Celent Cites SunTec as Pioneering the Use of Relationship Based Pricing To Help Financial Firms Solve IT Challenges, Maximize Profitability and Better Serve Customers
SunTec Business Solutions, the leading provider of relationship-based pricing and centralized billing solutions today announced leading placement in Celent’s latest report, which analyzes key vendors offering relationship based pricing software.
In its recent report, titled “Comparing the Vendors of Relationship Pricing Systems,” Celent outlined current challenges financial service companies face and the emergence of relationship based pricing as a competitive differentiator. SunTec’s offerings were compared as being ahead of other vendors in this space. The report also noted SunTec’s pioneering role in the use of relationship based pricing in financial services.
“With rapid commoditization and increasing competition, banks are realizing the importance of strengthening their existing customer base and refocusing on these current relationships to maximize profitability,” says Neil Katkov, manager of Celent’s Asia Research group and the report’s author. “With disparate IT systems coming together, as firms consolidate and continue to compete for customers, a dynamic pricing and billing system such as SunTec’s TBMS-F, is vital to customer loyalty enhancement and revenue optimization” Katkov added.
SunTec’s TBMS-F solution empowers banks with a significant competitive advantage by providing a unified view of each customer across the multiple banking and financial services that a customer may have with the bank. The unified view enables banks to determine the total business that the customer conducts or could potentially conduct with the bank and to offer discounts, rebates and offsets as necessary to retain existing customers and attract new ones. Aimed at retail banking, corporate banking and investment banking applications, SunTec’s solution easily retrofits into existing banking IT infrastructure and automates the personalized offer process to provide every customer with services and pricing based on their total relationship with the bank.
“Celent’s report has reinforced the significance of Relationship Based Pricing as a key business driver that is revolutionizing the banking sector. We, at SunTec, are very excited to be recognized as the pioneers and leaders in Relationship Based Pricing solutions,” said Nanda Kumar, President and CEO – SunTec Business Solutions.