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SunTec’s award-winning platform, Xelerate, available on IBM Z and IBM LinuxONE

SunTec, a leading relationship-based pricing and billing company, has announced that their award-winning platform Xelerate is now available on IBM Z and IBM LinuxONE, the enterprise platform for mission-critical applications. This will allow large banks that host much of their applications and operational data on IBM Z to rapidly and non-intrusively enhance the capabilities of their legacy core systems, to deliver contextual and hyper-personalized customer experience and offerings.  

Amit Dua, president, global head – client facing group at SunTec, said: “We recognized the strength of the IBM Z platform given its unparalleled stability, performance, and robustness, hence our decision to port Xelerate onto IBM LinuxONE. Most banks have made significant investments and rely on these systems globally, and this offering will allow customers to deliver personalized banking experiences at scale and in real-time while making the most of their existing, robust infrastructure. Banks can further benefit from the agility, resiliency, elasticity, and on-demand provisioning that the hybrid cloud with IBM Z offers to advance their cloud strategies.”

Likhit Wagle, general manager, global banking industry at IBM, commented: “In the current low-interest-rate environment, Suntec’s Xelerate solution enables banks to generate additional income through sophisticated product bundling and pricing. In a competitive marketplace, the combination of the functionally rich Xelerate suite and the robust IBM Z offers unparalleled performance and security levels. Co-locating Xelerate platform running on Red Hat® OpenShift® side by side with core banking workloads on the same IBM Z or IBM LinuxONE server is going to be a game-changer for large banks on their digital transformation initiatives.”

With SunTec’s Xelerate, banks can adopt relationship-based pricing and banking models, rollout behavior-based loyalty programs, prevent revenue leakage through accurate pricing and billing, and, consequently, transform customer experience and innovation capabilities. However, data on customers’ banking relationships is essential to ensure the business success of such transformation projects. Since IBM Z platform hosts much of the operational data for many large banks, co-locating SunTec’s Xelerate on IBM Z running Linux comes with significant benefits to the banks including, infrastructure synergies, ease of integration, superior security levels, and reduction in total cost of ownership.

Banks are facing several disruptive forces – ever-evolving customer expectations, increasing competition, rising regulatory pressures, and growing cybersecurity breaches. It has, therefore, become imperative that they quickly move from a product-centric to an agile, customer-centric business model to overcome the challenges and thrive in the market. Given the same context, acquiring capabilities required to transform customer experience by dynamically designing and launching personalized products and bundles and innovative pricing models, and rewarding customers based on their positive financial behavior are becoming critical success factors. At the same time, banks need to ensure that their technology infrastructure facilitates superior performance, security, data privacy, and resiliency so that customer experience is addressed end-to-end and without comprising on regulatory compliance.