SunTec, a global provider of Relationship-based Pricing and Enterprise Billing solutions, today announced that it was contracted by Commerzbank, a leading bank for private and corporate customers in Germany, to deploy a Pricing and Billing technology solution.
Under the terms of the contract, SunTec's Relationship based Pricing & Billing Solution -- Transaction Business Management System - Finance (TBMS-F) will enable Commerzbank to offer integrated billing services to its customers. SunTec's solution will be deployed for invoicing customers in the 'Financial Institution' portfolio for 'payment products & services'.
"SunTec's solution will deliver a unified invoicing experience for Commerzbank's customers and enable the bank to launch innovative products in a compressed time frame. The solution will enhance operational efficiency and transparency of the bank's pricing processes in compliance with the regulatory requirements." Mr. Nanda Kumar, President and CEO of SunTec Business Solutions, said.
"SunTec's Relationship based Pricing & Billing solution, TBMS-F, is an excellent choice for Commerzbank. With TBMS-F, we will be able to provide highly-flexible pricing schemes for payment products while the all-new, integrated single invoicing will allow for clearly laid out invoices, which our clients will come to love. At the same time, this will ensure a very short time-to-market for any new or upgraded products," Mr. Reinhard Furthmayr, Head of Financial Institutions (Products & Marketing), Commerzbank said.