Pricing Engine
Pricing Engine: Manages the execution of pricing and bundling.
Pricing Engine provides a highly flexible and configurable centralized calculation platform to perform different types of calculations working within the existing system environment. It supports a dynamic calculation fabric, where the calculations are based on dynamic state of defined parameters. Multiple types of calculations are supported which include fees, interests, average balances, costs, benefits, leakages etc. Calculations can be done in a batch mode or an online mode or in an on-demand mode. Support is available for using referred data or derived data as parameters for processing.
The Pricing Engine provides the following key functionalities:
- Compute standard and non-standards pricing
- Compute pricing at multiple levels customer, group, package, transactional etc
- Ability to accommodate any static attribute such as geography, segment etc. and/or dynamic attributes such as asset/liability ratio, balance thresholds in a pricing rule
- Define STP validation rules for pricing for SWIFT messages (MT10X, 20X. etc)
- Apply any combination of any pricing calculation
- Fees, service charges, interest, benefits, average/aggregate balances, EMI, commissions...etc
- Flat, tiered, threshold, custom...etc
- Multi-currency, multi-charging, taxes, group apportionments...etc
Key Benefits
- Provides a platform that is purpose built to integrate with existing source and destinations systems, allowing enhanced pricing capabilities in a cost effective manner
- Increased innovation and flexibility does not come with increased costs. ROI is maximized as costs to implement innovation is significantly less than customization of existing systems
- Supports multiple deployment models to work with existing systems, and evolves from a non-intrusive price adjustment model to a fully centralized model when required
- One platform for all calculations: For Customers, Partners, Sales Agents, Internal (Line of Business Transfer Pricing) etc
- Low Cost of Change Management by insulating any changes to the core systems
