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Dortmund, 01.03.2021

adesso supports Bausparkasse Schwäbisch Hall to expand its core banking IT system in the credit sector

01.03.2021 / 07:33
The issuer is solely responsible for the content of this announcement.

Bausparkasse Schwäbisch Hall has engaged the IT service provider adesso for a sub-project in the context of ongoing work to update its IT systems. The project will see adesso support the building society to develop an SAP-based application for its core banking business as a first-time lender. A first release of the system developed by adesso has already gone live, with the second release programmed to go live in autumn 2021. The Hamelin-based firm Quanto AG, which strengthened the adesso Group's portfolio by joining it in December, is also subcontracting on the project. Their cooperation on this flagship project for the German finance sector underscores the potential of the merger to enhance the adesso Group's further development of SAP activities.

Bausparkasse Schwäbisch Hall has opted to transform its core banking system, supporting processes related to its core lending business with the established SAP for Banking platform. The IT project aims to develop a future-proof, SAP-based core banking system as the standard system to replace the building society's existing host-based infrastructure. A standardised software system configuring processes across the whole life cycle of building society contracts and loans will enable Bausparkasse Schwäbisch Hall to improve efficiency in the future. Bausparkasse Schwäbisch Hall's core banking project is currently one of the largest core banking projects in Germany's financial services sector to use SAP for banking.

The sub-project entrusted to adesso will develop, tailor and implement the new SAP-based credit system. adesso is responsible for all phases of system development, from the technical concept, design and software development and testing through to troubleshooting and warranty provisions. Particular attention is being paid to the module for the 'Prolongation' process, which handles the extension of credit contracts.

As an experienced service provider to banks and insurance companies, adesso has extensive sector expertise in matters of core product development, as well as project management and implementation of bespoke SAP solutions. With around 300 SAP experts, the adesso Group is one of the largest German SAP advisors in the core financial services and utilities sectors. This number is set to grow to around 500 in the near future in line with promising market opportunities, above all in the dynamic and growing SAP S/4HANA market, but also thanks to adesso's role as a leading player in the core SAP sector.

 

adesso Group

With about 4,500 employees and annual sales of EUR 449.7 million in 2019, adesso Group is one of the largest German IT service providers with outstanding growth opportunities. At its own locations in Germany, other locations in Europe, Turkey and the USA as well as at numerous local customers adesso offers consulting and software development services for optimising core business processes. adesso also offers ready-to-use software products for standard applications. The development of an own, industry-specific product portfolio opens up additional growth and earnings opportunities and is another key element of the adesso strategy. In 2020, adesso was awarded the title of the best employer of its size in Germany across all industries. After having already achieved first place among IT employers in 2016 and 2018, adesso was ranked first again in 2020.

Contact:
Martin Möllmann
Manager Investor Relations
Tel.: +49 231 7000-7000
E-Mail: ir@adesso.de

01.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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