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Efma Announces SME AppsBank Portal Dedicated to Banks’ SME Business

Which banks provide the best financial services through business apps? Innovative business app store supports banks in developing brand-new apps to improve their financial services to professionals and small businesses, and compete with each other for the best applications worldwide.

Efma, an association of 3,300 retail financial services companies in more than 130 countries, and SAP have joined forces to launch SME AppsBank portal (www.efma.com/SMEappsbank), an innovative online portal dedicated to banks’ business focused on small and midsize enterprises (SMEs).

The SME AppsBank portal was launched to an audience of executive bankers at the Efma SME Summit on 17 March 2016 in Berlin, Germany. The initiative comprises a best-in-class app store, a development environment and an awards program that recognizes the world’s best banking apps for SMEs. To be considered for an SME Banking Award, banks must share existing apps, or develop new ones, by 31 December 2016.

"We’re delighted to be collaborating with SAP to launch the SME AppsBank portal, which will support banks in their digital activities to improve performance and optimize the quality of services they deliver to their professional clients," said Vincent Bastid, CEO of Efma. "Financial institutions will be able to benchmark themselves against their peers for financial services such as cash flow management, business finance management and payments. This disruptive initiative will not only help banks to develop online and access first-class banking apps for SMEs, but it will also enable global recognition through the awards ceremony."

"The SME market is a particularly important one for banks, both in business opportunity and economic sustainability. By rewarding the best in SME banking, we can help support a critical service that plays a major role in job creation, economic growth and social stability for those in developing and emerging markets," said Laurence Leyden, EMEA head of Financial Services Industries, SAP. "SAP is very pleased to collaborate with Efma and provide banks with modern business apps for SMEs powered by SAP HANA Cloud Platform."

This initiative is based on three pillars including:

1. A vast library of SME apps created by banks

From 17 March until 31 December 2016, banks can post their apps using the online form on www.efma.com/SMEappsbankSubmit. Financial institutions will have free access to worldwide apps in areas such as microfinance, investment, BFM, cash management, payments and more.

2. A development environment to help bank IT teams build the next killer app for professionals

The SME AppsBank portal provides an entire development environment (SAP HANA® Cloud Platform) to enable financial institutions to complete the development of their apps, or build new ones from scratch, using cutting-edge tools and SAP® technologies. Banks have nine months to develop the best SME banking app to boost their chance of winning the special SAP prize for banks developing on SAP HANA Cloud Platform.

3. An awards ceremony that will reward the world’s best SME apps

Each bank that posts an existing app will have a chance of winning a number of prestigious awards. In addition, two special prizes - the world’s best app by Efma and the SAP prize for banks that develop an app on SAP HANA Cloud Platform - will be awarded to the apps that have the best features, design, customer experience and level of disruption. The best-in-class business apps will be chosen by a panel of recognized experts from banks, professional press and SMEs in January 2017. Winners will be announced at the awards ceremony in March 2017 at the Efma SME Summit.

Next Finance , March 2016

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