Sopra Banking Software announced that Siemens Financial Services has selected its Cassiopae Financing Software.

Cassiopae software, which supports a wide range of financial products and asset classes, is expected to replace a variety of legacy solutions across Siemens Financial Services’ Commercial Finance (SFS COF) global footprint. SFS COF is an international organization with offices in US, France, Spain, Germany, UK, Nordics, Poland, Russia, Turkey, China, and India. The first implementation is planned for the United States.

The goal of the initiative is to consolidate certain disparate systems and streamline the management of Siemens Financial Services Commercial Finance financing contracts around common processes worldwide within the business’s Contract Management Systems.
The contract agreement is for the software as well as the hosting and managing of the application for multiple SFS technical hubs.

“We undertook a detailed international search process and at this stage in the project the Cassiopae software has demonstrated the required flexibility and ability to combine core, global features with specific country localization capabilities,” said Axel Schulte, Head of Global Services IT at Siemens Financial Services.

“Our business has a strategy of continued investment in developing and delivering a global application that can meet the varied requirements of financial services companies, today and in the future,” said Eric Soyer, COO Cassiopae. “We are well-positioned to be a long-term partner for Siemens Financial Services and look forward to working with the company to help it achieve its goals for the project.”