SunTec launches billing software for banks
11 October 2006 | 2884 views | 0
Source: SunTec Business Solutions
SunTec Business Solutions today launched the TBMS-F V4 financial services billing software to address the demand from the banking sector for a unified approach across global markets and financial products.
The TBMS-F V4 can now be deployed globally across multiple countries, in addition to the multi-currencies and languages already being supported. The total market value of financial services institutions worldwide grew by 15% in 2005 to reach a new record high of $8.7 trillion. CEOs expect the financial services sector to outgrow the global economy for a third consecutive year in 2006. SunTec estimates that TBMS-FV4 will grow its revenues considerably. The company is currently registering more than 100% year on year growth on revenues.
According to the Mercer Oliver Wyman Annual Survey of the Financial Services Industry 2006, over 70% of the CEOs intend to review the management and cost of the Information Technology systems as a potential for unlocking hidden value. SunTec believes that the TBMS-F V4 will substantially address this requirement and add strongly to the company's revenue growth.
Currently, SunTec's TBMS-F is solution of choice for leading financial institutions that include ING bank, HSBC Group, Lloyds TSB and ICICI.
"We believe that we are addressing the need for real time unification of transactions across geographies for global financial institutions. The TBMS-F V4 will enable financial institutions to grow their revenues substantially," according to Nanda Kumar, President and CEO of SunTec.
He further added, "According to leading research analysts around 45 of the top 100 global banks will adopt Relationship-based Pricing solution by 2009. With TBMS-F V4 we plan to aggressively capture a major chunk of this emerging market."
The current version of TBMS-F enables banks to deploy centralized pricing and billing platform. With the current solution banks can either go for streamlining their pricing and billing functions for a line of business across geographies or, go for a turnkey rollout of Relationship-based pricing and billing for all lines of business and geographies.
As consolidation and globalization have emerged as key paradigms, large banks have become truly 'global' in terms of their presence and operations. They today, serve large corporate customers in multiple geographies and offer different products across lines of business. Hence, it becomes critical for banks to see the total value a customer brings to the table and provide benefits based on the same.