SAP’s Newly Independent Financial Services Entity Could Bring Lots Of Benefits To The Industry, But Will It?

Today, SAP announced a strategic shift: Its financial services entity will become a separate firm. German investment company Dediq and SAP will form a separate financial services firm, which will be jointly owned by the two companies. The new firm is meant to take up its operations in the second half of 2021 and “fully focus on accelerated innovation in core FSI areas, such as commercial lending, retail banking, core insurance, as well as insurance finance and bank management” — with a significant investment in new cloud solutions.