EY to ally with SAP Fioneer for broad financial transformations

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EY has announced an alliance between SAP Fioneer and EY ifb SE, its international finance and risk transformation and compliance consultancy, to help facilitate software selection, business transformation, training and change management in the financial services industry.

The alliance focuses on banking and insurance solutions for CFOs in areas such as financial products subledger, financial control, insurance collections and disbursements and sustainability solutions.

In addition, with the continued impact of the modernization of finance functions on customers and clients, the EY–SAP Fioneer alliance will help develop flexible commercial business models and industry-specific cloud solutions like EY’s global insurance industry cloud initiative.

The partnership emerged in light of new tech-enabled market entrants to the financial services industry and the growing need to roll out large-scale financial transformations in the next decade.

SAP Fioneer is a software solution provider for financial services that enables banks, insurance companies and challengers to run, transform and grow while meeting their need for speed, scalability and cost-efficiency through digital business innovation, cloud technology and solutions that cover banking and insurance processes end-to-end.

“Through the EY–SAP Fioneer alliance, EY teams are positioned to continue to help strengthen the financial landscape through market finance transformations and industry cloud solutions,” said Daniel Ruschmeier, EY–SAP Fioneer alliance leader at EY ifb SE.

“Furthermore, the established working relationships between SAP Fioneer’s global team and EY teams serve as a catalyst in the alliance’s focus on joint solutions, implementations and engagements,” he added.

Christian Jaeger, head of partner solutions business and global partner management at SAP Fioneer, also commented on the development: “Collaborations are a key component of SAP Fioneer’s DNA and the EY-SAP Fioneer Alliance builds on years of successful work together on joint customer projects.

“We are committed to working closely with EY teams to bring about sustainable and impactful change in the financial services industry.”

EY has also recently announced the launch of EY OpsChain Contract Manager (OCM), a transformative blockchain-enabled solution for contract management, to help enterprises with automatic adherence to agreed terms.