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

DGAP-News: adesso SE / Key word(s): Incoming Orders/Contract 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. adesso supports Bausparkasse Schwäbisch Hall to expand its core banking IT system in the credit sector

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.