Xinja opts for SAP Cloud for Banking

The SAP Cloud for Banking product will provide functions such as faster customer onboarding, as well as real-time risk and financial assessment. It will also equip Xinja for the impending introduction of open banking in Australia, which will see the larger financial institutions make customer data available to other companies.

Xinja officials have stated that SAP’s banking solution, which com­prises SAP S/4HANA Finance; SAP Transactional Banking (Loans and Deposits and Payments Engine) on SAP HANA Enterprise Cloud (HEC); SAP Cloud Platform (SCP); and SAP Application Management Services (AMS), fits the bill the company.

The announcement comes as Xinja gears up to secure its restricted banking licence from the Australian Prudential Regulation Authority later in 2018.