Temenos today announced the launch of its Enterprise Pricing solution that enables banks to design, manage, and price innovative products, services, and product bundles using their own and third-party products. The company said that the solution can be deployed on Temenos Transact or any third-party core and can support hyper-personalisation of products and services.
The solution will be pre-integrated with Temenos Infinity Origination to originate products and pricing structures digitally through multiple channels and will provide AI-generated pricing propositions.
Christine Barry, Research Director, Aite Group, said, “In the commoditized world of banking, loyalty to a brand will be harder to create without delivering genuine advantages to customers who display loyal behaviors. Temenos Enterprise Pricing enables banks to manage products and pricing effectively delivering to their customers transparent, relationship-based pricing, innovative services, and rewards schemes to delight them and create deeper relationships.”
According to Temenos, the Enterprise Pricing solution will help banks with –
- Greater control over the applicable fees
- Centralise product data from multiple legacy systems
- Better visibility of product and pricing portfolio
- Agility to launch products, services, and product bundles
Customers are expected to benefit from value-based pricing determined by the overall customer relationship with the bank across business line silos, aggregation of financial products on a single platform, insight into spending and saving habits; and access to products and services.
Max Chuard, Chief Executive Officer, Temenos said, “With Temenos Enterprise Pricing, we give larger banks with legacy IT landscapes, burdened by multiple cores and disparate, siloed systems, the opportunity to solve their operational efficiency needs and start their modernization program, gaining faster time to value. This solution enhances our ability to meet the needs of larger banks, which represent approximately 60% of the total third-party market spend. Our next-generation SaaS solution enables banks to create new revenue streams by launching new compelling offerings and to apply dynamic pricing strategies to maximize profitability, increasing customer retention and boosting wallet share.”