We use cookies and other similar technologies (Cookies) to enhance your experience and to provide you with relevant content and ads. By using our website, you are agreeing to the use of Cookies. You can change your settings at any time. Cookie Policy.


CMBC Selects Accenture and SAP

Originally published November 28, 2005

China Minsheng Banking Corp., Accenture and SAP China, a subsidiary of SAP AG, recently announced an agreement to cooperate in building a world-class core banking system for CMBC. The agreement was formalized at a signing ceremony in Beijing, China. The implementation of the core banking solution by Accenture and SAP is part of the bank's efforts to transform its operations and prepare for future growth.

CMBC decided to transform its current core banking system to help fulfill its growing business needs. After careful consideration and evaluation, CMBC chose Accenture and SAP to revamp the bank's software systems. CMBC expects that the SAP implementation will assist the bank in achieving its growth ambitions and respond to market demands as the Chinese financial market deregulates. CMBC aims to set up a service-oriented banking system architecture—a system designed to enable the bank to accelerate the development and launch of new products and to provide the bank with strong technical support in serving its rapidly growing customer base.

"CMBC competes in a banking environment that is increasingly open, international and compliant with global standards and practices," said Han Wei Xi, General Manager for IT at CMBC. "We wanted to choose internationally renowned solution providers and implementers that have a strong reputation, deep experience, ability to manage risks and deliver on a long-term partnership and with an excellent track record for delivery. Our final decision to choose the plan jointly proposed by Accenture and SAP was based on these criteria. We will leverage the opportunities created by this transition to further strengthen our business capabilities, enhance our performance and build a solid core operation system platform that will enable us to grow into a recognized industry leader and a competitive bank on a global scale."
  
By implementing the SAP for banking solution, Accenture and SAP will help this leading Chinese commercial bank continue to drive advancement and innovation in the industry. The solution—which includes deposit and loans, treasury management and general ledger processing functionalities along with a front-end solution for tellers—is  designed to enable CMBC to manage all transactions through one integrated system. The software will help CMBC streamline its operations, better manage costs, increase profitability and reduce operational risk. As part of its standard core banking software for CMBC, SAP will incorporate localized functionality specific to deposits and loans in China. SAP for Banking will also enable CMBC to more effectively satisfy the demands of China's banking industry laws and regulations. 

This BeyeNETWORK news item contains information from a recent press release by the company mentioned.