Numisma Bank starts operations backed by SAP Fioneer Cloud for Banking

Walldorf, Germany, November 7th, 2024, FinanceWire

Backed by SAP Fioneer technology, Numisma Bank, a global currency distributor of U.S. banknotes, has started their operations. Numisma is the first bank to receive a State of Connecticut Innovation Banking Charter, a Federal Reserve Master Account and FedCash Services.

To make Numisma’s objective possible, they needed a proven and experienced partner at their side. Core to Numisma’s launch were therefore the provision of solutions by SAP Fioneer including S/4HANA Finance, Deposit Management, Payment Centralization and transaction screening via AFC (Anti Financial Crime) all deployed within 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 dedicated to ensuring Numisma’s success, applying our extensive market knowledge and providing continuous support as they navigate the challenges of a young company. As Numisma embarks on this exciting journey, SAP Fioneer is proud to contribute to their mission of redefining banking innovation and enhancing the financial ecosystem.”

“SAP Fioneer’s robust, modular, and integrated technology has the flexibility to adapt to our unique requirements and scale as we grow. Their extensive experience in working with several of the world’s central banks and supporting the distribution of their physical banknotes, their ability to stand up a de novo banking environment in a few months along with the solid reputation of SAP business software is a combination that is seldom found, but exactly what we needed,” commented Vivek Tyagi, CEO at Numisma Bank.

About Numisma Bank (numismabank.com/)

Numisma Bank is a preeminent global distributor of banknotes positioned for reliable, responsive, and efficient delivery of banknotes to its high-quality global client base. Numisma Bank is an appropriately capitalized U.S. (Connecticut) chartered and regulated bank with direct access to the Federal Reserve System including master account and cash services.

About SAP Fioneer (sapfioneer.com)

SAP Fioneer was launched in 2021 as a joint venture between global technology leader SAP and entrepreneurial investor Dediq to become the world’s leading provider of financial services software solutions and platforms. With a broad ecosystem of partners, over 1,200 financial services customers and more than 1,300 employees, SAP Fioneer is a global business present in 17 countries across Europe, North and Latin America, Middle East, Africa and Asia-Pacific.

By combining the speed and agility of a start-up with the proven capabilities of a best-in-class software company, SAP Fioneer enables banks, insurance companies and challengers to run, transform and grow while meeting their need for speed, scalability, and cost-efficiency through digital business innovation, cloud technology, and solutions that cover banking and insurance processes end-to-end.