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AlixPartners and Zafin Form Alliance Around Zafin’s miRevenue Software Suite

AlixPartners develops innovative ‘Advanced Revenue Management’ offering powered by Zafin’s miRevenue product 

Zafin, an award-winning provider of relationship banking software solutions to the financial services industry, and AlixPartners, the global business advisory firm, announced today that they have formed an alliance to bring together AlixPartners’ solutions in financial services related to customer pricing, profitability, technology and business intelligence with miRevenue, Zafin’s Product and Pricing Lifecycle Management (PPLM) software solution.

In collaboration with Zafin, AlixPartners is also introducing its “Advanced Revenue Management” (ARM) offering to the financial services industry to assist banks, asset managers and wealth managers with the development and implementation of compelling customer-centric pricing, product bundling and billing solutions that seek to maximize customer profitability. AlixPartners’ ARM offering will be powered by Zafin’s miRevenue product.

“We are thrilled with this new alliance between Zafin and AlixPartners to support the further expansion of our Product and Pricing Lifecycle Management solution into leading financial services providers,” said Al Karim Somji, CEO of Zafin. “We look forward to working with AlixPartners to enable clients to overcome the limitations of legacy systems to deliver the right products to the right customers at the right price.”

Many financial institutions have long struggled with the ability to develop and operationalize highly granular customer segmentation programs and customized product and pricing bundles – even as consumers appear to have come to expect and demand this level of customization. Such data is typically difficult to access – inhibiting speed of analysis, while inflexible legacy core banking systems often limit the ability of banks to operationalize customer segmentation programs of any significant granularity, due to high costs and long development cycles.

With the ARM/miRevenue solution, financial institutions can now more easily pursue the delivery of innovative segment-based offerings to the marketplace, while avoiding the costly and time-consuming task of making major changes to core systems.

Key benefits of the ARM/miRevenue solution include:

  • Supports the acceleration of innovation and improving speed to market
  • Facilitates customer and account pricing and profitability optimization
  • Assists with the improvement of profitability by providing analytics and insights into revenue leakage
  • Enables the development and delivery of segment-oriented bundled offerings and pricing

“To address margin compression, the financial services industry needs to innovate using technology solutions that provide the ability to experiment with alternative pricing models that more closely align value with services in the eyes of an individual customer,” said Teresa Epperson, managing director at AlixPartners.

“Our Advanced Revenue Management offering leverages AlixPartners’ proprietary analytics to support the development and delivery of customer-centric offerings – from customer segmentation, target value proposition development and pricing optimization to target customer experience design, target architecture design and solutions configuration and implementation,” said Seth Rosensweig, managing director at AlixPartners. “With Zafin’s miRevenue solution, we have the ability to more easily operationalize segment-oriented bundled offerings without disruptive and costly impact to core systems.”

Continued Rosensweig, “Giving financial services providers the ability to innovate – freed from many of the constraints related to the core systems without having to replace them – is essential to staying competitive in today’s rapidly evolving marketplace.”

Zafin’s miRevenue offers a holistic product management control panel that allows centralized product management, price quotes, pricing simulation, offer management and loyalty management. miRevenue integrates with existing technology, and as such allows for fast and easy implementation. In addition, miRevenue can provide front office team members with flexibility to customize solutions while adhering to an organization’s overall customer and product pricing strategy.