Valley National Bank goes digitally deep with SAP and Axxiome
Oklahoma-based Valley National Bank (VNB) has selected SAP and Axxiome for its digital overhaul.
The bank will use SAP for Banking solutions and SAP S/4HANA for its real-time operations.
Axxiome, an SAP partner specialising in core banking, will implement the SAP solutions as the bank begins to digitalise core tasks such as deposits, loans and customer account management.
The SAP HANA software will help with real-time analytics and there will be a revamp of the bank’s channels using Axxiome Digital hosted by DXC.
VNB’s president and CEO Brad Scrivner says SAP and Axxiome’s “collective expertise will allow us to dramatically improve the way we currently engage with customers, automate everyday job functions and create new processes to position ourselves as a leader in the US financial market”.
The bank also plans to concurrently move all its systems into a single-tenant managed cloud.
Since February 1982, VNB says it has been a locally owned and operated full-service financial institution. It’s based in Tulsa.
This is the second core banking tech client for SAP in the US, following a project with BB&T – which was unsuccessful and was canned.
FinTech Futures wrote exclusively about the start and the end of the BB&T project.