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Darmstadt, Germany, 11/28/2016
Software AG (Frankfurt TecDAX: SOW) has expanded its long-standing partnership with Commerzbank to center the banks digital transformation on Software AG technology. The two companies have signed an agreement to cement this new aspect of their partnership.
In light of the radical changes in the financial sector, banks are challenged with how to effectively meet the challenges and opportunities presented by digitalization. Disruptive trends include cross-channel banking, cloud integration and linking customers’ mobile devices with the banks’ core systems. Financial regulatory authorities’ frequently changing legal requirements are also increasing the need for flexible IT architectures.
Software AG’s integration platform connects the bank’s disparate systems and processes within its IT landscape and can be used in any IT project worldwide. This reduces the obstacles associated with launching IT projects and results in faster turnaround times and lower costs.
Commerzbank has been working with Software AG technology for many years. Almost all of Software AG's digitalization platform components are in use at the bank, specifically the cross-department integration and API management tools.
"The new agreement includes the use of Software AG’s product portfolio, together with the bank's resources and services, to build a practical platform to support digitalization, "said Andreas Rose, Commerzbank IT Division Director.
"With its holistic portfolio, Software AG is helping Commerzbank to build a platform that will advance digitalization and contribute to a successful future in the dynamic financial sector," said Werner Rieche, Managing Director of Software AG Germany.
About Software AG
The digital transformation is changing enterprise IT landscapes from inflexible application silos to modern software platform-driven IT architectures which deliver the openness, speed and agility needed to enable the digital real-time enterprise.
Software AG offers the first end-to-end Digital Business Platform, based on open standards, with integration, process management, in-memory data, adaptive application development, real-time analytics and enterprise architecture management as core building blocks. The modular platform allows users to develop the next generation of application systems to build their digital future, today.
With over 45 years of customer-centric innovation, Software AG is ranked as a leader in many innovative and digital technology categories. Software AG has more than 4,300 employees, is active in 70 countries and had revenues of €873 million in 2015.
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