Zafin, the leader in Product and Pricing Lifecycle Management for the financial services industry, has officially launched miCatalog, an innovative product management tool and the central component of Zafin's miRevenue software suite, following a year in production.
As the first step and foundation of Product and Pricing Lifecycle Management, miCatalog represents a transformative, customer-centric paradigm shift away from traditional, siloed bank operations. As a central product repository - a single point of truth for policies, features, standard pricing and exception pricing - miCatalog supports a more holistic, needs-based sales paradigm.
miCatalog connects to all source platforms across the organization, allowing business users to manage products and pricing through a single application. Product Managers can create products, define suitability rules and eligibility criteria and assemble product bundles quickly and easily - all in a matter of days or weeks and with minimal IT interaction required. As a result, banks can create customized offerings, tailored to specific client requirements, for an improved customer experience.
"miCatalog is a game changer in financial services," said Al Karim Somji, CEO and Founder of Zafin. "By centralizing the management of products and pricing policies across lines of business, miCatalog empowers banks to deliver the right products to the right customer through the right channel at the right time and at the right price. This is an outcome that customers and regulators alike want to see."
"miCatalog provides robust capability that enables banks to innovate with quick time to market, while ensuring full compliance with regulatory requirements," said Dinesh Krishnan, Managing Director, Global Product Development, Zafin. "We believe the technical capability to represent bank product structures dynamically and integrate seamlessly with existing banking systems will enable Product Managers to provide a differentiated offering to their customers in an increasingly commoditized market."