Yes Bank Selects SunTec For Revenue Management Needs

by CXOtoday News Desk    Oct 07, 2014

yesbank

Complex revenue management is a challenge for most product managers and relationship managers in banks. Yes Bank, India’s fourth largest private sector bank, has deployed a new revenue management solution to counter this challenge. The bank has selected SunTec Xelerate product suite for management to help launch new product packages and manage revenue streams more effectively.

Yes Bank operates in a unique market, and believes that the customer experience differentiation it can obtain with the help of SunTec will be key to successfully achieving strategic objectives. In addition, the bank will use the new solution suite to streamline its pricing and billing process.

Yes Bank selected SunTec’s technology after conducting a thorough evaluation process. “We see real value in SunTec’s vision in providing futuristic solutions. Partnering with SunTec gives us the ability to quickly develop new products and improve our existing offerings. We are looking forward to working with SunTec to put our customer-centric business strategies into action,” said Pralay Mondal, Senior Group President – Branch and Retail Banking, Yes Bank.

“We are very pleased to be working with one of the most impressive players in the Indian financial services industry. The Indian retail banking sector is full of exciting opportunities, and we look forward to helping Yes bank take advantage of them,” said Nanda Kumar, CEO – SunTec.

He believes that most retail banks change their pricing practices either under regulatory pressure or as a reaction to competition. However, innovative revenue management models can be used to boost profitability at the same time without sacrificing on customer experience. Innovative pricing is all about pricing your products and services based on the value customers derive from it. To effectively innovate in the field of revenue management, retail banks need to develop truly segmented value propositions.

SunTec customers include Visa Europe, HSBC, ING, Mashreq, Standard Bank and American Express.