SAP NetWeaver technology platform, SAP for Banking solutions are designed to enable Home Trust to improve operational efficiency and introduce new products and services faster while reducing costs. Home Trust expects to be able to track customer profitability and optimize opportunities by offering tailored products and services. The applications are also designed to help improve the speed and quality of internal and external reporting, and thus enable Home Trust to adapt to the changing regulatory environment and provide an additional framework in managing the company's risk.

"Financial services companies such as Home Trust need a strong technology foundation for core banking processes to meet the ever-changing demands of their customers and industry," said Richard Daukant, vice president and general manager, Financial Services, SAP Canada. "They need flexible solutions that can help them reduce operational complexity, adapt to future changes in products and markets, and support business strategies. SAP for Banking solutions are built on SAP's proven technology and best practices, which are helping numerous customers worldwide to achieve their goal of becoming best-run businesses."

Home Trust joins more than 680 global banks and financial institutions that use SAP solutions to increase profitability and optimize their businesses.

Source: Finchannel