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Home / Industries / Banking Services Solution

BANKING SERVICES SOLUTION

IFRS REQUIREMENTS AND THE BEST PRACTICES FOR IAS AND IFRS OFFERING FOR BANKS
Based on a flexible, scalable infrastructure, the SAP for Banking solution portfolio provides a robust environment for incorporating new technologies, controlling core banking processes, and extending operations to the Internet. Innovative core banking capabilities seamlessly connect front-office activities with back-office systems and enable low-cost, real-time processing of key financial transactions. SAP for Banking supports your critical processes with industry-specific applications.

The offering is designed around a central data pool and standardized methods and can seamlessly be integrated into an efficient overall enterprise management offering.

Using TekYogis solution offering you can prepare an IAS/IFRS-compliant financial report, you can create a parallel financial statement based on a central data pool fed by your bank's existing system landscape.

For IAS/IFRS-relevant business transactions, IAS/IFRS-compliant values are calculated and published in the bank's financial report. This technique avoids parallel and redundant data storage.Local values are replaced only if the results in the local financial report differ from the IAS/IFRS figures. Finally, the original data that complies with IAS/IFRS and the newly calculated IAS/IFRS results are consolidated according to your bank's reporting requirements and analyzed in the SAP Business Information Warehouse (SAP BW) component. This data can be exported for further processing in other applications as needed.

The comprehensive Solutin for Banking solution portfolio, together with our leading business support and analytical applications, helps optimize banking business processes, making it possible for organizations to transform your business.

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