SunTec is a leading provider of Relationship-based Pricing and Centralised Billing solutions for Banking, Financial Services & Insurance (BFSI), convergent transaction pricing and billing solutions for Communication, Media & Entertainment (CME), advanced meter-data management and billing solutions for Utilities, personalised pricing and centralised billing solutions for Logistics and Transport industries.
Our products, services and solutions provide a comprehensive platform to our customers for measuring and monitoring transaction value, enabling tighter control on profitability.
Banks that implement relationship pricing and product bundling will obtain a sustainable competitive advantage, increase their market share, grow deposits, build new relationships, and improve on existing ones. Competing banks will suffer a harsh blow and will be scratching their heads as to how to deal with being blind-sided by a game-changing strategy. Relationship pricing systems and the concept of relationship pricing must become mandatory and integral parts of day-to-day banking activities.
Commoditisation of services and competition are forcing the global banking services landscape to undergo a virtual makeover. Nowadays, banks and financial institutions compete with peers based on price differentiation – the thrust is on evolving long-term associations with their customers.
They are aware of the impact of customer retention on market dynamics, and they know that rewarding loyal customers with personalised service adds unparalleled value to their offerings. Personalisation of this level is possible only through the concept of Relationship-based Pricing.
Relationship-based Pricing (RBP) is a customer-centric framework that helps financial institutions to treat each customer uniquely, based on the overall relationship value, with innovative pricing strategies achieved by streamlining and automating the pricing and billing functions across enterprise.
SunTec pioneered the concept of Relationship-based Pricing, way back in 1999. Ever since our Relationship-based Pricing and Centralised Billing product, TBMS-F, built on the RBP philosophy, was first installed in 2002 by a major European bank, several innovative banks around the globe embraced the RBP concept through our product.