{"id":534025,"date":"2022-05-06T09:19:24","date_gmt":"2022-05-06T09:19:24","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&#038;p=534025"},"modified":"2022-05-06T09:19:24","modified_gmt":"2022-05-06T09:19:24","slug":"como-selects-sap-fioneers-cloud-for-banking-app","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/como-selects-sap-fioneers-cloud-for-banking-app\/","title":{"rendered":"COMO selects SAP Fioneer\u2019s Cloud for Banking app"},"content":{"rendered":"<p><a href=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/05\/SAP-Fioneer.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-534030 alignright\" src=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/05\/SAP-Fioneer-150x150.jpg\" alt=\"SAP Fioneer, COMO\" width=\"175\" height=\"175\" srcset=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/05\/SAP-Fioneer-150x150.jpg 150w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/05\/SAP-Fioneer-100x100.jpg 100w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/05\/SAP-Fioneer.jpg 200w\" sizes=\"auto, (max-width: 175px) 100vw, 175px\" \/><\/a>COMO, a global automated PayTech company has selected <a href=\"https:\/\/www.sapfioneer.com\/\">SAP Fioneer\u2019s<\/a> Cloud for Banking (C4B) application. This partnership will allow COMO\u2019s customers immediate access to rich core banking functionality while enabling real-time payment transactions and reducing costs by up to 60% for corporates.<\/p>\n<p>The C4B system and infrastructure enable the service offering of iBAN-X by COMO to become part of the next generation of financial solutions by giving customers real-time core banking practices on a single cloud platform and offering IBAN accounts in more than 25 currencies with 24\/7 straight-through processing. SAP Fioneer\u2019s integrated C4B runs on SAP\u2019s S4\/HANA and is an open platform, with a low total cost of ownership (TCO; purchase price plus operating costs of a particular asset) and quick time to market.<\/p>\n<p>Based in Luxembourg, COMO delivers with iBAN-X by COMO a digital cross-border multi-currency IBAN account service for platforms, marketplaces, corporates, payment service providers (PSPs) and FinTechs.<\/p>\n<p>\u201cAs we transition to a digital economy, we are focused on ensuring businesses digitize their supply and value chain while accelerating customer payments and settlement time.<\/p>\n<p>With SAP and SAP Fioneer, we have selected the most stable cloud banking platform on the market to support treasury departments to revolutionize their payment systems by reducing anti-money laundering (AML) and know your client (KYC) risk, increasing transparency and being able to offer multiple payment methods across the globe \u2013 all through a single platform. This partnership is another key milestone on our mission to enable our customers\u2019 digital journey and simplify the world of payments,\u201d said <strong>Angela Nickel, CEO of COMO Group and member of the board at iBAN-X by COMO.<\/strong><\/p>\n<p><strong>Dirk Kruse, CEO at SAP Fioneer,<\/strong> commented, \u201cWe are excited about partnering with COMO as a company whose purpose of supporting customers on their digital transformation journey and delivering innovative cloud solutions at an accelerated pace, closely aligns with ours. We\u2019re proud to have built a banking-as-a-service platform for COMO in as little as three months.\u201d<\/p>\n<p>The C4B platform is offered as a Software-as-a-Service (SaaS) hybrid cloud solution, powered by the latest SAP technology and providing the best-in-class digital environment to all users. The preconfigured build is based on best practices and designed to reduce IT complexity while enabling multi-channel access.<\/p>\n<p>\u201cWe are also particularly proud of our built-in environmental, social and governance solution on the C4B platform to address sustainability, CO2 emissions and digital currencies, enabling COMO to implement the collection of ESG-relevant data and provide a database for evaluation and reporting purposes,\u201d <strong>Kruse<\/strong> added.<\/p>\n","protected":false},"author":16,"featured_media":534030,"parent":0,"template":"","categories":[11381,11382,11368,11394,11384,11397],"tags":[26190,26187,26188,14130,20128,11419,19709,26189],"class_list":["post-534025","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-artificial-intelligence","category-cloud","category-core-banking","category-machine-learning","category-payments","category-saas","tag-cloud-for-banking","tag-como","tag-iban-x","tag-luxembourg","tag-paytech","tag-real-time-payments","tag-sap","tag-sap-fioneer"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.9 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>COMO selects SAP Fioneer\u2019s Cloud for Banking app<\/title>\n<meta name=\"description\" content=\"COMO, a global automated PayTech company has selected SAP Fioneer\u2019s Cloud for Banking (C4B) application. This partnership...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/como-selects-sap-fioneers-cloud-for-banking-app\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COMO selects SAP Fioneer\u2019s Cloud for Banking app\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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