ShareBanking, Financial Services and Insurance (BFSI)
Customer-centricity is the buzzword in the banking and financial services industry. The latest competitive trends in the industry have been engaging financial institutions across the world in a neck-and-neck race towards achieving maximum customer acquisition and customer retention through innovative customer-centric steps:
- Stiff competition among the existing players and new entrants in the market drive the banks to increase their market share by introducing integrated product offerings, enhancing customer loyalty and selling more to the existing customer base.
- Product commoditization and fluctuating interest revenues force the banks to seek new revenue streams by introducing more fee-based products and to achieve market leadership through pricing.
Propelled by these factors, banking in the modern era is oriented primarily towards building and retaining strong bonds with customers. However, the momentum of the banking service providers towards customer-centricity is often hindered by product silos and primitive product-centric pricing methods.
SunTec's solutions enable banks and financial institutions to achieve true customer-centricity by building strong relationships with their customers. They are designed on the Relationship-based Pricing framework, which enables:
- Holistic view of customer across products, geographies and business lines
- Integrated product offerings through product bundling
- Best value plans and 'what-if' scenarios through price modeling
- Dynamic pricing based on various product, customer and transaction parameters
- Single global statement
- Revenue leakage control
Our solutions pertain to these functions of modern-day banking in particular, and even more: