SAP AG today announced that it will work closely with Citi and The Royal Bank of Scotland (RBS) to co-innovate a cloud-based services platform. The highly interoperable, multi-bank platform aims to seamlessly integrate banks with their corporate customers.

A combination of SAP's deep expertise in enterprise resource planning (ERP), treasury management software and new cloud services technologies is driving the solution development. Together with the industry expertise and global networks of Citi and RBS, SAP aims to deliver a new, innovative solution to the corporate banking marketplace.

"SAP has prided itself in customer-centric innovation, in this case creative innovations in banking that can increase the velocity of information flow between banks and their corporate customers," said Sanjay Poonen, president, Global Solutions, SAP. "Integrating banks with corporate ERP and treasury systems has always been an expensive proposition for banks and corporations alike. Furthering SAP's commitment to the cloud, the banking industry and our many thousands of corporate customers, this solution will dramatically ease corporate banking. This will allow corporate customers to seamlessly extend their ERP and treasury systems and interface with multiple banks."