Celent places SunTec in Leadership position

BANGALORE: SunTec Business Solutions, a leading provider of relationship-based pricing and centralized billing solutions, has been given leading placement in Celent’s latest report, which analyzes key vendors offering relationship based pricing software.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive strategies on business and technology.

In its recent report, titled “Comparing the Vendors of Relationship Pricing Systems”, Celent outlined current challenges that financial service companies face and the emergence of relationship based pricing as a competitive differentiator.

SunTec’s offerings were compared as being ahead of other vendors in this space. The report also noted SunTec’s pioneering role in the use of relationship based pricing in financial services.

SunTec’s TBMS-F solution empowers banks with a significant competitive advantage by providing a unified view of each customer across multiple banking and financial services that a customer might avail from the bank. 

The unified view enables banks to determine the total business that the customer conducts or could potentially conduct with the bank and to offer discounts, rebates and offsets as necessary to retain existing customers and attract new ones.

Aimed at retail banking, corporate banking and investment banking applications, SunTec’s solution seamlessly integrates into the existing banking IT infrastructure and automates the personalized offer process to provide every customer with services and pricing based on the customer’s total relationship with the bank.

“With rapid commoditization and increasing competition, banks are realizing the importance of strengthening their existing customer base and refocusing on these current relationships to maximize profitability,” says Neil Katkov, manager of Celent’s Asia Research group and the report’s author.

“With disparate IT systems coming together, as firms consolidate and continue to compete for customers, a dynamic pricing and billing system such as SunTec’s TBMS-F, is vital to customer loyalty enhancement and revenue optimization” Katkov added.

“Celent’s recognition of SunTec’s Solution has reinforced the significance of Relationship Based Pricing Concept as a key business driver for financial institutions. We are very happy to be recognized as the pioneers and leaders in this category which will revolutionize the future of the banking sector,” said Nanda Kumar, President and CEO – SunTec Business Solutions.

© CIOL Bureau