SunTec Business Solutions, the world's leading provider of revenue management and business assurance solutions, announced today that the National Bank of Abu Dhabi (NBAD), the number one bank in the UAE, has implemented its innovative relationship-based pricing and enterprise billing solution for the business banking division.
Critically,this will reduce revenue leakage based on the product's ability to do shadow pricing on negotiated preferential pricing. SunTec has rolled out this implementation as a pay-as you-go hosted services model - the first in this field - which offers major Capex and OpEx benefits to NBAD,thus lowering the total cost of ownership (TCO).
The strategic partnership with SunTec will enable NBAD to provide a more focused service to its customers by optimising and rationalising the multiple prices lists across all product silos, increasing operational efficiency. In-depth customer analytics and a comprehensive product management toolkit will equip NBAD's relationship managers and product managers with an integrated view of the relationship value and ability to track customer commitment.
SunTec's system will further enable NBAD to guarantee their valued customers a holistic and proactively managed experience, personalised to meet their specific business objectives. Customers and product managers will be able to view a snapshot statement or invoice encompassing all accounts held with NBAD to improve the immediate need of having a single view of entire portfolio and income.
"We are excited about the partnership with SunTec that has enabled us to define our customer relationship and revenue management strategies. The solution has helped us quantify and minimise revenue leakage and provide a unified customer view supported with precise analytics," explained Frank Hamer, global head of transaction banking, Wholesale Banking Group, NBAD.
SunTec has also launched its new hosted services delivery model, specific to the Middle East only at this stage, and NBAD is the first customer. The banking industry in this region is governed by less regulation in comparison with North America or Europe and therefore the pay-as-you-go cloud based SaaS model is viable and delivers increased TCO benefits. Hosted by SunTec India, high-level data masking ensures data security and that all Middle Eastern banks will remain compliant.
"SunTecis proud to be selected as a strategic partner for NBAD," said K. Nanda Kumar, President and CEO of SunTec Business Solutions. "SunTec's product will deliver a unified invoicing experience for customers of NBAD and enable the bank to launch innovative and highly competitive customer centric offerings in a compressed time frame."