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Saudi regulator upgrading IT systems

Saudi Arabia’s central bank Saudi Arabian Monetary Agency (SAMA) is modernizing its technology by incorporating several new solutions from SAP and Calypso. The bank is implementing SAP solution to automate the ERP and BI functionality. It is also likely to introduce Bank Analyser for financial reporting. SAP is also in negotiations with the bank for its core banking software, especially deposits and loans management system. Meanwhile, Calypso has received the contract for SAMA’s treasury and capital markets (TCM) management software. The deal was done on the back of the SAP and Calypso partnership under which SAP resells Calypso’s TCM platform as two solution extensions: the SAP Capital Markets Trading solution by Calypso and the SAP Capital Markets Treasury solution by Calypso.

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