Temenos’ solution enables larger banks with complex, legacy systems to launch innovative and highly competitive multi-product pricing offerings – across Temenos’ and third-party core banking platforms – to gain earlier time to value as they start their modernization program
Temenos’ powerful, enterprise-wide product management and dynamic pricing helps larger banks innovate with personalized services and product bundles, including third-party products
Microservices-based, Temenos Enterprise Pricing helps banks create new revenue streams through consistent fee structures and transparent pricing
Temenos maximizes banks’ profitability with compelling offerings that increase client retention and boost wallet share
Temenos, the banking software company, announces its next-generation Temenos Enterprise Pricing solution, which enables banks to design, manage and price innovative products, services and product bundles using their own and third-party products. Temenos Enterprise Pricing can be deployed on Temenos Transact or on any third-party core, helping larger banks burdened with complex, siloed legacy systems gain faster time to value as they start their modernization program. The powerful, enterprise-wide pricing engine supports hyper-personalization of products and services, and accelerates time to market for all products, increasing the bank’s profitability.
Larger banks are typically operating on large legacy technology stacks often with multiple core capabilities and disparate systems or product silos. These banks are struggling to compete with fintechs and neobanks, whose agility allows them to rapidly launch differentiated products and attract new customers. Developing and taking-to-market new products and pricing bundles across geographies, business lines and multiple, core banking systems requires a transformation program that banks cannot solve in-house. With Temenos Enterprise Pricing banks can address their immediate operational efficiency needs and start an incremental modernization journey.
With Temenos Enterprise Pricing banks can deliver innovative products and pricing bundles with competitive pricing based on the customers’ or entire households’ relationships with the bank and their behaviors to provide tailored rewards and promotions. Temenos enables banks to create products and pricing structures both across digital channels and within the banking core, making it the only technology provider capable of helping banks implement this approach through the entire value chain.
Temenos Enterprise Pricing also gives banks greater control over the fees they apply, centralizing product data from multiple legacy systems and disconnected applications. Banks gain better visibility of the product and pricing portfolio across the enterprise, which in turn reduces revenue leakage and optimizes profitability. This transparent pricing across products and services benefits the customer and the bank.
Christine Barry, Research Director, Aite Group, said: “In the commoditized world of banking, loyalty to a brand will be harder to create without delivering genuine advantages to customers who display loyal behaviors. Temenos Enterprise Pricing enables banks to manage products and pricing effectively delivering to their customers transparent, relationship-based pricing, innovative services and rewards schemes to delight them and create deeper relationships.”
Max Chuard, Chief Executive Officer, Temenos: “Max Chuard, Chief Executive Officer, Temenos: “With Temenos Enterprise Pricing, we give larger banks with legacy IT landscapes, burdened by multiple cores and disparate, siloed systems, the opportunity to solve their operational efficiency needs and start their modernization program, gaining faster time to value. This solution enhances our ability to meet the needs of larger banks, which represent approximately 60% of the total third-party market spend. Our next-generation SaaS solution enables banks to create new revenue streams by launching new compelling offerings and to apply dynamic pricing strategies to maximize profitability, increasing customer retention and boosting wallet share.”