Banking Technology June 2016

Banking Technology June 2016

The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.

The latest from our Editor, Tanya Andreasyan:

Have you ever thought of empathy in the banking technology space? Are banking software and solutions developers ever empathic towards their customers? Should they be?

Bill McDermott, CEO of SAP, thinks that yes, they most definitely should. Empathy was the central word in his keynote speech at the opening of SAP’s annual event, Sapphire, which Banking Technology attended (alongside 30,000+ delegates).

For the previous two years, “simple” was the key messaging umbrella for SAP (the “Run Simple” logo replaced the earlier “Run Better” one), but now it has been moved aside by “empathy”.

“This is all about you, our customers, and what makes us special is that we have a covenant with you that is unbreakable,” McDermott proclaimed. The covenant is a mighty one indeed, as 76% of the world’s transactions run on an SAP system, which translates into nearly $39 trillion in global commerce.

“Everything has to start with empathy for the end-user and the experience they are getting from your company,” said McDermott. “We feel strongly that design thinking and innovation is the way forward. So we truly have to understand that with every encounter with our customers means we have to understand their customers. We have to make the world run better, we have to improve people’s lives one customer at a time and that’s the commitment I give to you today.”

The theme was enthusiastically picked up by other SAP senior executives presenting at the event as well as Microsoft’s CEO, Satya Nadella, who was on stage with McDermott discussing a major partnership commitment between the two juggernauts.

And if customers feel that SAP is not delivering on its promises or want to share their tech woes, they can email him directly (yes, really). “If you’re not feeling the love, I want to hear from you,” McDermott stated. “Email me at bill.mcdermott@sap.com.” I wonder if his mailbox has unlimited size…

Following the keynote speech, the word “empathy” was quickly becoming the most used word of Sapphire – with suggestions to curb the enthusiasm for it before it turns into a drinking game.

But joking aside, I feel it is a thought-provoking subject – how often do you come across a vendor that genuinely listens to its customers and cares? On the other hand, can any software supplier (and particularly the one the size of SAP) possibly cater to everyone’s individual needs and do so “empathically”?

The June 2016 edition of Banking Technology features:

Payments commentary
Demand for a digital equivalent of cash remains to be seen…

Point of view: not everyone needs to go digital
Fix the bank first, then examine the technology.

Innovation
New core platform for credit unions, lenders and start-up banks.

Infographics
FATCA and CRS compliance: how ready are you?

Real-time payments coming to the US
Winners, losers and those who don’t care.

Conference review: Temenos Community Forum
Temenos’ world domination plans and a payments ring (it comes in two colours and different sizes).

Banks and fintechs, unite!
Bank of the West’s vice-chairman on how the two sides can learn from each other.

Bank spotlight: RBS
Technology versus humans, missed deadlines and start-up mania.

Vendor spotlight: Monitise
New management, new focus, new product – will the vendor manage to turn its fortunes around?

And not to forget the Regulars of course:
Appointments – the movers and the shakers.
Comments – outspoken and opinionated.
Industry events – mark your calendars!
Out of office – curiosities, frustrations and mishaps of the fintech world.

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