SharePress Releases
SunTec CEO talks about the issues faced by Cash Management and Payments Businesses at the InterBank Conference, Asian Banker Summit.
Bangkok, Thailand - SunTec CEO, Mr. K Nanda Kumar, presented at the InterBank Conference on Cash, Trade and Treasury as part of the Asian Banker Summit held in Bangkok during March 15-17, 2006. He was part of a panel comprising of heads of global Cash Management practices who discussed a variety of topics concerning the industry, including the key trends, emerging complexities and the risks and costs of technology driving the business.
Mr. Nanda Kumar talked about the complexity of the products and services offered by a global cash
management division with varying currencies, types of products and service attributes. A bank is unable to take advantage of this complexity and provide personalized pricing to its customers due to their inability to have a customer centric view of its products and services. Mr. Nanda Kumar talked about the need for an innovator in the industry to be able to have a centralized pricing and billing architecture which will enable the bank to provide a highly transparent, personalized and unified bill to each of its customers. He indicated that the pricing and billing infrastructure needs to be agile and flexible with a low time-to-market for new products and the ability to do adaptive-predictive pricing to be able to dynamically price each transaction.
He further talked about how the cash management group can attain their strategic objectives of competitive differentiation through innovation and increased revenues while still watching the bottom-line by using the pricing and billing system as a strategic tool.