The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Home Trust Company Successfully Goes Live With Banking Solutions from SAP

Monday, July 18, 2011

Home Trust Company Successfully Goes Live With Banking Solutions from SAP11:39 EDT Monday, July 18, 2011With its Business Process Platform Based on SAP® Software and Technology, Home Trust Gains Ability to Streamline, Simplify and Extend Banking Processes to Improve OutcomesTORONTO, July 18, 2011 /CNW/ - Home Trust Company, one of Canada's leading Trust companies and ninth largest deposit-taking financial institution, and a wholly owned subsidiary of Home Capital Group Inc. (TSX: HCG), today announced it has successfully gone live with solutions from the SAP® For Banking solution portfolio. With these offerings from SAP AG (NYSE: SAP), Home Trust has joined a growing list of financial institutions worldwide by investing in a platform to power its growth. With the implementation of SAP for Banking solutions, Home Trust has improved its ability to introduce new products, enhance reporting of business operations, achieve substantial new efficiencies and drive future growth and profitability.SAP for Banking solutions include banking, business and analytical applications that help financial institutions optimize their business processes and enable operational and financial excellence, as well as superior customer service. SAP for Banking solutions helps financial institutions by improving the efficiency of front-office and back-office activities through automation and standardization. Home Trust is the first financial institution in Canada to implement the complete SAP for Banking solutions system."We wanted a platform that would accelerate our future plans for growth. The financial services sector, like many other industries, continues to leverage technology to enhance the customer experience. Home Trust is a growing company, and we needed a solution that would give us flexible processes, greater visibility into our business, and continue our 20-year history of increasing assets and profitability," said Gerald M. Soloway, Chief Executive Officer, Home Trust. "We also wanted to continue offering our customers a diverse set of products and with SAP we are growing our business to fit our customer needs today and into the future.""With the banking solutions from SAP, we are excited to have a robust platform that will standardize our business systems and provide a technical road map that matches our customer growth," said Martin Reid, President, Home Trust. "We now have a central point of integration for all best-in-class and custom solutions that match our unique business needs.""Home Trust understands that increased productivity equates to increased profitability. This is especially true of the financial services sector where increased profitability through better business insight can mean the difference between good performance and great performance, and Home Trust is a great performer in their sector," said Mark Aboud, Managing Director, SAP Canada. "With SAP for Banking solutions, Home Trust's systems will be more scalable and able to deliver actionable information to decision makers through flexible, comprehensive reporting tools."About Home Trust Home Trust Company is the principal subsidiary of Home Capital Group Inc., a public company, traded on the Toronto Stock Exchange (HCG). Home Trust is a federally regulated trust company offering deposit, residential, and non-residential mortgage lending, securitization of insured residential first mortgage products, consumer lending, Visa and payment card services. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia and Quebec.For additional information:Gerald M. Soloway, CEO, or Martin Reid, President416-360-4663About SAPAs market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device - SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 170,000 customers (includes customers from the acquisition of Sybase) to operate profitably, adapt continuously, and grow sustainably. For more information, visit customers interested in learning more about SAP products: Global Customer Centre: +49 180 534-34-24For more information, visit more information, press and analysts only:Jason Grosse, Manager, Media and Analyst Relations, SAP Canada416 218-6538 (EDT), Jason.Grosse@SAP.comCaution Regarding Forward-looking StatementsThis news release contains certain forward-looking statements as defined under applicable Canadian securities laws. Forward-looking statements are typically identified by words such as "will," "believe," "expect," "anticipate," "estimate," "plan," "may," and "could" or other similar expressions. By their very nature, these statements require us to make assumptions and are subject to inherent risks and uncertainties, general and specific, which may cause actual results to differ materially from the expectations expressed in the forward-looking statements. Forward-looking statements are made in connection with business objectives and targets, Company strategies, operations, anticipated financial results and the outlook for the Company, its industry, and the Canadian economy. These statements regarding expected future performance are "financial outlooks" within the meaning of National Instrument 51-102. Please see the risk factors, which are set forth in detail on pages 37 through 48 in the Company's 2010 Annual Report, as well as its other publicly filed information, which may be located at, for the material factors that could cause the Company's actual results to differ materially from these statements. These risk factors are material risk factors a reader should consider, and include credit risk, liquidity and funding risk, structural interest rate risk, operational risk, investment portfolio risk, strategic business risk, reputational risk, and regulatory and legal risk along with additional risk factors that may affect future results. Forward-looking statements are in the Report to the Shareholders and the Outlook Sections in this Annual Report. These risks and uncertainties include, but are not limited to, global capital market activity, changes in government monetary and economic policies, changes in interest rates, inflation levels and general economic conditions, legislative and regulatory developments, competition and technological change. The preceding list is not exhaustive of possible factors. These and other factors should be considered carefully and readers are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake to update any forward-looking statements, whether written or verbal, that may be made from time to time by it or on its behalf, except as required by securities laws.For further information: Gerald M. Soloway, CEO, or Martin Reid, President 416-360-4663