Comparing the Vendors of Relationship Pricing Systems
AbstractBoston, MA, USA October 23, 2006
Relationship pricing systems are helping a handful of banks to price products and services預 boon to customers' and banks' bottom lines.
Relationship pricing is emerging as a central strategy in banking. Retail banks' increased emphasis on fee-based business, targeted marketing, customer segmentation and profitability analysis is resulting in complex fee schemes. Banks are looking for a way to efficiently implement these pricing schemes. The report, , explores how this technology is helping financial institutions execute fee strategies.
Relationship pricing systems help financial institutions deliver better customer service and billing statements that are easy to understand. This report compares four transaction pricing systems that simplify and automate the complex and burdensome task of fee setting for the many bank and financial products and services. It examines variable fee schedules for product bundles, loyalty programs, and negotiated discounts. The report focuses on transaction pricing systems that enables a full, hierarchically-based relationship pricing strategy.
"In the 21st century, banks are focusing on strengthening relationships and maximizing the profitability of each customer," says Neil Katkov, author of the report. "Full-function fee pricing engines are emerging as a powerful tool to support relationship pricing and cement customer relationships, both on the retail and corporate side."
Vendors profiled in the report are Amdocs, Interactive Technologies (a division of Fiserv), SunTec Business Solutions, and Zafin Labs.
The 28-page report contains three figures and 12 tables. A table of contents is available here.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
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Table of ContentsBoston, MA, USA October 23, 2006
|Criteria For Inclusion||9|
|Suntec Business Solutions||14|
|Features and Functionality||19|
|Service and Support||23|
|Objectivity & Methodology||27|