SAP Industries Live: Banking's Digital Transformation With TD Bank's Jason Cawthorn and SAP's Falk Rieker

Banking's move to the cloud: The banking industry is shifting
from building and maintaining on-premise infrastructure to
adopting cloud services to improve efficiency and agility. The
shift is gradual due to the responsibility of safeguarding data
and complying with stringent regulatory requirements.

Global regulations: Navigating diverse global privacy laws
and regulatory requirements remains one of the industry's biggest
challenges. There are few common positions, although regional
agreements are a step in the right direction. There's an example
of a customer who had to talk to more than 50 different
regulators while implementing an SAP suite.

AI and machine learning: Artificial intelligence (AI) and
machine learning are being applied in banking processes to
improve efficiency, predict contract consumption, and provide
guided buying procedures.



 


The Big Quote: ". . .cloud is not like the old managed services
where you took your mess, and you made it someone else's problem
to execute. It really does require you to understand what you
have today [and] where you want to go. And you have to be
prepared for that. Because otherwise, it really could be a very
unpleasant deployment . . . we avoided a lot of that by being
prepared and taking our time and not rushing."


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