Fundtech, a market leader in global transaction banking solutions, and Zafin Labs, the leading provider of dynamic relationship banking platforms, jointly announced a strategic partnership to integrate their systems.
The alliance allows financial institutions to provide a differentiated pricing, billing, profitability simulation and payments experience to customers. The combined system will support integrated transaction processing and relationship banking, including real-time pricing across multiple currencies, based on associated standard or exception price for the customer hierarchy.
Fundtech's Global PAYplus-Services Platform is a payments services hub supporting management and execution of a wide range of payment types, including: High Value/ High Care Payments, Mass Payments, SEPA Payments, Immediate Payments and others, within a common rules-driven infrastructure. Zafin Labs' miRevenue Solution Suite offers financial institutions a multi-currency, multi-geography dynamic relationship pricing engine, profitability simulation, master product catalogue and product lifecycle management, configurable product bundling, revenue capture and management, and, enterprise loyalty capabilities.
By providing a single platform for processing high and low value payments integrated with a dynamic pricing and billing capability, banks and financial institutions are able to automate pricing decisions that reflect the total relationship value and contain revenue leakage. More information on how a seamless pricing proposition for payments competitively differentiates an organization can be found in a co-authored white paper. The integrated Fundtech/Zafin Labs solution has already been deployed in global and regional banks.
"At a time when banks are seeking new revenue opportunities in their Transaction Banking business, optimizing their pricing policies is especially welcomed. We see this partnership delivering significant end-to-end value to our clients," said Michael Sgroe, President and Chief Operating Officer of Fundtech.
"The offering of an end-to-end integrated payments, pricing and billing solution enables financial institutions to realize optimal revvenues and quick ROI for the payments transformation. We are excited about this partnership's truly unique value proposition," said Mr. Al Karim Somji, Chairman & CEO, Zafin Labs.