SAP Dediq

History

2021: Creation of a company for financial software development

In mid-April 2021, SAP created a new company in partnership with Dediq, a German investment firm. SAP Dediq will develop financial software.

SAP Chief Financial Officer Luka Mucic noted that the expansion of the business will require an investment of about $600 million and will lead to the creation of a new joint venture under the SAP brand with an independent management team focused on the markets of commercial lending, retail and transactional banking.

We want to create a stronger portfolio of services that covers the specific needs of the financial industry, "said Munich," as well as create a comprehensive portfolio of financial solutions that are integrated with a strong foundation and available on our business technology platform.

SAP created a new company to develop the financial software of SAP Dediq, $600 million invested in it

According to Muchich, as part of the strategy of industry cloud development, the new portfolio of financial services will be based on cloud technologies and intended for financial organizations. All SAP employees who deal with financial services will be merged into one organization and all financial products into one cohesive unit.

With regard to investments, the priority areas are commercial lending, where SAP already has a strong base, as well as real estate financing. According to SAP, products for retail and transactional banking markets will depend on standardizing processes and ensuring the transition to cloud technologies.

The joint venture will require the approval of antitrust laws. For legal reasons, SAP does not disclose the names of the management team or the name of the joint venture, but notes that the combined company will act under the SAP brand. The new company and SAP intend to work closely together.^[1]

Notes