Walldorf, Germany, November 7, 2024, FinanceWire
Supported by SAP pioneer , Coin Banka global currency distributor of U.S. banknotes, has begun operations. Numisma is the first bank to receive an Innovation Banking Charter from the State of Connecticut, a Federal Reserve Master Account and FedCash Services.
In order to achieve Numisma’s goal, they needed a proven and experienced partner at their side. At the heart of Numisma’s launch were SAP Fioneer’s solutions, including S/4HANA Finance, deposit management, payment centralization and transaction screening via AFC (Anti Financial Crime), all deployed in SAP Fioneer’s Cloud for Banking (C4B).
“Our partnership with Numisma is a testament to our unwavering commitment to customer centricity,” said Marcin Karwiec, Head of Cloud Platform Products at SAP Fioneer. “We are committed to ensuring Numisma’s success by leveraging our extensive market knowledge and continually supporting them to overcome the challenges of a young company. As Numisma embarks on this exciting journey, SAP Fioneer is proud to contribute to its mission to redefine banking innovation and improve the financial ecosystem.”
“SAP Fioneer’s robust, modular and integrated technology provides the flexibility to adapt to our unique needs and keep pace with our growth. Their extensive experience in working with several central banks of the world and supporting the distribution of their physical banknotes, their ability to build a new banking environment within a few months, together with the solid reputation of SAP business software is a combination that is rarely found, but exactly what we needed,” commented Vivek Tyagi, CEO of Numisma Bank.
About Numisma Bank (numismabank.com/)
Coin Bank is a preeminent global banknote distributor positioned for reliable, responsive and efficient delivery of banknotes to its high-value global customer base. Numisma Bank is an appropriately capitalized, United States (Connecticut) chartered and regulated bank with direct access to the Federal Reserve System, including primary account and cash services.
About SAP Fioneer (sapfioneer.com)
SAP pioneer was founded in 2021 as a joint venture between global technology leader SAP and entrepreneurial investor Dediq to become the world’s leading provider of software solutions and platforms for financial services. With a broad partner ecosystem, over 1,200 financial services customers and more than 1,300 employees, SAP Fioneer is a global company with a presence in 17 countries across Europe, North and Latin America, the Middle East, Africa and Asia Pacific .
By combining the speed and agility of a start-up with the proven capabilities of a world-class software company, SAP Fioneer enables banks, insurance companies and challengers to operate, transform and grow while meeting their needs for speed, scalability and cost efficiency through digital business innovation, Cloud technology and solutions that cover banking and insurance processes end-to-end.
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SAP pioneer
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