Commerzbank AG, Germany's second-largest bank, is using software from SAP AG to manage its private mortgage business.
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The Walldorf, Germany, vendor is expected to announce today that Commerzbank began using the SAP for Banking software in September and is currently using it to keep track of 600,000 loans.
Commerzbank is setting up a "loans factory" that will be able to process 1.2 million loans annually, and eventually it plans to integrate its consumer lending operations, according to SAP.
The banking company was able to convert to the software in only nine months because its Eurohypo was using the same software when it was acquired in 2006.
The software lets Commerzbank serve multiple business lines with a single system, according to SAP.
