SAP focuses on Banking Sector

SAP, Europe's biggest software maker is focussing on Banking Sector as one of the cores areas for expansion, SAP head Henning Kagermann told Handelsblatt. "We see a lot of opportunity for growth -- mostly organic but we will make fill-in acquisitions if we need to buy in certain expertise," Kagermann told the Financial Times.

The market for SAP has the potential of "around 9 billion euros per annum" for SAP according to Kagermann. SAP currently has a market share of less than ten percent in the banking sector.

The modernization of some 4500 banking systems, the paper writes, will cost some 100 billion euros according to the extrapolations of experts. And the market experts at Forrester Research say that less than half of this has already been done.