VakifBank selects SunTec dynamic pricing offering

Source: SunTec

VakifBank, one of the largest banks in Turkey, today announced that it has awarded Pricing and Billing technology solution deployment contract to SunTec, a global provider of Relationship-based Pricing and Enterprise Billing solutions.

Under the terms of the contract, SunTec's solution will enable VakifBank to implement 'a Dynamic Pricing System' to support the bank's Innovative Transformation Core Program. SunTec's solution will ensure the flexibility in pricing operations across multiple product lines viz., current & deposit accounts, loans and investments. The solution will be implemented by SunTec and its partner Segmentist and enable the bank to shrink the time-to-market for launching innovative products and services to its retail and Corporate Customers.

"SunTec's solution will deliver an innovative invoicing experience for VakifBank, as the bank would be able to offer flexible and usage based pricing schemes for its retail and corporate customers and enable the bank to launch innovativeproducts in a compressed time frame. The solution will enhancethe business agility for the bank in line with its recent core banking transition" Mr. Nanda Kumar, President and CEO of SunTec Business Solutions, said.

"SunTecis a strategic partner in Vakifbank's Innovation Transformation (VIT) program. One of the key objectives of the program is to offer dynamic pricing to all our loyal Customers. SunTec's business solution will be the core of our enterprise architecture to ensure all dynamic pricing and billing requirement of the bank" Ali-Engin Eroglu, CIO of VakifBank said. 

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