Tagetik sets new standards in the Austrian banking sector

BAWAG P.S.K. switches to Tagetik / New performance management solution supports executive team

Unterschleißheim/Vienna, 17 September 2015 – Another leading Austrian credit institute has switched to Tagetik software. In cooperation with the consultancy pmOne, BAWAG P.S.K. has built a central hub for KPI management and reporting. The new reporting standards and transparency support the bank executives in managing business performance.

The new solution, which also uses cMORE from pmOne, was designed as a self-service Business Intelligence tool. Management accountants at BAWAG P.S.K. can now build and administer reports that fulfill their complete design requirements completely on their own. “pmOne understood our needs for self-service BI the best and helped us implement them quickly,” explained Andreas H. Haider, Project Leader Tagetik at BAWAG P.S.K.

Five of the ten biggest banks in Austria now use Corporate Performance Management software from Tagetik. Aside from BAWAG P.S.K., Erste Group, Raiffeisen Bank International, VB Wien Baden (formerly ÖVAG) and Bank Austria of the Unicredit Group all use Tagetik as well. “Companies in the financial services industry face very strict regulations and appreciate the rich functionality that Tagetik offers,” Oliver Vermeer, Managing Director of pmOne GmbH. “This software unifies and harmonizes complex business processes and incorporates specific industry requirements – all within a single application.”

 

About BAWAG P.S.K.

BAWAG P.S.K. is one of Austria’s largest and most profitable banks with more than 1.6 million retail, small business and corporate customers. The bank, which operates under a well-recognized national brand, has three main segments: Retail Banking and Small Business, Corporate Lending and Investments, and Treasury Services and Markets. Across these segments, it delivers simple, transparent and best-in-class products and services that meet customers’ needs.  The bank also follows a low-risk and efficient business strategy with over 70% of customer loans and receivables within Austria. The remaining customer loans are predominantly in Western developed economies such as Germany, the UK, France and the United States. BAWAG P.S.K. is 52% owned by Cerberus Capital Management LP and 40% by GoldenTree Asset Management LP. For more information, please visit www.bawagpsk.com/BAWAGPSK/IR/EN.

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