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10x Banking partners with SunTec to augment pricing for banks

Monday 2 September 2024 10:41 CET | News

Cloud-native SaaS core bank operating system 10x Banking had announced a strategic collaboration with SunTec to allow banks to provide personalised solutions to their customers.

In a bid to meet customer preferences and demands, 10x Banking and SunTec entered a global partnership that aims to offer flexible, customised banking capabilities to large and medium-sized financial institutions and support them in augmenting their user relationships. Through this alliance, 10x Banking is set to expand the abilities of its recently introduced meta-core banking platform and allow the firm to address personalisation in banking. The company plans to enable financial institutions to improve their relationships and customer satisfaction by contextually personalisation products and services based on users’ banking activity.

10x Banking partners with SunTec to augment pricing for banks

Moreover, the merged capabilities of 10x Banking’s real-time core banking platform and SunTec’s cloud-native relationship-based pricing, billing, and revenue management products intend to allow banks to administer the entire customer lifecycle, starting with onboarding, determining prices for services, and monthly billing, and ending with collection, dispute resolution, and annual price reviews. By implementing this, the two companies aim to allow corporate clients to benefit from price transparency, regulatory compliance, and increased revenues.

10x Banking and SunTec’s commitment

The integration between 10x Banking and SunTec also enables simplified communication between systems, utilising granular data to expect and provide customised financial products. The partnership focuses on allowing 10x Banking’s clients to receive a complete view of their customer needs and deliver product bundles that expand user acquisition, retention, and loyalty. Additionally, by leveraging the single pre-integrated stack, financial institutions are set to be able to centre their efforts on achieving business outcomes instead of facing the complexities of managing multiple systems.

Some of the key benefits of 10x Banking and SunTec’s partnership include:

  • Banks can track transactions in real-time for improved cash flow visibility and efficient management of working capital and liquidity;

  • Financial institutions can develop a customer view for tailored, contextual offerings based on journey insights to influence behaviour;

  • Banks can expand products and services via partner collaboration, optimised solutions, and new business models;

  • Corporate clients can deliver bankers and customers with real-time insights, trends, and pattern analysis;

  • Financial institutions can automate the order-to-bill lifecycle to mitigate revenue and limit risks.


Source: Link


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Keywords: partnership, digital banking, customer experience, financial services, financial institutions, banks
Categories: Banking & Fintech
Companies: 10x
Countries: World
This article is part of category

Banking & Fintech

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10x

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