Business Leader & Practitioner
The dynamics of interactions with your customers is changing constantly. In this scenario, the business imperative is to create sustainable differentiators to attract and retain your customers.
Some of the business drivers include:
- Dropping share of customer wallet as less than 10% of the customers have a single brand financial services relationship
- Commoditization of Products
- Time to market for new innovations affected by existing legacy infrastructure
- Product centric infrastructure with multiple disjointed systems with in built pricing – not geared for customer/relationship level pricing
- Manual processes resulting in revenue leakages
Relationship based pricing and billing has emerged as a powerful enabler towards addressing these challenges in an effective manner. CRM systems and business intelligence tools have provided a better understanding of the customer and their behavior, however, relationship based dynamic pricing capabilities enable completing the loop on the customer relationship by providing individualized pricing to meet customers’ unique needs.
Achieving & Sustaining Revenue Streams
You understand your customer’s are becoming more and more sophisticated. In order to attract, retain and grow customer’s you need innovative ideas that are actually implementable.
miRevenue Solutions Suite allows your bank to create innovative strategies to improve acquisition and cross-selling, while reducing customer attrition by providing you with new capabilities to meet your customer’s product, pricing, billing and loyalty related needs.
miRevenue Solutions Suite allows your Product and Segment Managers to manufacture products in a way that is un-precedent in banking. These new capabilities create a direct link with your sales environment to deliver controlled individualized relationship based product pricing and bundles that follows through directly to the customer’s specific billing needs.
In addition, miRevenue Solutions Suite allows your bank to deliver new loyalty program initiatives rarely seen in the banking industry because of system limitations. However, your customers have become accustomed to and expect these types of initiatives to attract and retain their business.
The Key benefits of the solution to the institution include:
- Net new revenues by attracting and retaining customers by providing personalized products and packages that meet their unique needs – no longer ‘one size fits all’
- Create Sustainable Differentiators in the market and provide Customers with a targeted Value Proposition of Innovative Product Offerings
- Simulate different scenarios both during product manufacturing and during client interaction to ensure creation of targeted value propositions
- Cost Savings and Rationalization of applications by consolidating billing to a Centralized Platform from multiple systems – extend across the enterprise
- Monitor and Mitigate Revenue Leakages and have Proactive view of the business through Insightful Reports
Realizing & Delivering Costs Savings
You are charged with making your business more efficient, but need to do so in a way that can deliver immediate and also ongoing cost savings. miBanking Operational Support Solutions (OSS) can help.
Our Solutions have been designed to address two of the most critical operational areas in banking today; physical cash management and security. Our Solutions provide capabilities to optimize and reduce idle cash in your ATM and Branch Networks, while also delivering leading security capabilities required ensuring security expectations are met.
Click below for more information:
