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Customer Relationship Simplified for CIOs
By Anuradha Ramamirtham
Mumbai, Jun 04, 2007 1756 hrs IST
SunTec, a relationship-based pricing and centralized billing solutions company has joined forces with Infosys Technologies to offer TBMS-F product suite, integrated with Finacle, to the global financial services industry.
Speaking to CXOtoday.com, Merwin Fernandes, vice president and business head of Finacle said, "Enterprise level relationship pricing is an upcoming niche space and SunTec has experience in this space. The solution compliments the Finacle Universal Banking solution, thus providing added value to our mutual clients."
Relationship pricing is pricing based on overall relationship, i.e. relationship of a financial institution customer across all financial products. Fernandes stated, "The aim is to enable banks to provide optimal pricing to its customers, based on their relationship value."
Banks worldwide are seeking ways to generate optimum value from their customer relationships, and increase the stickiness of the relationships.
When asked about how the addition of Finacle in the TBMS-F product makes a difference to the financial industry, Fernandes said, "Effective and optimized relationship-based customer pricing and billing is a key component of this strategy. SunTec solution provides this capability in the billing - pricing space."
"Combined solution offering will enable our mutual clients to better manage their customer relationships, provide an enriched customer experience and derive optimum value from these relationships," added Fernandes.
According to Nanda Kumar, president and CEO of SunTec, "Challenges in banking such as time to market, gaining a single view of the customer s relationship with the bank, creating pricing strategies to retain the customers who add the most value, and eliminating revenue leakage are some of the aspects that can be addressed with this combined offering."
In addition to the alliance, both companies plan to provide other supporting services. "We will offer all the services surrounding the solution that enable banks to realize the benefits of this product offering. This includes requirement scoping and gap analysis, data migration, system testing, and user training. Also, the necessary post implementation support services will be provided," added Kumar.
Infosys aims to get headway with this offering at all those banks that use Finacle. Fernandes added, "We would also target tier 1, tier 2, and large regional banks in the retail and universal banking space globally."
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