Temenos (SIX: TEMN), a banking software company, announces its next-generation Temenos Enterprise Pricing solution, which enables banks to design, manage and price innovative products, services, and product bundles using their own and third-party products. Accordingto Temenos, Temenos Enterprise Pricing can be deployed on Temenos Transact or on any third-party core, helping larger banks burdened with complex, siloed legacy systems gain faster time to value as they start their modernization program.
“With Temenos Enterprise Pricing banks can deliver innovative products and pricing bundles with competitive pricing based on the customers’ or entire households’ relationships with the bank and their behaviors to provide tailored rewards and promotions. Temenos enables banks to create products and pricing structures both across digital channels and within the banking core, making it the only technology provider capable of helping banks implement this approach through the entire value chain.”
While sharing more details about the software, Max Chuard, CEO of Temenos, explained:
“With Temenos Enterprise Pricing, we give larger banks with legacy IT landscapes, burdened by multiple cores and disparate, siloed systems, the opportunity to solve their operational efficiency needs and start their modernization program, gaining faster time to value. This solution enhances our ability to meet the needs of larger banks, which represent approximately 60% of the total third-party market spend. Our next-generation SaaS solution enables banks to create new revenue streams by launching new compelling offerings and to apply dynamic pricing strategies to maximize profitability, increasing customer retention and boosting wallet share.”
Temenos also noted that Temenos Enterprise Pricing provides an enterprise-wide product repository, a ‘one-stop-shop’ of all products and services. Features include:
- value-based pricing determined by the overall customer relationship with the bank across business line silos
- aggregation of financial products on a single platform
- creation of new services that help people better manage their finances
- providing insight into spending and saving habits
- widening access to products and services