SunTec Business Solutions, the revenue management and business assurance solutions provider, said that the United Arab Emirates (UAE)-based National Bank of Abu Dhabi (NBAD), has implemented its innovative relationship-based pricing and enterprise billing solution for the business banking division.
It added that the partnership will reduce NBAD’s revenue leakage based on the product’s ability to do shadow pricing on negotiated preferential pricing. SunTec has rolled out this implementation as a pay-as you-go hosted services model – the first in this field – which offers major capital expense (capex) and operating expense (opex) benefits to NBAD, thus lowering the total cost of ownership (TCO).
It will also enable NBAD to provide a more focused service to its customers by optimising and rationalising the multiple prices lists across all product silos, increasing operational efficiency. In-depth customer analytics and a comprehensive product management toolkit will equip NBAD’s relationship managers and product managers with an integrated view of the relationship value and ability to track customer commitment.
NBAD has one of the largest networks in the UAE with more than 120 branches and cash offices and 490 automated teller machines (ATMs) across the country. Its international network consists of 50 branches and 60 ATMs in 12 countries stretching across four continents from the Far East to North America, giving it the largest global network among all UAE banks.
SunTec has also launched its new hosted services delivery model, specific to the Middle East only at this stage, and NBAD is the first customer. The banking industry in this region is governed by less regulation in comparison with North America or Europe and therefore the pay-as-you-go cloud based software-as-a-service (SaaS) model is viable and delivers increased TCO benefits. Hosted by SunTec India, high-level data masking ensures data security and that all Middle Eastern banks will remain compliant.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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